The Global Accounting Alliance (GAA) was formed in November 2005 and is an alliance of 11 leading professional accountancy bodies in significant capital markets. It was created to promote quality services, share information and collaborate on important international issues. The GAA works with national regulators, governments and stakeholders, through member-body collaboration, articulation of consensus views, and working in collaboration where possible with other international bodies, especially the International Federation of Accountants (IFAC).
The Alliance facilitates a co-operation between 11 of the world’s leading professional accounting organisations:
- The American Institute of Certified Public Accountants (AICPA)
- Chartered Accountants Ireland (ICAI)
- 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 of Scotland (ICAS)
- Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW)
- The Japanese Institute of Certified Public Accountants (JICPA)
- New Zealand Institute of Chartered Accountants (NZICA)
- South African Institute of Chartered Accountants (SAICA)
These organisations represent over 785,000 members in over 165 countries around the globe.
How is the GAA governed?
- The GAA is a company limited by guarantee registered in England and Wales. Its board consists of the CEOs of the member organisations. It elects one of its number as Chair.
- The GAA board currently meets in person four times per annum and via teleconference in the other months.
Areas of endeavour in 2012 for the GAA include the following:
- Maintain the timely exchange of experience and observations on matters of importance to the accounting profession
- Continue support for the GAA Passport Program, providing services to members working in GAA Member Body jurisdictions
- Support for sustainability initiatives and integrated reporting through membership of the Prince of Wales Accounting for Sustainability project (A4S) and representation on the International Integrated Reporting Council
- Continue support for the International Federation of Accountants (IFAC) and its many Boards, Committees and projects
- Continue support for XBRL, and XBRL International in particular
- Share views on documents released for public comment, and where appropriate providing a response from GAA
- Review and develop strategies to ensure the ongoing strength, positioning and leadership of the 11 Member Bodies
- Purse opportunities to assist other professional Institutes where appropriate
- Review ways to help improve access to the profession by qualified aspiring accountants
- Refine and enhance the GAA brand and its recognition
- Strengthen the network of Reciprocal Membership and Mutual recognition agreements
- Assist Member Bodies in remaining flexible so as to be able to adequately respond to change, and anticipate trends
- Provide thought leadership for the profession
- Continue publishing GAA Accounting and making it freely available online
- Pursue opportunities for collaboration in the delivery of services for the members of the GAA Member Bodies
- Continue links with the professional accounting firms and the GPPC
- Continue to promote the need for internationally accepted standards in accounting, auditing and ethics whilst all the same ensuring proper recognition of the need for differentiation related to such factors as public interest entities and size
- Support the removal of inappropriate barriers to global mobility within the accounting profession.