Chartered Accountants Australia and New Zealand

Chartered Accountants Australia and New Zealand
CAANZ logo.jpg
Abbreviation CA ANZ
Predecessor Institute of Chartered Accountants Australia and New Zealand Institute of Chartered Accountants
Formation 31 December 2014; 2 years ago (2014-12-31)
Legal status Registered Body (in Australia)
Headquarters Sydney,  Australia
Region served Australia and New Zealand
Membership 100,000
Member's designations CA, ACA, FCA and AT
President Fred Hutchings FCA
Board Chair Murray Jack FCA
Chief Executive Officer Lee White FCA
Governing body Council
Staff 400
Website www.charteredaccountantsanz.com

The Chartered Accountants Australia and New Zealand (CA ANZ) is the operating name for the Institutes of Chartered Accountants in Australia and New Zealand. Chartered Accountants ANZ represents over 100,000 members in Australia, New Zealand and overseas.

In November 2013 the majority of members from the Institute of Chartered Accountants Australia and the New Zealand Institute of Chartered Accountants voted yes on a proposal to create Chartered Accountants Australia and New Zealand.[1]

The New Zealand Parliament passed the third and final reading of the Accounting Infrastructure Reform Bill (AIRB) on 30 October 2014.[2] The Royal Charter and By-laws for Chartered Accountants Australia and New Zealand were approved and signed by Peter Cosgrove, Governor-General of Australia on 26 November 2014.[3] The legal structure of Chartered Accountants Australia and New Zealand, was formally implemented on 31 December 2014

Contents

GovernanceEdit

A Council is elected and appointed by members regionally. The Council is responsible for appointing the Board and assisting management in ensuring decisions are made in the best interest of Members. The Council also advises the Board and management on Member and strategic issues.

The Board is the delegated decision-making body. It operates on a corporate model and has oversight responsibility for the development and approval of long term strategy and performance including key policy issues and oversight of risk.

The Strategic Leadership Team supports the CEO and is responsible for the day-to-day operation.

Regional Councils represent Members in Australia and New Zealand by providing a voice for the Members in their region and advising the Council on member issues.

Every Chartered Accountants Australia and New Zealand Member living in New Zealand is represented by a Local Leadership Team (LLT) in their area.[4]

MembershipEdit

Chartered AccountantsEdit

The Chartered Accountant (CA) designation denotes an accountant qualified to offer the full range of accountancy services privately and to the public.

Associate Chartered AccountantsEdit

The Associate Chartered Accountant (ACA) designation is a mid-level qualification. The designation recognises individuals who may not wish to train to be Chartered Accountants but who want to be recognised for their skills in business and finance. The ACA designation is currently available in New Zealand only.

The designation Associate Chartered Accountant is not directly comparable to the Associate Chartered Accountant (ACA) designation offered by the Institute of Chartered Accountants in England and Wales , the Institute of Chartered Accountants of India and the Institute of Chartered Accountants in Ireland.

Accounting TechniciansEdit

The Accounting Technician (AT) designation is for individuals employed to oversee and manage financial accounts in roles such as Accounts Manager or Assistant Finance Manager. The AT designation is currently available in New Zealand only.

New Zealand's practice in this respect is not followed in other countries. For example, in the United Kingdom, accounting technicians generally belong to the Association of Accounting Technicians.

FellowshipEdit

Fellowships (FCA) are awards granted to Chartered Accountants ANZ members to recognise outstanding achievement in and/or contribution to the profession of accountancy at either a local, national or international level.

Public practiceEdit

Chartered Accountants may apply for a Certificate of Public Practice. Every member who offers accounting services to the public must be a Chartered Accountant and hold a Certificate of Public Practice (CPP). The requirements for the issuing of this certificate are that (amongst others) a member must have had two years of acceptable practical experience while a member of the College of Chartered Accountants and have attended a course for new practitioners.

ReferencesEdit

  1. ^ Khadem, Nassim (1 November 2013). "Accountants vote yes to trans-Tasman Institute. Next stop: Asia". BRW. Retrieved 25 April 2015. 
  2. ^ Goldsmith, Paul (30 October 2014). "Bill to improve accounting and audit industries passes third reading". New Zealand National Party. Retrieved 25 April 2015. 
  3. ^ "Approval of Supplemental Royal Charter and By Laws of Chartered Accountants Australia and New Zealand". Commonwealth of Australia. 17 Dec 2014. Retrieved 25 April 2015. 
  4. ^ "Governance". Chartered Accountants Australia and New Zealand. Retrieved 25 April 2015.