Atlantic split opens over Cognitor plan.
Transatlantic divisions emerged over the future of accountants this week in the wake of the UK's withdrawal from international talks on developing an accountant-driven worldwide business qualification.
As the English ICA last week followed the Scots ICA by dropping the plans to develop a rival to the MBA – the ‘Cognitor’ – the main US accountancy body pledged to plough on with the ‘viable and rational process’.
The Scots and the English institutes instead pledged this week to put their efforts behind promoting the chartered accountant as a global brand.
Scots institute president Grenville Johnston said: ‘The North Americans feel they have a problem with their CA qualification. They’d be better investing their time and money in developing a global CA qualification.
Our qualification is already internationally recognised.’ His counterpart at the English institute, Graham Ward, said: ‘We do not believe that the current Cognitor proposals represent the best way forward to continue to develop the international reputation and profile of our members.
‘We will continue to develop our own plans for a global qualification for chartered accountants.’ Robin Harding, chief operating officer of the global task force at the American Institute of Certified Public Accountants, told Accountancy Age he was disappointed about the withdrawal of the UK but the Cognitor plan would go on.
According to a business plan seen by Accountancy Age the task force hopes to earn revenues of $438.3m (#292.2m) and attract more than 660,000 people by the end of 2005.
More on this story www.accountancyage.com/Practice/1112075.