Closer working relations the aim of new Co-operative Agreements

The ICAEW has today signed new reciprocal membership agreements with the New Zealand and Australian Institutes of chartered accountants reflecting closer working relations between the three bodies as well as improving access to membership.

Under the agreements signed at the Global Accounting Alliance meeting (GAA) in Rome, Italy by ICAEW President David Furst FCA, with Presidents of the NZICA Graham Crombie, and of the ICAA Andrew Arkell (FCA) members of either institute will now be able to join directly upon application, (subject to being in good standing with their home body, paying the subscription and retaining their home body membership).

Commenting on the signing of the MoU, Michael Izza, ICAEW chief executive said:

“As a result of this agreement, members of the ICAEW will enjoy a streamlined route to join NZICA and the ICAA, which will be especially valuable to our members working in New Zealand and Australia. We also look forward to welcoming NZICA and ICAA members to the ICAEW. Removing barriers for our members across markets through agreements such as this is an important part of our international strategy.”

The new agreements deepen long-standing partnerships with both Institutes. In the past, access to reciprocal membership was dependent upon applicants passing a qualifying aptitude test in local tax and law. The new agreements waive this membership test on both sides, although it does remain for certain practice situations.

The new agreements recognise each other’s Continuing Professional Development (CPD) systems, so a reciprocal member’s compliance with either body is accepted by the other bodies thus avoiding a doubling-up of requirements.

Following this agreement with the New Zealand and Australian Institutes, the ICAEW will update its agreements with other Global Accounting Alliance bodies in due course.

Terry McLaughlin Chief Executive Officer, with the New Zealand Institute of Chartered Accountants said: 

“New Zealand has always had close working relationships with the United kingdom. The New Zealand Institute has 2,500 members living and working in the UK. We are delighted to have signed this agreement with the ICAEW, which further cements our strong bonds.”

Graham Meyer, Chief Exec ICAA, added:

“With over 2,000 ICAA members resident in the UK, this new, strengthened, agreement provides our members with greater global mobility and support. Through our membership of the Global Accounting Alliance, we continue to strengthen our relationships with like minded bodies such as the ICAEW.”

Media enquiries

Contact Howard Rhoades, ICAEW press office, on 020 7920 8616 or email howard.rhoades@icaew.com