SIX CHARTERED accountancy bodies across the globe have grouped together to promote the role their members play in the global economy.
The institutes, which include the ICAEW and ICAS, have revealed a website and publication that sit under the newly-created Chartered Accountants Worldwide (CAW) brand.
An ICAEW spokesman said that the body differed from the Global Accounting Alliance (GAA) and the Consultative Committee of Accountancy Bodies (CCAB), of which both the ICAEW and ICAS are also members. Those bodies are focused on influencing policy-making at either national or global level, where the CAW is focused on promotion.
The CAW's remit is to promote the importance of chartered accountants in the global economy, and encourage their hiring - or encouraging chartered accountancy training.
Michael Izza, ICAEW chief executive, said: "In a world where there are many different types of accountants and qualifications, demonstrating the value that chartered accountants deliver and the highest ethical and quality standards to which they operate is becoming increasingly important.
"Chartered Accountants Worldwide will help promote the commitment of our global membership to these standards. By working together, we will also be able to create greater opportunity globally for those seeking to become or develop as chartered accountants."
The four other member institutes are from: Australia; Ireland; New Zealand and South Africa.
The "Chartered Accountants Worldwide” initiative won’t mean a lots for Qualified Accountants in Asia. The world’s largest economy, namely USA, China and Japan are all using CPA designation. Singapore, Malaysian, Philippines are also using CPA brand. Canadian CA institute is in transition stage towards CPA designation too.
I have been attending interviews for CFO position in Hong Kong listed companies. I have been asked if I possess Hong Kong CPA designation or Member of Chinese CPA despite I am an Australian CA.
Posted by: CK Tsui, 28 Feb 2013 | 03:21
Even CIMA is well acknowledged than Chartered Accountant brand in China. There are many manufacturing companies located in Shenzhen, Guangzhou or Delta China zone who need to hire Cost Accountant, and they consider CIMA as equivalent to local Chinese CPAs.
CA institutes better not to waste members money on initiative that does not benefit members at all.
Posted by: Patrick Liu, 03 Mar 2013 | 01:49
I am not CA but I have to say CA is still regarded as a premium qualification in the accounting profession. It still shines.....
Posted by: B Wong, 07 Mar 2013 | 22:59
Did Michael Izza really say: "In a world where there are many different types of accountants and qualifications, demonstrating the ... highest ethical and quality standards TO WHICH (chartered accountants) operate is becoming increasingly important"?
Maybe that's where he's going wrong. He would do better to demonstrate the high ethical and quality standards AT OR ABOVE WHICH chartered accountants operate.
Posted by: Roger, 29 Jun 2013 | 00:15
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