Trans-Tasman accounting body merger closer

New Zealand and Australia's accounting industry bodies are a step away from merging, after reaching a collaboration agreement.

New Zealand Institute of Chartered Accountants chief executive Terry McLaughlin said the alliance recognised that New Zealand's economic development would be strengthened by working closely with Australia. The two boards had been working toward harmonising standards to create a more seamless trans-Tasman business environment for their members.

"Many of the larger accounting firms and corporates are also increasingly viewing the trans-Tasman environment as one market," Mr McLaughlin said.

The agreement would also position the organisations to help develop accounting standards in developing Asian countries.

"We want to get more of those countries to a state where they can join the Global Accounting Alliance," Mr McLaughlin said.

The agreement would initially focus on a common chartered accounting programme, developing member products and services, joint marketing and shared information technology systems.

- © Fairfax NZ News