|
|
28 Feb 2013
THE ICAEW AND ICAS have kindly helped to introduce another acronym to the world of accountancy: CAW.
Also known as Chartered Accountants Worldwide, the two institutes are joined by four other major national chartered accountancy bodies across the globe. Their aim is to promote the importance of chartered accountants' role in the global economy.
Further reading
It's nice in principle, but the ultimate question has to be whether members can bear their institute fees going towards setting up another institute get-together.
Don't forget, we have the CCAB to represent the institutes in policy-making and strategy for the UK, while both ICAS and the ICAEW are also members of the Global Accounting Alliance, which does the same as the CCAB just...globally. The argument is that the CAW is for promotional activities. But, still...
The ICAEW, in particular, has already made outreach efforts, no doubt at some cost, in areas such as China and Hong Kong, plus the Middle-East. Do we really need the CAW?
It smacks of a reaction to CIMA's push to co-brand with US business accountants with its CGMA designation - a point denied by the ICAEW. And both the CAW and CGMA efforts bear similarities. There appears no immediate impact upon members: for example, CIMA members had to do nothing to begin using the new designation.
While the ICAEW and ICAS might only be allocating a small proportion of funds to this venture, you have to wonder what the chartered accountant on the Clapham Omnibus thinks of all this.
Kevin Reed is editor of Accountancy Age and Financial Director
You may also like
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
A different perspective from across the Atlantic
As one of over 2,600 ICAEW members and approximately 5,500 members of the Chartered Accountants Worldwide Institutes who live and work in the United States, I and the other members of the ACAUS Board wholeheartedly welcome the establishment of Chartered Accountants Worldwide.
Unless you are one of the approximately 15% of ICAEW members who live and work outside the United Kingdom, I can see how it would be difficult for you to have an appreciation of how important this development is to us. The lack of awareness that the "Chartered Accountant" brand has in major world markets such as the United States is a major impediment for us non-UK based Chartered Accountants, both personally and professionally.
Remember that we non-UK based Chartered Accountants are entitled to a place on the Clapham Omnibus too!
Posted by: David Freeman, FCA (Board Member, The Association of Chartered Accountants in the United States), 01 Mar 2013 | 03:14
World Wide Alliance CWA
Your leader writer may indeed turn out to reflect the views of the man on the Clapham (or Corstorphine) omnibus, but to me he seems to be struggling to find an angle which doesn't exist.
If he looks at the work already being done through cooperation between the Institutes involved - on Simplification of Financial Reporting to quote a recent example - he should realise that this alliance is simply the formalisation of relationships already in place.
I for one welcome the opportunities to share ideas, and to work together in the ever more important global environment.
Sorry - I know you thrive on controversy, but this isn't one!
Posted by: Ian Robertson, 01 Mar 2013 | 10:29