Something old, something new; accountants celebrate 100 years since the passing of their founding Act

15/09/2008

It was a blending of old and new at Parliament today as MPs, secondary school students and business people gathered to celebrate 100 years to the day since an Act of parliament established the NZ Society of Accountants (now known as the NZ Institute of Chartered Accountants) in 1908, changing the face of business in New Zealand forever. 

Representatives of three Young Enterprise Scheme (YES) companies from three Wellington high schools were on hand to explain their business projects to the crowd, giving the audience a snapshot of the future of New Zealand business.

Their adventurous business ventures included Samuel Marsden College’s ad$um company, which takes the hassle out of applying for IRD tax rebates for under 18- year-olds in part-time work; St Mary’s College’s GIY (grow it yourself) Veges company which encourages young children (through their parents) to get involved in growing vegetables, aided by special starter packs; and Wellington College’s Schmall TXT, a text marketing business offering subscribers discounts and special deals via text messages. YES is run by the Enterprise NZ Trust, which is sponsored by the Institute.

“It is encouraging to see that almost 100 years after accountancy was introduced as part of the Bachelor of Commerce degree in 1911, the Institute still believes in the importance of educating the next generation and has teamed up with Enterprise New Zealand Trust, along with other key sponsors, to encourage and mentor New Zealand’s future business leaders in such a manner,” said the Minister of Commerce, the Hon. Lianne Dalziel.

This year 3,324 students have between them incorporated almost 600 companies through the scheme.

The Minister congratulated the Institute on reaching such an important milestone, and thanked its members for all their work both in the finance sector and in the community.

“I would like to acknowledge the huge contribution the Institute has made to New Zealand over the past 100 years. With nearly 30,000 members and a party to a global accounting alliance it really is a significant achievement.”

“If businesses are the engine of commerce and if capital is the oil, then accountants must be the petrol pump that ensures that the oil can flow to the right place. 
I cannot imagine how our SME sector would survive without the skills you bring to their businesses – we know that you are their most valued advisors.”

Following the speeches – which included special birthday wishes to, and a speech from, Institute incoming president for 2009 Linda Turner, ead of the Business School at Eastern Institute of Technology – Devonshire tea was served and guests were given the chance to talk to the students and to find out what made the brilliant business minds of tomorrow tick.

2008 has been a year of celebration for the Institute as various events around the country have remembered past achievements while also looking forward. 
Its membership, now totalling over 30,000, has played an important role in shaping business in New Zealand. Three of its life members Malcolm McCaw, Athol Mann and Don Trow, attended the event as special guests.

Wellington College students demonstrate their clever text marketing venture at the NZ Institute of Chartered Accountants’ 100th birthday party. Incoming Institute president for 2009 Linda Turner is on the far left, and Commerce Minister the Hon. Lianne Dalziel is second from left.