CAANZ will join forces with the Association of Chartered Certified Accountants (ACCA), which will involve the two bodies sharing resources, tools and education products.
The alliance also has an aim of strengthening the reach of the bodies, with a view to creating a "stronger voice" on behalf of members.
Further, the alliance intends to work on initiatives for the "overall development and benefit of the profession and business world", which will include joint research and events.
The alliance will also mean an opportunity for accountants to have dual membership of both bodies. ACCA members in Australia and New Zealand will be invited to apply for CA membership and CA ANZ members will be invited to apply for ACCA membership, subject to meeting the eligibility criteria of the other body.
"As the largest global professional accountancy body, we represent the interests of members from around the world, and how we can deliver value to and for them. A significant part of this is looking to the future – 2020 and beyond – and how the profession needs to adapt to not only keep pace and remain relevant, but highlight its pivotal role in business success and the fast-moving global economy," said Alexandra Chin, ACCA president.
Darren Scammell, CAANZ president, is confident the alliance will advance the cause of members.
"Members will benefit immediately from the Alliance, which marks the initial step in a valuable long-term relationship as well as providing opportunities to advance public value, drive efficiency and better promote and support members," he said.