LONDON--(BUSINESS WIRE)--The number of professional accountants is growing sharply as a result of increasingly global strategies from long established professional accounting bodies, particularly in emerging economies such as China and Brazil, according to The Accountant’s World Survey 2012: Going Global.
The global survey of 44 professional bodies across 27 countries finds that in most, the accounting profession is growing at a strong rate, but particularly in regions where the world’s emerging economies (China, India and Brazil) are situated. The number of professionals has risen by 34% to 543,064 in Asia-Pacific, 16% to 222,785 in South Asia and 7% to 312,460 in Latin America. This growth corresponds to the increased membership of many of the world’s largest accounting bodies, often as a result of global partnerships; The Institute of Chartered Accountants in England and Wales has increased membership by 31% in China during the past two years, as a result of its relationship with the Chinese Institute of Certified Public Accountants.
Nicola Maher, editor of The Accountant commented, “It’s encouraging to see industry growth despite a worldwide economic downturn. Globalisation of the accounting profession brings significant benefits, professional bodies that partner with local organisations support them in education and training programmes, and these partnerships improve the number and quality of professionals supporting global financial markets. Additionally, established bodies can provide a more comprehensive service to their members working abroad.”
Underlining this internationalisation, the survey also reveals an emerging trend in the consolidation of national professional bodies as another method of expanding their reach and encouraging consistency in qualifications. For example, by 2013 Spain’s three national accounting bodies will have merged into one single institution, and in 2011 The Netherlands merged its top two bodies into one national institution with a number of other countries expected to follow suit this year. While the US (414,279 qualified accountants) and UK (304,663) remain the top countries for providing the global economy with qualified accountants, emerging economies Brazil (292,201), China (228,023), and India (222,785) are catching up.
For more information or a copy of the report please contact Michelle Allison – michelle@c8consulting.co.uk / 01189 001132