Global accountancy profession 'one step closer'

News Article - 11 January 2008
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The creation of a global accountancy profession is one step closer following the announcement that the Institute of Chartered Accountants (ICAEW) and the Chinese Institute of Certified Public Accountants (CICPA) are to award credits to each other's examinations.

Under the terms of the agreement, members of the CICPA who have passed a certain number of examinations will be awarded credits in the professional stage of the ICAEW's ACA qualification.

This is the first time that the CICPA has agreed to work so closely with a professional accountancy organisation outside of China.

Richard Dyson, ICAEW president, said the agreement is "one more step forward in helping to create a global accountancy profession".

He added: "By providing mutual credits for prior learning, we are making it simpler for members of both the ICAEW and CICPA to achieve qualifications which will enable them to work in each other’s territories."

The CICPA was established in 1988 and later merged with China Association of Certified Public Auditors.

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