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.
AUTHOR
Malavika Santhebennur
Recommended for you
A Victorian accounting firm – in which Count holds a 40 per cent equity stake – has announced the acquisition of an accounting client book through a $1.4 million transaction.
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined 7% compared with the year prior, to $10.3 million.
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22.
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.
