Big Five back global qualification

Big Five back global qualification

A global chartered accountancy qualification with a strong focus on audit would be more beneficial to Big Five firms, despite their support for developing a global business qualification.

An international task force has been set up to research the interest in and need for an internationally-recognised business qualification, following talks between the English, Scots and Irish ICAs and institutes from the US, Australia, Canada, New Zealand and South Africa.

Established last month, the task force has still not clarified what the qualification will encompass, although it has stated it will be broad-based and available to professionals of varying disciplines.

But accountancy profession experts say any international qualification should now centre on specialist skills.

‘If it is easier to start with a global business qualification, then fine,’ said Rodger Hughes, head of PricewaterhouseCoopers’ assurance and business advisory services. ‘But, in a world that is increasingly specialist, how would this business qualification fit in?’

Hughes’ concerns were echoed by KPMG partner Tom Brown.

‘A global business qualification is an exciting prospect. But, we must keep looking beyond,’ he said.

Individually Big Five firms have discussed developing a global qualification, but nothing has been set in stone. With the Big Five’s support, the institutes’ initiative could ease the passage of professionals in their career paths and ensure the task force follows up with a global CA qualification.

The task force aims to have a concrete plan on the table by the summer. The possibility of the eight professional bodies agreeing on the finer details of the qualification in the three-year time scale has nevertheless been met with weary optimism.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource