RegulationCorporate GovernanceIzza is ‘arrogant’ say critics

Izza is 'arrogant' say critics

The ICAEW strategy of integration is arrogant, opponents have said, responding to the announcement from the body’s new chief last week

Michael Izza promised that he would continue to push the consolidation agenda
that saw his predecessor Eric Anstee come under pressure from the membership.

The commitment of the institute’s new head to consolidation and future merger
attempts has already provoked the ire of some members, who have painted him as
another Anstee.

In a letter to Accountancy Age, Malcolm Howard described Izza as
arrogant and said consolidation would have no effect on the profession’s
standing or reputation.

‘Michael Izza is the latest in the long line of leaders who have the
arrogance to believe that they know better than the membership, by constantly
harping on about integration,’ Howard said.

Influential Big Four figures backed the appointment, however. Peter Wyman,
former president of the Institute and
PricewaterhouseCoopers head of
public affairs, said: ‘It’s a good appointment and provides consistency for the
institute.’

A vocal group of ICAEW
members successfully blocked the attempted merger between CIPFA and the ICAEW
last year and now have Izza in their sights.

Opponents of the merger also voiced their discontent online. One commentator,
James Chait on stopthemerger.blogspot.com, said Izza’s appointment was a ‘joke’.

‘I wonder how much we paid the headhunter on abortive fees and how much of a
pay-off Izza will receive when the all too predicable fall from grace comes,’
Chait said.

Izza has also received criticism for the £65,000 he has invested in
rebranding the ICAEW.

Dave Clegg wrote to Accountancy Age that he was pleased he had
resigned his ICAEW membership.

‘As I see you’re into advocating corporate rebranding and another merger, it
looks like I made the right decision to spend my hard earned shekels on myself
rather than let you squander them,’ Clegg said.

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