CIPFA and ICAEW announce strategic partnership
The announcement follows a joint declaration signed by CIPFA and ICAEW in which they pledged to form an ever-closer strategic alignment to deliver better outcomes for the institutes
The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Institute of Chartered Accountants in England and Wales (ICAEW) have announced a strategic partnership.
The partnership will include a new fast-track route for newly-qualified CPFA and ACA accountants to gain designation of both Institutes and qualify for dual membership.
Launching in early 2024, CIPFA and ICAEW members who have qualified within the past five years will be able to gain CPFA and ACA designation.
They will also be able to qualify for dual membership by taking an additional module with the other institute and submitting a statement of intent.
Initially, this new accelerated route will focus on members working in UK central and local
government and the NHS, but it will also be available for international members.
The partnership also includes an agreement to combine both Institutes’ online resources, align members’ disciplinary schemes and open up facilities at Chartered Accountants’ Hall in London, ICAEW’s head office, for all CIPFA members and students to use.
The announcement follows a joint declaration signed by CIPFA and ICAEW in which they
pledged to form an ever-closer strategic alignment to deliver better outcomes for the institutes.
Rob Whiteman, CIPFA CEO, said: “The CPFA qualification is the gold standard in the public sector, and the ACA is the equivalent in the corporate sector. Through this joint declaration to work together we commit, in the public interest, to the highest quality support for students and members, and facilitate the coming together of public and private sector accountants in practice.
“At its heart, the accelerated route to gain CPFA and ACA designation improves career
opportunities for our students, members and the wider accountancy profession. CPFA and ACA qualified accountants will have the highest specialist skills and most advantageous portability between sectors and geographies.”
Michael Izza, ICAEW CEO, added: “We have long been of the view that closer working between ICAEW and CIPFA will bring significant strategic benefits for both Institutes, which will in turn be good for members, the profession and wider society.
“I am pleased that one of the first fruits of our partnership is a new accelerated route for members to gain CPFA and ACA designation and dual membership. As the private and public sectors become increasingly interdependent in economies around the world, so our members must be highly skilled and flexible, and the new route will help Chartered Accountants achieve this.”
