Global accountancy qualification a step closer

Seven of Europe's leading accountancy Institutes have announced a joint project to explore how to bring their professional qualifications closer together within five years.

The Institutes hope that the project will result in the greater part of the content of the curricula for their qualifications being common to all the Institutes.

The Institutes will also explore the potential for common learning materials, education, examination and other forms of assessment for the proposed common content.

Commenting on the project, Henry Saville, President of Ireland's largest accountancy body, the Institute of Chartered Accountants in Ireland (ICAI), said: "Irish Chartered Accountants have always been very mobile and we currently have members working in 90 countries worldwide. This reflects the global business environment in which we operate and the common content project would further enhance the portability of their qualification.

"The Institutes involved in the project believe that there is a significant and growing demand for the highest quality global accountancy qualifications. We are working together because we can see real benefits from the project to the wider business community as well as for our members, their firms and their employers."

The Institutes envisage that a prospective member would be able to satisfy the assessment criteria for the common content in any of the participating countries. A prospective member would satisfy the national content in the country in which he or she wants Institute membership or the right to practise.

Each Institute will consult the appropriate supervisory, regulatory and examination bodies about this project as well as its members, their firms and other employers of members.

The participating Institutes also intend to advise other major Institutes, the International Federation of Accountants (IFAC) and the Federation of European Accountants (FEE) about the nature of the project and seek their involvement at the appropriate time.

(MB)