Institutes – CIMA shrugs off rejections

CIMA has signalled its determination to pursue closer links with competing accountancy institutes, despite approaches to ACCA and CIPFA being snubbed last month.

In March, in a publication called ‘Design for a Profession’, CIMA called on other institutes to shelve their merger plans and co-operate more closely in non-contentious areas through special interest groups, such as international standard setting.

The publication marked the first stirrings of the merger debate since ACCA’s abortive three-way link-up with CIPFA and CIMA last year. Members of the other two institutes rejected CIMA’s advances.

Last week David Adams, CIPFA’s chief executive, said co-operation and competition were mutually exclusive. But Jake Claret, CIMA’s deputy secretary, and author of the report, replied this week that CIMA would press ahead with plans to ‘blur the lines’ between the institutes by stressing their common ground in arenas like the Consultative Committee of Accountancy Bodies.

Claret added that bringing the institutes closer together would carry more weight in negotiating a better deal for the UK over international accounting standards. ‘The others are looking at the end game – we’re saying let’s start at the beginning,’ he said. ‘Its ridiculous to say we can’t co-operate because we compete – we already co-operate in the CCAB.’

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