The electives proposal failed by a wafer-thin majority of 8,117 votes to 8,002 – an embarrassing snub for the institute’s elective-supporting council. Salt was rubbed in the wounds as it emerged that only one in seven of the institute’s members had bothered to vote.
The Big Five firms, which provide 60% of institute trainees, supported the reform proposals, which were designed to give students the opportunity to study specialist subjects as part of their accountancy qualifications. KPMG described the vote as ‘very disappointing’.
Thousands of future institute members could now be lost to rival training bodies as leading accountancy firms gear up to carry out their threat of sending their trainees to rival institutes such as the Scots ICA or ACCA.
The Scots ICA has already signalled it could offer optional modules in its syllabus from September 2000 and will consult with Big Five firms about future training provision.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.