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09 Nov 2010
THE FUTURE structure of the ICAEW's practice-focused group will be debated on Wednesday.
The institute's HQ, Moorgate Place, will be home to a meeting between current practitioner representatives as they discuss how the latest incarnation of the ICAEW practice group should be formed.
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The most recent version, the Practice Advisory Board, was scrapped along with other advisory boards in an attempt to introduce a more streamlined system to handle the various strands of the institute's membership.
Expected to attend tomorrow's meeting are representatives of the Practice Advisory Board; the Practice Society; the ICAEW's Members Services Board; and practice-focused council members including Society of Professional Accountants chairman Peter Mitchell.
He told Accountancy Age that key to the new structure would be the form of the elected committee, plus its objectives. Mitchell has previously criticised the Practice Advisory Board's structure for failing to deal with issues affecting smaller practices.
"The [new body's] constitution must reflect SME practitioners' needs," said Mitchell.
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Visitor comments Add your comment
What is an SME?
Few people, other than some accountants, seem to be aware that 99.9%* of ALL UK businesses fit the official definition of a Small or Medium sized Entity (SME). This is clear from the statistics for SMEs published by the Department for Business Innovation and Skills* (previously the DTI and BERR). These reference a total of almost 4.8 million UK businesses.
The EU definitions for distinguishing businesses of different sizes, and which are used for many official purposes in the UK are effectively:
Small = upto 50 employees and upto £6.5m turnover.
Medium sized = upto 250 employees and upto £25.9m turnover.
I wonder how many smaller firms of accountants really focus on SMEs. And to the extent that they do, isn't this simply 'specialising' in all businesses except for the very largest that are exclusively d/w by the biggest firms.
Posted by: Mark Lee, 11 Nov 2010 | 17:51