RegulationAccounting StandardsProfession’s umbrella body continues without CIMA

Profession's umbrella body continues without CIMA

CCAB lives on - but without CIMA in tow

THE ACCOUNTING PROFESSION’S umbrella body is to continue without CIMA.

The CCAB will operate with the ICAEW, ACCA, ICAS, CIPFA and Chartered Accoutants Ireland, where it will “provide a unified voice on matters of common interest”, according to CCAB secretary and ICAEW chief executive Michael Izza.

CIMA quit the CCAB over dissatisfaction at the level of financial contribution forced upon it towards the running costs of the Financial Reporting Council, as a CCAB member.

Izza said that the institutes took a “hard look” at whether it was worth continuing as the CCAB. “Having soul-searched, we decided to carry on,” he said.

The current FRC restructuring consultation, and EC commissioner Barnier’s proposals for audit reform, are topics that the bodies need to work together on, Izza added.

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