Trans-Tasman merger: a sign of the times

The merger between Australia and New Zealand’s accountancy bodies will raise both nations’ profiles on the world stage. So hopes Lee White, chief executive of the Institute of Chartered Accountants Australia (ICAA), who is confident that there is a bright future for merged bodies.

Speaking to The Accountant, he explained how the impact will be felt far more widely than just Australia and New Zealand. Indeed the amalgamation of the two organisations will drive innovation across the whole accountancy sector, he told the publication.

For White, mergers such as this one, which comes as Canada’s various bodies combine, benefit the profession as a whole. “Through our new Trans-Tasman organisation, we fully intend to drive innovation in the accounting profession and make the Chartered Accounting profession more relevant and influential on the global stage,” he added.

NZICA Board chairman Graham Crombie FCA explained how the merger is about “strengthening the ongoing pre-eminence of the Chartered Accountant brand”, as well as giving members “a greater voice on the global stage”.

Indeed for White and the two merged accountancy bodies from New Zealand and Australia, the real focus is on building an international footprint for the profession in the key Asian market.

“The growth centre of the global economy lies in Asia which is why we will continue to focus on establishing meaningful partnerships in the region, particularly in the education sector,” he explained to The Accountant.

There is definitely demand for combining bodies to create a stronger presence for accountants. While the cross-border Trans-Tasman merger has a uniquely international flavour, professional bodies within single countries are also looking to join forces.

In June Canada’s various accounting bodies completed their final merger approvals to combine under the Chartered Professional Accountants (CPA) body in each territory and province. Some 40 professional bodies were merged, meaning all 185,000 of Canada’s Chartered Accountants (CAs), Certified Management Accountants (CMAs) and Certified General Accountants (CGAs) are united under the CPA banner.