1908 was a year of beginnings. For the first time, the New Zealand population passed 1 million; New Zealand won its first medal in the modern Olympics; the first wireless message was sent between Australia and New Zealand. On 15 September 1908, the New Zealand Society of Accountants Act was passed into law, marking the start of the professional body now known as the New Zealand Institute of Chartered Accountants.

In 1911 the University of New Zealand and the Society reached an agreement on a new Bachelor of Commerce degree that would include the subjects of the accountancy professional course.

The First World War began in 1914. 150 members of the Society served with the Forces overseas; 30 of whom died. During the War, subscriptions of those on active service were waived, public accountants undertook work to maintain the practices of their absentee colleagues, and a free tuition scheme provided retraining opportunities for partially disabled soldiers.

The decade started off economically unsteady and grew progressively worse until 1933. In the depression years between 1930 and 1932 membership of the Society dropped to 1944 as 291 members allowed membership to lapse. After 1933, the economy began a gradual recovery. In Europe, totalitarian fascist and Stalinist governments were seen as the solution to the depression. China and Japan adopted militarist governments. In both areas, external enemies were blamed for internal conditions and consequent repression.

By contrast, western countries such as the United States and New Zealand attempted to use government spending to combat unemployment and negative growth.

World War II involved two wars: one in Asia, which began in 1937, and one in Europe which began in 1939. These wars joined when Japan attacked the United States at Pearl Harbour in 1941. As with the First World War, many Society members served in the armed forces – 967 are named in the official Roll of Honour, 30 percent of the membership. 48 members lost their lives.

Towards the end of World War II, with the resignation of the Society’s secretary, the Council agreed to appoint a full-time secretary who would also act as editor of the Journal. James (Jim) Tocker was appointed, and faced a number of challenges, including finding permanent premises in Wellington and managing the huge growth in membership between 1946 (3627 members) and 1952 (5560 members).

The population of New Zealand passed 2 million in 1952.

In 1953, Queen Elizabeth II was crowned; Edmund Hilary and Tenzing Norgay were the first people to reach the summit of the world’s tallest mountain, Mt Everest; and 151 people died when a lahar from Mt Ruapehu destroyed the railbridge at Tangawai. In the same year, Jim Tocker stepped down, and was replaced by Alan Graham.

During the 1950s, the Council sought to introduce a practical experience requirement for candidates for admission. After previous attempts had failed, in 1955, the members accepted recommendations that all prospective members had to show five years’ practical experience in an organisation capable of providing appropriate training. This change in qualification requirement meant a change in the Society’s Act and in 1958 the New Zealand Society of Accountants Act 1958 was passed, authorising the Society to “regulate the practice of the profession” in New Zealand. (This clause is retained in the 1996 Act.) 1958 was also notable for the introduction of the PAYE income tax system, and the first 111 emergency telephone system.

The trend for New Zealanders to travel overseas began in the years after the war. In 1959, more than 200 members were living overseas – many of them in London; today, 20% of members are resident somewhere other than New Zealand, and the largest offshore branch is the UK Branch.

Between 1959 and 1960, the University of New Zealand established chairs of accounting in each of its four main colleges. The University was dissolved in 1961 and the four colleges each became a separate university.

The 1960s saw the building of the Berlin Wall, New Zealand’s decision to send troops to Vietnam, the founding of the Palestinian Liberation Organisation, the assassination of Martin Luther King, the rise to fame of the Beatles, the first manned landing on the moon, Peter Snell’s outstanding success in the Olympics at Rome and Tokyo and the Wahine disaster in Wellington.

Alan Graham resigned as the Society’s fourth secretary, and was replaced by Ross Macdonald.

In 1967, decimal currency was introduced in New Zealand.

In 1972, the Incorporated Institute of Accountants of New Zealand was wound up and its funds transferred to the Society, now the only national organisation in the field.

In 1973, the Professional Standards Committee was established to issue Statements of Standard Accounting Practice. This was also the year that the United Kingdom entered the European Common Market and the population of New Zealand reached three million. In the following year, the Society became an associate member of the newly formed International Accounting Standards Committee (IASC).

In the West during the 1970s, feminism and gay rights became prominent. The hippie culture, which had begun in the 1960s, continued through to the end of this decade. The emphasis shifted from the social activism of the 1960s to a focus on personal pleasure. In New Zealand, Waitangi Day became a national holiday – and also a focus for Maori protest.

The 1980s saw the official announcement of the AIDS epidemic, the Falkland War, New Zealand’s first Lotto draw and the introduction of the Goods and Services Tax (at a rate of 10%).

The Final Qualifying Examination (FQE) was introduced in 1989, the same year as the Public Finance Act, which required Crown government departments and Crown agencies to prepare financial statements in accordance with generally accepted accounting practice and have them audited.

During the 1980s the Berlin Wall fell, signalling the end of the Cold War between the United States and the Soviet Union. In this decade, there was unprecedented population growth around the world. In the west, the 1980s saw the appearance of the yuppies – an acronym for young urban professionals, who were entering prestigious professions in large numbers and spending their salaries on trendy consumer goods.

Ross Macdonald retired in 1992 and was succeeded as Executive Director by Diana Pryde.

In 1994, the new college structure (Chartered Accountant and Associate Chartered Accountant) was applied to existing members and the Accounting Technicians College was started in 1995. The Institute of Chartered Accountants in New Zealand Act was passed in 1996, maintaining the Institute’s role as a regulatory body with responsibility for the profession in New Zealand.

In 1998, Advanced Business Education Limited (ABEL) took over responsibility for administering Professional Competency Exams on behalf of the Institute. The last FQE and the first Professional Competency Exam 2 were held.

In 1999, the Institute elected its first woman President, Sue Sheldon of Christchurch.

In the 1990s, there was a huge increase in the number of people purchasing personal computers for use in their homes. This in turn led to the development of the Internet, from a defence and science-based network in the 1970s and 1980s to a widespread resource for social and commercial networking and transactions. In this decade, too, the DVD media format was developed.

Diana Pryde resigned in 2002 and was succeeded by chief executive Garry Muriwai.

In 2006, the Institute began operating as the New Zealand Institute of Chartered Accountants, bringing its name into line with international practice.

In 2007, Mr Muriwai resigned to take up an opportunity overseas. Recruitment of the eighth executive officer in the 100 year history of this professional body is currently under way.

In New Zealand and around the world, this decade has been dominated by some major topics: terrorism and war, energy supply, climate change. There has been enormous growth in the Chinese and Indian economies. The War on Terrorism has dragged on through the decade, generating controversy around the world.

One of the features of the decade has been the increasing spread of technology, until having an email address and a mobile phone are common in the western world and regarded almost as necessities by younger people. Items such as MP3 players and digital cameras, which were very expensive in 2000, are now within the reach of people on the average wage.