About the Global Accounting Alliance

Global Accounting Alliance

1.	What is GAA?

	Bringing together 700,000 of the world's leading professional accountants, it is a joint venture of nationally based Institutes responsible for professional accountants who provide the majority of services to the world's largest listed entities and which recognize that the major capital markets are now global and therefore a joint venture body will facilitate the transfer of best practice and data across the world.

2.	Objectives

	The overriding objectives of the Global Accounting Alliance are to operate in the interest of a quality accounting profession, and the public interest. Its seven additional key objectives are:

	(1)	Enhancing the accounting profession and business through global leadership in the areas of thought leadership, research and advocacy.

	(2)	Assessing opportunities to assist developing or maturing accounting institutes develop their national qualifications.

	(3)	Advocating as one on key issues and initiatives agreed to by the member bodies and to promote the brands represented by the member bodies.

	(4)	Increasing advocacy leverage with national regulators, governments and stakeholders, through member body collaboration, articulation of consensus views, and working in collaboration, were possible, with other international bodies. Supporting IFAC's role as the voice on international issues is the preferred outcome.

	(5)	Increasing member benefits through overseas member support either by the local GAA member body in the jurisdiction where overseas members are located, or by jointly providing a support mechanism in overseas locations where no member body is domiciled.

	(6)	Promoting the international portability and recognition of the respective national qualifications, including specializations, while ensuring that we always act in the public interest and do not set up any real or perceived barriers to other professional accounting bodies being able to conduct their business in any country.

	(7)	Supporting effective international business and accounting and auditing practices by promoting highly qualified professionals.

3.	Who are the members?

	The founding members of the GAA are:

		American Institute of Certified Public Accountants (AICPA)
		Canadian Institute of Chartered Accountants (CICA)
		Hong Kong Institute of Certified Public Accountants (HKICPA)
		Institute of Chartered Accountants in Australia (ICAA)
		Institute of Chartered Accountants in England and Wales (ICAEW)
		Institute of Chartered Accountants in Ireland (ICAI)
		Institute of Chartered Accountants of Scotland (ICAS)
		New Zealand Institute of Chartered Accountants (NZICA)
		South African Institute of Chartered Accountants (SAICA)

4.	Early milestones

		Increased advocacy in areas such as liability reform
		Improved collaboration in areas such as service offerings to SMEs and SMPs
		Increased quality by transferring best practices internationally
		Increased portability of the qualifications of member bodies
		Increased support for members with live and work internationally

5.	Founding members are leading accounting institutes

	Each of the institutes involved has a history of quality designations and service in the public interest with the major listed entities in each of the markets that they serve nationally. They have been at the forefront of developments internationally within the profession, taking major roles in IFAC and the IASC.

6.	Members of the GAA member bodies

	GAA is a joint venture built around national institutes whose members or member firms act for global companies and leading listed entities either preparing or auditing the accounts of those entities.

7.	Member benefits

	Firstly by international help and support available in major capital markets from each founding institute.

	Secondly by the participation of the GAA in major global developments on such issues as regulation and accounting standards.

	Finally by the cross border fertilization of quality initiatives between institutes.