Accountants to develop transtasman qualification

Photo / Hawkes Bay Today

Professional bodies representing accountants in New Zealand and Australia are set to strengthen ties.

The New Zealand Institute of Chartered Accountants and its Australian equivalent are working to create a common professional qualification and ongoing post-qualification training.

New Zealand Institute of Chartered Accountants chief executive Terry McLaughlin said collaboration between the two organisations reflects the trend to harmonisation of the transtasman economic market, including business law and accounting standards.

"What the two professional bodies are doing is really aligning and supporting that and taking some leadership in that space," said McLaughlin.

Currently New Zealand qualified chartered accountants can automatically become members in Australia but McLaughlin said the aim was to harmonise as much as possible the qualifications of both countries.

"We're consulting with the tertiary sector now and then we'll consult with employers and students and then we'll look to pull that piece together over the next few months to say is it a starter that we move to a common programme and work through from there," he said.

The alliance will see the establishment of a new governance board with representatives from both countries that in the long term could see the blending of the two organisations.

McLaughlin said the aim was "to deliver more for the same" and accountants would not expect to see any increases in membership fees.