Chartered Accountants welcome Accounting Infrastructure Bill

Chartered Accountants welcome introduction of Accounting Infrastructure Bill

The New Zealand Institute of Chartered Accountants (NZICA) welcome today’s announcement from Commerce Minster, Craig Foss, that the government will introduce into the House the necessary changes to allow them to join with the Institute of Chartered Accountants Australia (ICAA) to create a new trans-Tasman institute.

Earlier this month members of NZICA and ICAA overwhelmingly voted in favour of creating a new professional body. More than 54,000 members on both sides of the Tasman voted on the proposal during the October vote period.

Before transition to a new institute can be completed, the changes outlined in the Accounting Infrastructure Reform Bill are required.

NZICA Chief Executive, Craig Norgate FCA, says the Bill is recognition of the mandate for change NZICA members have given.

“We knew the government wanted to see a clear signal that members were positive about a New Institute before any change would be made to the legislation. The overwhelming response of our members during the vote delivered that signal.

“More than 16,500 of NZICA members voted and around 69% of them voted in favour of the proposal.

“The proposal for a new institute has been almost two years in the making and we’ve been discussing it with members for over a year. We’re pleased that members on both sides of the Tasman have seen the benefits that forming a New Institute together can produce.

“I look forward to the Government passing this legislation which will allow us to create a new institute that will better serve members and the public on both sides of the Tasman.”

ENDS

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