Accountancy industry 'nearing global standard'

News Article - 18 January 2008
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Accountancy industries around the world are becoming increasingly standardised and accepted, according to a new report.

The Institute of Chartered Accountants of Scotland (ICAS), claims that research has found that professional bodies, agencies and organisations in the industry are all experiencing a more cooperative relationship with their foreign counterparts.

Published by the Centre for Global Accounting Education, the Global Accounting Education report recognised one set of standards as the key factor behind the trend.

Gert Karreman, who was responsible for the report's research, explained: "The IES (International Education Standards) increasingly are the basis of international cooperation between countries and between professional bodies and universities."

"The combination of professional and academic expertise is one of the pillars of the accountancy profession," he added.

Executive director of education at ICAS Mark Allison commented that the trend would lead accountants to have wider access to markets in places like China and India.

PricewaterhouseCoopers, KPMG, Ernst & Young, Deloitte and BDO International - collectively known as the Big Six recently met to discuss how principle-based reporting standards can enhance transparency company accounts.

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