26 Sep 2013

Accountants fight merger proposal

1:11 pm on 26 September 2013

A group of accountants say a proposed merger of their association with its counterpart across the Tasman will mean small practitioners will lose their voice.

The New Zealand Institute of Chartered Accountants and the Institute of Chartered Accountants Australia are proposing to merge.

The two bodies say the proposal will give them the financial capacity and scale to deliver more relevant services for members and have this week put out a memorandum and independent report on the matter.

However, a group of about 150 out of the 33,000 members of the New Zealand body oppose it.

Group spokesperson Bruce Sparrow is complaining about a lack of information and says there has been no real opportunity to discuss the proposal and its huge ramifications.

He says the merger has been promoted for the multi-national companies but a good proportion of New Zealand accountants have little impact from globalisation on their daily lives.

Mr Sparrow says accountants working for multi-national companies already have connections and support and the merger would not add much for them, while taking a lot away from the majority of the membership.

Voting on the proposal starts next month.