RegulationAccounting StandardsIzza’s not the only one facing a challenge

Izza’s not the only one facing a challenge

Challenge is putting it mildly when describing the future for Michael Izza as he takes over as chief executive at the ICAEW, challenges that we have detailed on our front page

But as he faces the daunting prospect of managing the institute through the
myriad of difficulties it now faces, he will find himself in good company. The
UK’s other professional bodies face their own challenges.

Steve Freer, CEO at CIPFA, is a case in point. Freer was clearly keen on what
turned out to be doomed efforts to merge with the ICAEW because it appeared to
be the only way of ensuring the relevance of its members and winning them the
prestige they desperately need. That CIPFA’s strategic efforts now appear to
hinge on a deepening relationship with the ICAEW only serves to underline the
imperative that a merger has now become.

At ICAS, where Anton Colella is now chief executive, the clouds on the
horizon are less threatening but cast a shadow over the Scottish body’s
competitive position. The ICAEW is strengthening its position north of the
border and raising the need for some positive action.

CIMA is faced with a different set of challenges. With its reputation on the
rise, chief executive Charles Tilley must consolidate the gains while attempting
expansion overseas, an area where, along with ICAS, improvements are required.

ACCA already has that overseas presence, a fact which sees it approaching a
membership comparable to that of the ICAEW. The challenge is to use that to make
Lincoln’s Inn a base to influence government and regulators.

But if all the institutes face one challenge more than any other it is in
justifying their continued existence as separate bodies. That’s where many of
the greatest difficulties will lay.

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