ICAEW wins vote over subscription hike
ICAEW gets go-ahead to increase members' subscription fees by 9%
ICAEW members have given the go ahead for a hefty increase in subscription fees in a bid to develop the ACA qualification.
Members voted 63.7% in favour of increasing the basic member subscription by 9%, to £252 from £231, in an announcement made today at the ICAEW’s annual meeting.
The extra £1.5m generated a year will go towards producing a ‘more flexible’ modular ACA qualification, and will also go towards its marketing.
Speaking on his last day as president, Paul Druckman said that members had recognised the importance of ‘preserving the quality’ of the qualification.
Some observers had suggested that the subscription hike was too high, and would instead go towards funding the ICAEW’s plans to merge with CIPFA and CIMA.
More than 15,000 members voted, which represents roughly 12% of the total number of ICAEW fee-payers.