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26 Oct 2011
THE ACCOUNTING PROFESSION'S umbrella body is to continue without CIMA.
The CCAB will operate with the ICAEW, ACCA, ICAS, CIPFA and Chartered Accoutants Ireland, where it will "provide a unified voice on matters of common interest", according to CCAB secretary and ICAEW chief executive Michael Izza.
Further reading
CIMA quit the CCAB over dissatisfaction at the level of financial contribution forced upon it towards the running costs of the Financial Reporting Council, as a CCAB member.
Izza said that the institutes took a "hard look" at whether it was worth continuing as the CCAB. "Having soul-searched, we decided to carry on," he said.
The current FRC restructuring consultation, and EC commissioner Barnier's proposals for audit reform, are topics that the bodies need to work together on, Izza added.
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Visitor comments Add your comment
CCAB need to rethink strategy
CIMA going it alone is great news for all accountants and the professional bodies as it needs a true USP and to distance itself from the 'audit' and auditor independence issues that need addressing urgently.
Posted by: john mardle, 27 Oct 2011 | 14:22
Pots and Kettle
It's a bit rich CIMA criticsisiing the CCAB for the level of financial contribution it is forced to make. Perhaps CIMA should look at the constant increase in the financial contribution it forces its members to make.
Posted by: Edward, 27 Oct 2011 | 15:28
ELITE CLUB
There are several accounting bodies but CCAB body is most recognised. Hope CIMA members and students will not end up like those that have qualifications that are in the not CCAB.
CIMA should rethink!
Posted by: ADETAYO ADEBANJO, 28 Oct 2011 | 09:27
Nice one CIMA - a qualification ruined
What's the point of becoming a 'qualified' accountant when your so-called professional body wants to go it alone and not be part of the unified jointly representative body?
CIMA has just become a seriously devalued qualification.....
Posted by: ML, 30 Oct 2011 | 23:10
Better off on the outside
In my opinion, this weakens CCAB more than it does CIMA. If another institute decides to 'jump ship' then it's curtains for the CCAB.
Posted by: David, 31 Oct 2011 | 09:49
it is a good thing
I think CIMA should look at themselves in many regards. It is a good think that they have left. CIMA should never call themselves accountants. Most CIMA people do not even know what a double entry is
Posted by: Craig, 03 Nov 2011 | 09:28