Institutes embroiled in 'scum of the earth' hierarchy row
Small institutes outraged by the ICAEW's plans to create a hierarchy of accountants, which will have the CCAB at the top and the book-keepers at the bottom
Small institutes outraged by the ICAEW's plans to create a hierarchy of accountants, which will have the CCAB at the top and the book-keepers at the bottom
The ICAEW wants to create a hierarchy of accountants, with the
Consultative
Committee of Accountancy Bodies at the top and book-keepers at the bottom.
The radical moves, which emerged in private papers published by accident on
the institute’s website last week, have outraged smaller institutes.
The plan, part of moves to formally recognise the ‘accountant’ term, would
see CCAB members top the league table, followed by financial accountants,
accounting technicians and then book-keepers.
The ICAEW intends to submit the structure to the Privy Council. ‘There was to
be a mapping exercise carried out, so that the relative positions of the other
accountancy bodies could be established,’ the council papers say.
But the papers acknowledge that the plan is likely to meet with fierce
opposition from ‘second tier bodies’ such as the Association of International
Accountants and Institute of Certified Bookkeepers.
The ICAEW said it would
not comment on private documents, thought to have been intended for the council
only.
ICB chief executive Garry Carter said: ‘Our members are highly qualified,
they are not the scum of the earth.’
Philip Turnbull, chief executive of the AIA, said the proposed structure was
more about the ICAEW’s commercial interest than the interest of the industry and
public at large.
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW cited managing insurance costs, firms struggling to obtain coverage, assessing risk-taking capacity, and evolved firm structures as drivers ...
View articleThe IESBA emphasizes the importance of timely and global adoption of their standards. For corporate accountants, this means staying updated with chang...
View articleKPMG's faces record fine for a widespread exam cheating scandal, implicating senior staff and highlighting systemic ethical issues in the professional...
View articlePwC's Australia tax scandal has led to significant changes, including over 300 job cuts and the refusal to share a crucial report with Australian parl...
View articleAccountants and accounting firms play a crucial role in maintaining financial integrity, facing ethical dilemmas and regulatory challenges. Adherence ...
View articleThe creation of an effective sustainability standards infrastructure requires not only high-quality sustainability reporting and assurance standards, ...
View articleChanges will help to make accounting profession more attractive, ICAEW boss says Read More...
View article38% of firms required significant improvements, prompting the council to state Tier 2 and Tier 3 firms must "prioritise audit quality improvements and...
View article