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The profession’s three peak bodies have championed the deal which, if passed by Parliament, will offer accountants from both countries mutual qualification recognition and offer one-year extensions to working holiday visas.
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Peak bodies welcome Australia-UK trade deal
24 June 2021
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Chartered Accountants Australia and New Zealand (CA ANZ), CPA Australia, and the Institute of Public Accountants (IPA) on Wednesday issued a joint statement welcoming a new Australia-UK trade deal agreed to by Prime Ministers Scott Morrison and Boris Johnson last week.
A core tenet of the deal hinges on greater business mobility between both nations. The commitments agreed to will allow companies to sponsor visas committed in the free trade agreement without having to prove that a local could do the job instead.
It also includes the establishment of an innovation and early careers skills exchange program, which would encourage — in line with the respective systems of each country — international workplace exchanges to facilitate early career mobility for those involved in innovation across industry, culture and the arts.
Residents of both nations will also have their professional qualifications mutually recognised, and see working holiday visas, currently capped at two years, extended to three. For British workers landing in Australia, farm work will no longer be required to unlock second-year visas.
The peak bodies said the shared approach, style and skills seen across the profession in both Australia and the UK are vital to growing exports and investments in “both directions”. They said the deal takes a vital step in realising the benefits of the approach already in place.
Chartered Accountants ANZ chief executive Ainslie van Onselen said the deal will provide the profession in both markets an opportunity to get global experience, and face more diversity, which is likely to help them better serve their clients.
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“Given the profession is bound by international accounting, auditing, education, ethical and potential sustainability standards,” Ms van Onselen said, “this announcement will spark the ambition for accountants to use their mutually recognised qualification to widen their global perspective which will enhance the societies and the economies of both countries.”
CPA Australia CEO Andrew Hunter said the deal will make it easier for its members to work in the global economy.
“Accounting is a global profession and we are a global organisation. This agreement has the potential to make it easier and simpler for our members to work in the global economy,” he said. “We’re pleased to have had the opportunity to advocate for this outcome for our members.”
IPA CEO Andrew Conway said the new trade agreement will offer accountants from each country an “enhanced framework” to support what is already a global profession.
“We have an opportunity to build the very strong relationship that exists between our countries and enable a strong focus on a sustainable profession supporting businesses through the global pandemic and beyond,” Mr Conway said.
The joint support of the peak bodies follows an earlier joint submission to the Department of Foreign Affairs in 2020, made in support of a comprehensive free trade agreement — like the one agreed to by both leaders last week — between Australia and the UK.
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