ICAS faces member backlash over fees

Link: ICAS in bizarre new marketing ‘drive’

ICAS, which represents 15,000 professionals, has requested a £40 a year hike in its fees to cover a shortfall in revenues it claims was caused by the collapse of Enron.

But yesterday many Scots CAs were lamenting the above-inflation rise and have suggested the institute should take a begging bowl to the big four accounting firms instead of picking the pockets of smaller members.

Jim Campbell, of Glasgow-based Campbell Dallas, said: ‘There are only four firms working in the global market place who may be affected by Enron andinvestor confidence.

‘This has nothing to do with the small and medium-sized businesses sector and Scottish marketplace in which I operate. I see no point in being saddled with extra costs by this self-perpetuating little sub-empire to represent the standing of the accountancy profession for the actions of a US multinational firm.’

The world’s oldest accountancy body claimed that amid the economic turbulence that has followed the Enron and Andersen scandals, business has slowed and firms are putting fewer graduates through accountancy qualifications provided by ICAS.

Without a fee increase, the institute believes it will be forced to tap into its reserves to break even.

The fee increase, which has to be ratified by a ballot on 18 October, would see annual membership costs rise by 13.5% to £335 from £295.

ICAS fees have traditionally been linked to inflation – now pegged at 1.4% – which would have seen an increase of just £4.13 this year.

Related reading

New Logo Saffery Champness