AUSTRALIA MORE THAN 300 MEMBERS MOVING TO CHARTERED ACCOUNTANTS ANZ IN ONE WEEK AS FEARING THAT WOULD LOSE THEIR LEGAL SHIELD FROM MULTI MILLION LAW SUITS FROM OCTOBER 2017
More than 300 CPA members have inquired about moving to Chartered Accountants ANZ in the week since the rival accounting body highlighted a little known but existing way for CPA veterans to defect.
The public enticement by CA ANZ, the second biggest accounting body in Australia, was prompted by revelations in The Australia Financial Review that public practice CPAs would lose their legal shield from multimillion-dollar lawsuits from October.
That news also prompted the Institute of Public Accountants, the nation's third and smallest accounting body, to issue a statement offering to "work collaboratively to provide a solution to CPA Australia members to be able to continue to practice".
CA ANZ acting CEO Simon Grant said the hundreds of inquiries in one week compared to a typical year where about 30 to 50 CPA members move across.
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