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Two major accountancy bodies are to sign a joint memorandum of understanding that aims to 'drive the professional development agenda'.
The Association of Accounting Technicians (AAT) and the Association of Chartered Certified Accountants (ACCA) hope the move will benefit both their members and employers who offer the organisations' qualifications.
Through the new agreement, businesses recognised by the ACCA Approved Employer programme will have the opportunity to become accredited by AAT under its equivalent scheme, without having to go through AAT's full assessment process.
Likewise, businesses accredited by AAT will be able to obtain ACCA Approved Employer status through an expedited process.
The accord also will mean that AAT members working for an ACCA-approved employer will find it easier to meet their mandatory Continuing Professional Development (CPD) requirements.
ACCA UK director Wyn Mears said: 'Making meaningful and relevant synergies with like-minded organisations is important to ACCA. [The new memorandum of understanding] is excellent news for employers, members and students, who will ultimately benefit from this joint arrangement'.
Adam Harper, director of professional development at AAT, added: '[This agreement] will remove unnecessary bureaucracy and deliver real advantages to our members and their employers. It serves also to recognise the importance of CPD for all accounting and finance professionals'.
