Leader - Vote for the future, not the past
Chartered accountancy is at the crossroads. As you read these words, thousands of members of the English ICA are voting on the institute’s education and training reforms. Campaigners on both sides have spent months arguing about the details of the ICA’s proposal for new ‘electives’ which would require students to cover specialist areas as well their core training.
It would be easy to get lost in the details. Easy, but professionally fatal.
Critics of the education and training directorate’s proposals argue that electives will destroy the principle that accountants need to be all-rounders.
The same argument was once advanced on behalf of doctors. But that was back in the days of Dr Finlay and his Casebook. Like tweedy doctors, tweedy accountants are almost a thing of the past.
In the fast-changing world of modern business only the adaptable prosper.
Chartered accountants can no longer count on the ‘premium qualification’ to see off increasing competition. The threat to raise the level of audit exemption will destroy another chunk of guaranteed, if poorly paid, work.
And now the Big Five, which train almost two-thirds of all English ICA students, have warned they will stop training unless the institute modernises its syllabus. The Scots ICA waits in the wings, electives in hand.
So there is much more at stake than subjects on an exam paper. This vote will decide the future of the English ICA itself.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn 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 resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article