RegulationAccounting StandardsICAEW resignations top 800 this year

ICAEW resignations top 800 this year

The ICAEW haemorrhages accountants at the beginning of the year, as 800 members resigned during the first three months of 2006, according to council papers

The decline in members goes some way to explaining recent recruitment tactics
used by the institute and its interest in tying up a merger, possibly with
CIPFA, to bolster institute membership figures.

If the current rate of decline continues in 2006 the ICAEW stands to lose
2.5% or 3,200 of its 130,000-membership base.

An ACCA spokesman said: ‘It’s a substantial figure. Perhaps this is why it
has been taking some of its recent initiatives, like the attempted merger or
asking FTSE FDs to persuade staff to switch allegiance.’

The ICAEW said the drop in membership was not a concern and that underlying
growth was solid. The institute was unable to reveal information about the
average membership decline per quarter for previous years.

Any possibility of a merger with CIMA was virtually destroyed this week,
after claims that the ICAEW had been ‘cold-calling’ management accountants to
take up the ACA qualification.

CIMA chief executive Charles Tilley said that fast-tracking ICAEW
qualification for other accountants was ‘not in the public interest’ and was
unprofessional.

Tilley has asked the Financial Reporting Council’s Professional Oversight
Board to examine the ICAEW’s recruitment strategy.

An ICAEW spokesman said the institute had asked only its own members in the
FTSE 100 to help with recruitment, and had not cold-called the members of other
institutes.

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