ICAEW joins global alliance. By Dan Martin

The Institute of Chartered Accountants in England & Wales (ICAEW) has joined an international coalition of accounting organisations.

Including ICAEW, its Scottish and Irish counterparts as well as six other organisations from around the world, the Global Accounting Alliance (GAA) will seek to promote quality professional services, support global membership and collaborate on international issues.

Eric Anstee, ICAEW chief executive, said: "This is an important step in the development of a global approach for our profession and for our respective bodies.

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kenfrost's picture

GAA

kenfrost | | Permalink

Note

If you look up the registration of www.globalaccountingalliance.co.uk, you will see that it was registered on 15th September 2005 by the ICAEW.

This was before the merger motion was defeated in October 2005. This implies that the wheels were already in motion for the creation of the GAA.

Why then, if the ICAEW was working towards a global alliance at that stage, did they persist in telling the members that the most effective way of making our voice heard on the world/national stage was via merging with CIMA/CIPFA?

The site can also be accessed via http://www.icaew.info and http://www.globalaccountingalliance.org.uk

Internationalization

simon68 | | Permalink

Although CPA Australia does require potential CPA candidates to complete the mentor program in addition to CPA (exam) Program but it is quite flexible on who could acts as mentor:-

CPA equivalents as mentors
Under by-law 102.1(e)(i) full voting right members of the equivalent accounting bodies listed below are acceptable workplace supervisors of practical experience. These professionals may also act as mentors.

American Institute of Certified Public Accountants (GAA)
The Canadian Institute of Chartered Accountants (GAA)
The Association of Certified Chatered Accountants
The Chartered Institute of Management Accountants
The Chartered Institute of Public Finance and Accountancy
The Conseil Superiéur de l'Ordre des Experts Comptables
The Hong Kong Institute of Certified Public Accountants (GAA)
The Institute of Certified Public Accountants of Ireland
The Institute of Certified Public Accountants of Singapore
The Institute of Chartered Accountants in Australia (GAA)
The Institute of Chartered Accountants in England and Wales (GAA)
The Institute of Chartered Accountants of India
The Institute of Chartered Accountants in Ireland (GAA)
The Institute of Chartered Accountants of New Zealand (GAA)
The Institute of Chartered Accountants of Scotland (GAA)
The Institute of Chartered Accountants of Sri Lanka
The Malaysian Association of Certified Public Accountants
The Malaysian Institute of Accountants
The South African Institute of Chartered Accountants (GAA)

Members of professional associations not listed above, are not considered to be acceptable mentors.

In fact all GAA member bodies could act as mentor in Australia.

However out of the total nine GAA bodies only AICPA isn’t recognised by ACCA.

In the first round, ICAEW surpass ACCA by working with HKICPA to dominate the Hong Kong market. In the second round, ICAEW reached agreement with CICPA to surpass ACCA in China market. In the third round, what else could ACCA do to rebut such adverse scenario in US market?

Internationalization

simon68 | | Permalink

In view of the ICAEW ambition to become one of the world’s most influential accounting bodies and compete with ACCA on international arena I guess it will remove the training contract requirement and MRT (member of ICAEW) to provide mentor to CA students. By looking at the current press release to offer the CA training and examinations in China I am quite sure it did change its strategic focus out of England and Wales/UK.

It needs to rationalise its training requirement to be able to compete with ACCA on common ground. It could use a more flexible approach resemble those currently adopted by other international accounting bodies like AICPA and CPA Australia. Where you only need to pass all four parts of the uniform CPA examinations and have your work experience verified by one of the licensed US CPA (subsequent to passing the qualifying examinations) to be able to gain a licence from State Board of Accountancy and apply for AICPA membership. You don’t even need to work for this US CPA before and there isn’t requirement that he acts as mentor in order to do the verification work. You are even allowed to hire any one of the high street auditors to do the verification of your accounting experience.