The Association of Chartered Certified Accountants (ACCA) has called on the European Commission (EC) to regulate the recognition of accountancy qualifications in the EU.
The accountancy body called on the EC to take action under the Skills Portability Initiative (SPI) to make it easier for professionals to work in member states.
The purpose of the SPI is to ensure that skills and competencies are easily identified and used in EU member states to support job mobility, respond to skills shortages and strengthen the bloc’s competitiveness.
However, ACCA argues that national rules and regulations governing the accounting profession in individual member states are a significant obstacle to these goals.
According to the organization, these fragmented frameworks frequently hinder the movement of qualified accountants within the EU and act as a break in cross-border professions.
Currently, accountants who wish to practice in another member state must demonstrate that they understand local regulations and can act in the public interest.
ACCA points out that this requirement could be a deterrent despite the EU’s commitment to free movement of workers.
The body also emphasizes the importance of the profession in helping the EU deliver climate and digital policy, pointing to the role of accountants in guiding businesses through the new obligations associated with the Omnibus Directive package and AI law.
ACCA insists that qualifications obtained in any one EU country must be valid throughout the single market.
ACCA’s head of education recognition, Katrina Smith, said: “ACCA supports the Skills Alliance strategy.
“To advance this strategy, professional qualifications from around the world must have access to appropriate levels of recognition in all EU member states.
“The EC’s intention to advance harmonization comes at a critical juncture, particularly when the pipeline of qualified professionals is insufficient to meet demand.”
“ACCA asks EC to make it easier to identify cross-border accountants” was originally created and published by Accountant, owned by GlobalData.
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