The Institute of Chartered Accountants Australia (ICAA) and the New Zealand Institute of Chartered Accountants (NZICA) have announced plans to merge to create a single body.

A total of 54,000 members of both institutes voted, with 78% of those in ICAA in favour of the proposal and 69% of their New Zealand counterparts. Turnout was described as far greater than expected, with proponents of the planned 'one new institute' arguing this showed a 'clear mandate for change'.

The new institute is scheduled to come into being by April next year, subject to securing the necessary changes to the NZICA Act and Royal Charter in Australia. Its advantages include a larger membership base, greater financial efficiency, and the opportunity to create a single, cohesive vision and strategy.

From 1 December the merged organisation will be led by Lee White, current head of ICAA, as chief executive officer designate, with NZICA CEO Craig Norgate as transformation director.