RegulationAccounting StandardsAnstee says vote provides mandate for change

Anstee says vote provides mandate for change

ICAEW chief executive Eric Anstee says narrow miss on merger vote provides basis for closer cooperation with CIPFA

After the ICAEW and CIPFA’s narrow failure in a bid to merge, ICAEW chief
executive Eric Anstee said the results showed that there was still a ‘mandate
for closer’ cooperation with CIPFA.

Of the 56,326 ICAEW members who voted, 67.5% supported the merger, leaving
the institute a mere 540 votes or 0.96% short of proceeding with plans to merge
with CIPFA. CIPFA members supported the move with an 86.7% majority.

‘What these figures also suggest is that a significant majority of those
voting are supportive of consolidation,’ said Anstee. ‘I believe we have a
mandate for closer cooperation with CIPFA and we will be exploring what this
might mean over the coming weeks.

‘While we are disappointed to have just missed out on the required two-thirds
majority, we have seen the largest consultation and interaction on the future
direction of the profession in a generation. That in itself is worth
recognition.

‘We are delighted that such a large number of members have used their vote,
proving that they believe that the strategic direction of our professional body
is relevant to them, and they have valued the opportunity to have their say on
integration as an accelerator to this strategy.’

Anstee said the ICAEW would continue to move forward.

‘The task now is to continue to move the Institute forward. The strategic
review we undertook last year identified a number of initiatives to reinforce
our position as a world-leading professional body,’ said Anstee .

‘As the largest professional accountancy body in Europe I believe we are well
placed to build upon our leadership position going forward.’

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