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Institute of Chartered Accountants and Taxation Institute of Australia sign mutual recognition agreement

Publication date: 29 Jan 07 | Source: THE TAX INSTITUTE

The Institute of Chartered Accountants in Australia and the Taxation Institute of Australia have entered into a formal agreement that provides recognition for the specific tax modules of both parties’ education programs.

The agreement, effective from 1 January 2007, sees Chartered Accountants as having satisfied the educational and professional experience requirements for entry as an Associate member of the Taxation Institute and for entry to the Advanced Tax course.

In addition, successful completion of the Advanced Tax Course will satisfy the educational requirements to become a Fellow of the Taxation Institute.

The Institute of Chartered Accountants will recognise graduates of the Taxation Institute’s Applied Tax course as exempt from undertaking the Taxation Module of the Chartered Accountants Program.

‘The Institute has always had a long-standing relationship with the Taxation Institute and it’s great to be able to strengthen our ties with a tangible offering to members. The agreement both streamlines the education process for Chartered Accountants who want to specialise in tax, and the education for Members of the Taxation Institute who want to gain the breadth of expertise the Chartered Accountants Program provides,’ said Graham Meyer, Chief Executive Officer of the Institute of Chartered Accountants in Australia.

‘Through this agreement two strong member focused organisations can proudly claim collaboration in putting a best practice education pathway in place whilst at the same time focusing on building the skills of the tax profession,’ said Noel Rowland, Chief Executive Officer of the Taxation Institute of Australia.

‘We all know continued professional development and ongoing training are compulsory and the Taxation Institute and Institute of Chartered Accountants are very keen to ensure that all tax professionals have the ability to access the best tax education available and maintain choice and flexibility when it comes to choosing their tax education,’ Noel Rowland continued.

The agreement reinforces both organisations’ commitment to improving the capacity and skills of tax specialists and will help maintain high ethical and professional standards.