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The Institute of Chartered Accountants in England and Wales (ICAEW) has set out more detail on its proposed merger with the Chartered Institute of Public Finance and Accountancy (CIPFA), inviting members and students to share their views.
On 30 July, the two bodies signed an agreement to explore joining forces, renewing discussions that were first held in 2005. The organisations said the circumstances that prevented a merger two decades ago had since changed and that earlier concerns had been addressed.
In the three months since signing the agreement, ICAEW and CIPFA have developed further details of their proposal, outlining the history of their relationship, the rationale for the merger and its implications for ICAEW members.
The institutes said they share a commitment to “building a stronger, more connected profession” capable of responding to changing expectations from members, firms and the wider public.
Under the proposal, ICAEW would take a leading role in CIPFA’s governance, formalising what both describe as a longstanding working relationship.
The proposals have been discussed with ICAEW’s board and council, and members and students are being asked to give feedback on the merger.
ICAEW is inviting views on which elements of the institute’s identity should be protected and what assurances should be provided. Members and students are encouraged to submit feedback before the next council meeting on 9 December.
A dedicated webpage providing updates on the merger process will remain open as discussions continue.
Chief executive Alan Vallance said: “This proposal positions ICAEW to lead that evolution, demonstrating how consolidation across the profession can work effectively.
“Alongside setting out the background and vision for the merger, we are posing a series of questions to ensure members are able to share their views with us.”
