Professional chartered accountancy bodies, CIPFA and ICAEW, have announced that they are exploring the potential of working together closely in a new partnership.
The bodies said the “vision” driving the discussions would see CIPFA and ICAEW combine their respective strengths and resources to “better equip them” to serve the public interest across all areas of economic activity, including the enterprise, public and third sectors.
CIPFA and ICAEW said they will now enter further talks with the ultimate aim of bringing forward proposals in 2022.
They added that any outcome to these talks would be subject to approval within both bodies, “as appropriate and necessary under their respective governance requirements, and by key external stakeholders including the UK Government, the Privy Council and other regulators”.
In a joint statement, CIPFA CEO Rob Whiteman and ICAEW CEO Michael Izza said: “We believe there is significant strategic benefit in our two bodies working more closely in the future and our discussions will examine ways of achieving that.”