The ICAEW is looking Eastwards as it attempts to increase its size. It has announced a deal with the Chinese Institute of Certified Public Accountants (CICPA) to award credits to each other's examinations.
An agreement will mean that CICPA members, who have passed all five subjects of the CPA Uniform Exams, will be awarded credits in the professional stage of the ICAEW's ACA qualification.
Richard Dyson, ICAEW president, said the agreement between the two parties is "one more step forward in helping to create a global accountancy profession".
Size of course is not everything, quality is the key issue.
Dyson, as if anticipating the above comment, went on to say:
"By providing mutual credits for prior learning, we are making it simpler for members of both the ICAEW and CICPA to achieve qualifications which will enable them to work in each other’s territories."
So long as this does not dilute the ICAEW brand, or expose the ICAEW to ethical problems, then in theory this agreement should cause the ICAEW no problems.
The devil is in the detail.