PracticePeople In PracticeInstitutes confirm two-phase merger process

Institutes confirm two-phase merger process

ICAEW and CIPFA are to press ahead with consolidation, while CIMA will join later.

The ICAEW and CIPFA are to press ahead with merger proposals despite rejection of the proposals from CIMA, the bodies confirmed today.

Link: New ICAEW vice-president pledges ‘an edge’

Subject to both councils’ approval this month, the merger will become a two-phase project, with CIPFA and the ICAEW putting proposals to their members before Autumn.

However, discussions will continue with CIMA, with a view to bringing the management accountant’s body on board at a later date. It is hoped proposals will be put to members of all three institutes no later than 2006.

In a joint statement CIPFA and ICAEW presidents Mike Barnes and Paul Druckman said: ‘We believe that this two stage approach allows us to put early detailed proposals to our members while the three bodies continue to negotiate the full consolidation proposal.

‘By initially combining forces ICAEW and CIPFA will set a powerful precedent for what can be achieved. At the same time this approach will create a pathway for CIMA to be part of the phased consolidation process which we will be actively helping facilitate.’

CIMA president Roland Kaye said that the body ‘is committed to consolidation and will be working hard to resolve rapidly any outstanding issues. The two stage process identified will create the space for us to get the terms of this critically important proposal absolutely right for all parties.’

Related Articles

Moore Stephens appoints three new partners

People In Practice Moore Stephens appoints three new partners

3d Emma Smith, Managing Editor
Mental Health Awareness Week: How organisations can help ensure good employee wellbeing

People In Practice Mental Health Awareness Week: How organisations can help ensure good employee wellbeing

1w Reafad Rahman
Mental Health Awareness Week 2018

People In Business Mental Health Awareness Week 2018

1w Accountancy Age, Reporters
Accountancy Age 35 under 35 2018 – last chance to enter!

People In Business Accountancy Age 35 under 35 2018 – last chance to enter!

2w Emma Smith, Managing Editor
Women in Finance: is the future of finance female?

People In Business Women in Finance: is the future of finance female?

2w Emma Smith, Managing Editor
Mazars announces two partner appointments, increased fee income growth

People In Practice Mazars announces two partner appointments, increased fee income growth

1m Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
RSM appoints two new regional managing partners

People In Practice RSM appoints two new regional managing partners

1m Alia Shoaib, Reporter