Institutes discuss possible merger
The ICAEW, CIPFA and CIMA have held discussions about a possible merger of the three institutes, in a move that could create the UK's largest accountancy body.
All three institutes confirmed this week that they had been involved in ‘exploratory’ consolidation talks, although there is so far no indication of a proposal to put before members.
A merger between the three institutes would create a body of 200,000 members in more than 100 countries, putting it in a much better position to compete internationally with the ACCA. Neither the ACCA nor ICAS have been involved in discussions.
CIPFA chief executive Steve Freer said this week that the institutes had been reviewing their strategies in light of recent changes in the profession, and that consolidation discussions had ‘inevitably’ taken place.
The full story will appear in the next issue of Accountancy Age, out on Thursday, 15 July and online on the same day.