Chartered Accountants Worldwide - Money Well Spent?

I am not alone in thinking that the newly created Chartered Accountants Worldwide overlaps with other associations, such as the Global Accounting Alliance.

Kevin Reed (editor of Accountancy Age) also thinks the same, as per his Leader on the subject:

"It’s nice in principle, but the ultimate question has to be whether members can bear their institute fees going towards setting up another ‘association’.

Don’t forget, we have the CCAB to represent the institutes in policy-making and strategy for the UK, while both ICAS and the ICAEW are also members of the Global Accounting Alliance, which does the same as the CCAB just…globally. The argument is that the CAW is for promotional activities. But, still…

The ICAEW, in particular, has already made outreach efforts, no doubt at some cost, in areas such as China and Hong Kong, plus the Middle-East. Do we really need the CAW?"