RegulationAccounting StandardsScotland’s first minister slams ICAEW name plans

Scotland's first minister slams ICAEW name plans

Scotland's first minister Jack McConnell backs ICAS against ICAEW plans for new institute name

First minister of Scotland Jack McConnell has backed ICAS by objecting to
ICAEW and CIPFA plans to name their new body The Institute of Chartered
Accountants if a merger goes ahead.

McConnell has agreed with ICAS that the name would give a ‘false sense of
representational status’ to the merged body.

An ICAS spokesman confirmed that McConnell would push his complaint through
to the Privy Council ‘if required’. The Privy Council would have the final
authority to approve the name of the merged body.

‘We are delighted that the frst minister is backing a strong Scottish
business institution and in doing so, safeguarding the CA brand,’ said ICAS
president Mike Hathorn. ‘ICAS has made it plain, as soon as we became aware of
the ICAEW’s preferred choice of name, that we regard it as unacceptable.’

The announcement is another unwelcome distraction for the ICAEW and CIPFA.

Both institutes are urging members to make a decision on the merger through the
information provided in the proposal, rather than have the controversy over the
body’s potential name become the focal point of argument.

ICAEW chief executive Eric Anstee told Accountancy Age that ‘the
name issue should not cloud voting’.

The Australian, New Zealand and Indian institutes have all recently stated
their opposition to the planned name.

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