The move follows a failed attempt by several of the world’s leading accountancy institutes to develop an internationally recognised qualification called Cognitor.
To achieve the goal of convergence in education the institutes have set themselves five years.
Andrew Christie, president of ICAS, said: ‘ICAS will continue to adapt to the needs of the market place and work with our European partners to build and enhance the reputation of the chartered accountant.’
Each institute will have to consult their national supervisory, regulatory and examination bodies, as well as its members before moving forward.
As well as ICAS, the participating institutes include ICAEW, ICAI and institutes from France, Germany, Italy and the Netherlands.
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