New Zealand Institute of Chartered Accountants: Difference between revisions
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=New Zealand Institute of Chartered Accountants= |
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==About the institute== |
==About the institute== |
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The New Zealand Institute of Chartered Accountants is the operating name for the Institute of Chartered Accountants of New Zealand. The Institute represents nearly 28,000 members in New Zealand and overseas. |
The '''New Zealand Institute of Chartered Accountants''' is the operating name for the Institute of Chartered Accountants of New Zealand. The Institute represents nearly 28,000 members in New Zealand and overseas. |
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Vision: First Choice for Business |
Vision: First Choice for Business |
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==Strengths== |
==Strengths== |
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Internationally, members of the New Zealand Institute of Chartered Accountants are well respected. The Institute's Admissions Policy is regarded as a world leader. Professional competency as well as academic ability is assessed before members can offer their services to the public. |
Internationally, members of the New Zealand Institute of Chartered Accountants are well respected. The Institute's Admissions Policy is regarded as a world leader. Professional competency as well as academic ability is assessed before members can offer their services to the public. |
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==Code of ethics== |
==Code of ethics== |
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Members of the Institute are bound by a Code of Ethics. This requirement sets members apart from others offering accounting services to the public. |
Members of the Institute are bound by a Code of Ethics. This requirement sets members apart from others offering accounting services to the public. |
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* Is rigorously enforced and provides the public with assurance of professional integrity |
* Is rigorously enforced and provides the public with assurance of professional integrity |
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* Helps members understand their obligations, both to the Institute and to society. |
* Helps members understand their obligations, both to the Institute and to society. |
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The Code requires that members must: |
The Code requires that members must: |
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* Respect their clients' confidentiality |
* Respect their clients' confidentiality |
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Breaches of the Code of Ethics are viewed very seriously by the Institute. The Institute maintains a formal Professional Conduct Committee. The Committee can reprimand a member, impose penalties, or refer serious matters to the Disciplinary Tribunal. Professional conduct is enhanced by a Practice Review process, which regularly assesses the work of Chartered Accountants in public practice to ensure that the Institute's standards are being maintained. |
Breaches of the Code of Ethics are viewed very seriously by the Institute. The Institute maintains a formal Professional Conduct Committee. The Committee can reprimand a member, impose penalties, or refer serious matters to the Disciplinary Tribunal. Professional conduct is enhanced by a Practice Review process, which regularly assesses the work of Chartered Accountants in public practice to ensure that the Institute's standards are being maintained. |
Revision as of 15:48, 20 July 2006
About the institute
The New Zealand Institute of Chartered Accountants is the operating name for the Institute of Chartered Accountants of New Zealand. The Institute represents nearly 28,000 members in New Zealand and overseas.
Vision: First Choice for Business
Mission Statement: Business Leadership Through Service
Structure
There are three "Colleges" or membership groupings within the Institute:
- Chartered Accountants
- Associate Chartered Accountants
- Accounting Technicians.
Strengths
Internationally, members of the New Zealand Institute of Chartered Accountants are well respected. The Institute's Admissions Policy is regarded as a world leader. Professional competency as well as academic ability is assessed before members can offer their services to the public.
Code of ethics
Members of the Institute are bound by a Code of Ethics. This requirement sets members apart from others offering accounting services to the public.
The Institute's Code of Ethics:
- Is rigorously enforced and provides the public with assurance of professional integrity
- Is relevant and appropriate to the commercial environment in which members work
- Conforms with international guidelines
- Provides the basis for disciplinary action when necessary
- Helps members understand their obligations, both to the Institute and to society.
The Code requires that members must:
- Be straightforward, honest and sincere in their approach to professional work
- Be impartial and free of any conflict of interest
- Have a high standard of competence
- Work according to certain technical and professional standards
- Refrain from conduct that might bring discredit to the profession
- Respect their clients' confidentiality
Breaches of the Code of Ethics are viewed very seriously by the Institute. The Institute maintains a formal Professional Conduct Committee. The Committee can reprimand a member, impose penalties, or refer serious matters to the Disciplinary Tribunal. Professional conduct is enhanced by a Practice Review process, which regularly assesses the work of Chartered Accountants in public practice to ensure that the Institute's standards are being maintained.
Professional development
Members of the Institute are required to keep themselves up-to-date with best business practice. Professional development (supplied either by the Institute or by other providers) is compulsory for members offering their services to the public.
Financial reporting standards
The Institute plays a unique role in developing financial reporting standards. These standards are given the force of law by a statutory body outside the Institute — the Accounting Standards Review Board. Professional and auditing standards prepared by the Institute and used by Chartered Accountants contribute to the credibility of the information used by capital markets. The objective is to harmonise New Zealand's reporting standards with international practice. The Institute's expertise in this area is recognised internationally.
Advocacy
The Institute is a respected advocate for better and fairer tax and commercial laws. In this role, the Institute helps to ensure that legislative priorities are continually assessed to benefit the economy as a whole. The Institute has a strong public relations role that ensures the community is informed about its views on many important issues.