RegulationAccounting StandardsVote against AICPA seats on CIMA council, urges ex-president

Vote against AICPA seats on CIMA council, urges ex-president

Peter Layhe wants council to be CIMA-only, as AGM vote will allow AICPA representation on its council

A FORMER CIMA president has urged members to vote against allowing representatives of US institute AICPA onto its council.

Peter Layhe, the former CIMA president who has been a vocal critic of the institute’s joint designation venture with the AICPA, wants by-law changes rejected by CIMA members. The changes would allow CIMA to place four non-members onto council, which it plans to fill with AICPA representatives.

“We need CIMA members running CIMA affairs,” said Layhe.

“These [by-law changes] open the door for council to co-opt non-members to council as council of the day think fit but with a limit of four – for the time being. There is presumably a counter arrangement whereby AICPA will allow some CIMA members to sit on their board equivalent – although the papers make no such reference even by way of comment, nor show how they will be selected.”

Layhe has previously criticised the joint venture between CIMA and AICPA, where they share new designatory letters, as “adding nothing”.

A CIMA spokesperson said that its members were “extremely positive” about the joint venture with the AICPA and the advantages it offers.

“We expect CIMA’s members, in support of CIMA, will vote to enable four colleagues from the AICPA to join CIMA’s council and work with it to make the joint venture the success members want it to be. That is what those members will be for; they will not seek election to office in CIMA,” said the spokesperson.

CIMA’s AGM takes place on 9 June.

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