Australia-New Zealand accounting bodies merge

The Australian and New Zealand chartered accountant professional bodies have merged to become one after the trans-Tasman proposal was put forward last year.

The Institute of Chartered Accountants Australia (ICAA) and the New Zealand Institute of Chartered Accounts (NZICA) brings together more than 100,000 members to form the Chartered Accountants Australia and New Zealand (CAANZ).

"Drawing on our new collective knowledge, we will be focused on greater influence of national economic policy and regulatory agendas and on international professional and technical standards," CEO of CAANZ Lee White said.

"Our aim is to stimulate debate in New Zealand and Australia and put forward ideas that will help ensure that businesses and the economy are well-positioned for future success."

ICAA and NZICA unanimously agreed to vote on the merging of the two bodies last year after three months of consultation with members.

The ICAA had said the merging of the two bodies would deliver $15.8 million in annual net cost savings that could be used for education, services, policy, advocacy and fee reductions for members of both bodies.

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