The National Institute of Accountants (NIA) will become the Institute of Public Accountants, with appropriately qualified members entitled to use the designation ‘Public Accountant’.
The name change and designation follows a vote by the organisation’s membership that will see the changes implemented from May.
Commenting on the change, NIA chief executive Andrew Conway (pictured) said the designation ‘Public Accountant’ was one of the two globally accepted terms that denoted a qualified professional in the accounting field.
“It is time our members received the recognition they deserve for their masters-degree equivalent qualification,” he said.
Conway said more than 94 per cent of members had voted in favour of the change.
The vote to become the Institute of Public Accountants follows on from the organisation’s earlier release of its so-called Financial Services Platform aimed at providing members with a range of solutions addressing the Future of Financial Advice reforms.
The group said the FSP was designed to enable members to network with a range of trusted financial advisers and provide a potential revenue stream.