Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Trans-Tasman accounting body merger gets unanimous backing

Trans-Tasman accounting body merger gets unanimous board backing

Nov. 6 (BusinessDesk) - A potential tie-up between the New Zealand Institute of Chartered Accountants and the Institute of Chartered Accountants in Australia, its sister-body, will be put to members for consultation after winning unanimous support from both boards.

The boards of the two bodies yesterday announced they will put their work to the NZICA's and ICAA's elected leaders for feedback as they seek to win support for a merger of the entities. The trans-Tasman industry groups have been working more closely since September 2010 as regulators push for greater harmonisation between New Zealand and Australia.

The boards "believe there is a strong case for creating a new, single trans-Tasman institute and have unanimously agreed to move to the next stage of the process being full consultation with our elected members," they said in a statement on the NZICA website.

"The boards believe the institutes can best address the opportunities and challenges facing the profession together, by creating a new future-fit member-centric body ready to adapt, innovate and grow for the benefit of members and the community," they said.

New Zealand auditors have come under greater scrutiny in the past couple of years after legislator's decided to introduce a new layer of oversight, with the Financial Markets Authority acting as an independent watchdog of the NZICA's monitoring function.

The accounting bodies will set up a trans-Tasman joint working council to stress test and provide guidance on the work to date. That work will then inform wider consultation.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news