RegulationAccounting StandardsCIPFA upbeat despite ‘no’ vote

CIPFA upbeat despite 'no' vote

Despite failure of merger proposals CIPFA remains upbeat

The large number of people voting for the ICAEW-CIPFA merger represented a
‘mandate for change,’ CIPFA President Diane Colley said after the vote was
announced, despite the merger not going through.

The CIPFA vote itself sailed through, with 87% in favour, whilst the ICAEW
were just 0.96% short, with 65.7% in favour. Both institutes required two-thirds
majorities.

Speaking after the numbers were announced, Colley said: ‘Clearly it is very
frustrating that after all the hard work, we should fall short by such a narrow
margin.

‘Nevertheless this is not the end of the world. CIPFA is in excellent health
– that’s why we’ve been able to play such a leading role in these important
discussions about the profession’s future.

‘And today’s results are not without their positive side. In many ways they
represent a very powerful mandate for change – 86.7% and 65.7% support cannot be
interpreted in any other way.’

The two institutes will continue to collaborate, Colley and chief executive
of CIPFA Steve Freer said.

Colley thanked CIPFA members: ‘We have shown yet again that CIPFA members are
prepared to rise above self-interest and think about the interests of the
profession and the public,’ she said.

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