Last week’s institute council meeting voted overwhelmingly to approve the £2m budget necessary to implement the project which would be fully functioning by 2003.
But several members of the council voiced concerns on the length of the timetable, claiming the technology could be out of date within two years.
The institute’s IT strategy will aim to bring together the vast stores of information currently held in different databases, replacing it with a single system called iBase.
Peter Owen, executive director of professional standards at the ICAEW who is spearheading the project, said: ‘Advances in digital technology and the rapid growth of the internet are transforming our ability to draw key information out of the huge store of data we maintain and to communicate internally, with members and to the world at large.’
However, council member Paul Druckman said the two year transfer cycle was ‘endless’.
He said: ‘Technology will have changed, nothing stays static.’
The £2m budget, including £147,000 for additional staff costs, will be spread over the next three years, though the bulk of the money will be spent between 2001 and 2002.
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