Head to head for global domination

Head to head for global domination

The gun has finally gone on the race for global accountancy domination.

This week the ICAEW announced its participation in the newly-formed Global
Accountancy Alliance, a group of nine institutes from around the world that have
clubbed together to mutually promote their qualifications and pool their
lobbying powers.

The ICAEW will look to improve the acceptability of its qualification abroad,
to make its members more mobile in the modern global economy. Meanwhile, arch
competitor ACCA appears to be pinning its hope on close relations with the
auditor general of China to provide it with access for its qualification to the
world’s fastest growing economy.

That the ICAEW has a competition issue to deal with is beyond doubt. Figures
from the Financial Reporting Council’s report are quite revealing. The ACCA has
grown by 50% over the past five years to around 104,000 members worldwide.
Meanwhile, the world wide growth of the ICAEW appears to have stalled at 8% over
the same period. At current growth rates the ACCA could become the larger
organisation by 2008.

The global alliance looks like an intelligent move. Involving the huge AICPA
of the US, and bringing in the very ambitious bodies of Australia and Canada,
the alliance is notable for not including the ACCA and should provide the
institute with a fair amount of lobbying punch.

It will have to work because ICAEW chief executive Eric Anstee is staking his
reputation on the fact that thought leadership, and influence with government
and regulators, creates a profile which attracts the brightest students.

He’ll be hoping he’s right, because ICAEW members have shown little patience
with the leadership of late.

Related Articles

Lease accounting standards: are multinationals sitting on a ‘leaseberg’ of huge proportions?

Accounting Standards Lease accounting standards: are multinationals sitting on a ‘leaseberg’ of huge proportions?

2m Ross Chapman, Aptitude Software
Demystifying GDPR for accountants

Accounting Standards Demystifying GDPR for accountants

7m Ellen Temperton, Lewis Silkin
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

9m Emma Smith, Managing Editor
The great professional services shake-up

Accounting Standards The great professional services shake-up

10m Fergus Payne, Lewis Silkin
What do clients actually want from an accountant?

Accounting Standards What do clients actually want from an accountant?

11m Emma Smith, Managing Editor
Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

Accounting Standards Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

12m Alison Conley
Membership of the accountancy profession on the rise

Accounting Standards Membership of the accountancy profession on the rise

1y Alia Shoaib, Reporter
The real price of mates' rates in the provision of professional services

Accounting Standards The real price of mates' rates in the provision of professional services

1y DAC Beachcroft