The accounting profession in Australia is constructed in a similar manner to the accounting profession in the United States. Whereas in the United States there is one professional body called the American Institute of Certified Public Accountants (AICPA), in Australia there are two professional bodies – CPA Australia (CPAA) and the Chartered Accountants Australia and New Zealand (CAANZ).
These two bodies are very important to the conduct of accounting in Australia. For example, it is these two bodies which accredit degrees in Australia and grant professional recognition.
They both have well-developed websites with many accounting related resources. Full members of the CPA Australia are called CPAs. Members of CAANZ are commonly called Chartered Accountants – CA’s.
The two Australian professional bodies represent the profession in discussions with government and also promulgate accounting standards.