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1939-1967

A timeline of the development of the Accountancy Profession in the United Kingdom. This page covers developments between 1939-1967, including the establishment of courses for servicemen returning from the Second World War, the publication of the first Member's Handbook and the extension of Chartered Accountant's Hall.

1939 - 1945 World War Two sees the area around Moorgate Place badly damaged during bombing raids on London but Chartered Accountant's Hall escapes save a few broken windows. Approximately 3000 Institute members, over a quarter of the membership, serve with the Armed Forces.
1939 Association of Certified and Corporate Accountants is formed following the merger of the Corporation of Accountants in Scotland and the London Association of Certified Accountants.
1939 Tax is levied on the 'excess profit' above the standard at 60 per cent.
1940 Tax is levied on the 'excess profit' above the standard at 100 per cent.
1940 'Pay-as-you-earn' tax is introduced to simplify tax collection.
1941 Institution of Certified Public Accountants merges with the Association of Certified and Corporate Accountants.
1941 The value of accountants in the management of the war effort starts a movement to give non-practising members some influence in the ICAEW and possibly representation on the Council.
1942 At the Annual General Meeting of the ICAEW it is decided that non-practising members should not sit on the Council. Instead a Taxation and Financial Relations Committee (later the Taxation and Research Committee) is set up to deal with matters affecting taxation and business finance with the Inland Revenue and the Government. This signals the start of non-practising members dealing directly with Institute Affairs.
1942 Society of Commercial Accountants is formed.
1943 F. R. M. de Paula, Controller of Finance for the Dunlop Rubber Company is the first non-practising member to be elected to the Institute's Council.
1945 ICAEW organises weekend 'refresher' courses and regional lectures for returning servicemen in the profession. This later developed into a programme of 'Continuing Professional Development' that is still in operation today.
Circa
1950s
The first ICAEW Member's Handbook is published offering guidance to members.
1950 Association of Practising and Commercial Accountants is formed.
1951 Institute of Chartered Accountants of Scotland (ICAS) is formed following the merger of the Society of Accountants in Edinburgh, the Institute of Accountants and Actuaries in Glasgow and the Society of Accountants in Aberdeen.
1954 Society of Incorporated Accountants and Auditors is renamed the Society of Incorporated Accountants.
1955
(Christmas)
The Society of Incorporated Accountants and the ICAEW agree terms to merge. Members of the Society are to disband and join either the ICAEW, ICAS or ICAI.
1957 (1 Nov) The Society of Incorporated Accountants goes into liquidation.
1957 Members of the Society of Incorporated Accountants become members of the ICAEW, ICAI and ICAS.
1959 Architect William Whitfield is commissioned to extend Chartered Accountant's Hall by the inclusion of a Great Hall for large meetings.
1961 Association of Practising and Commercial Accountants is absorbed by association to the British Association of Accountants and Auditors.
1964 ICAEW Council sets up a committee to reappraise education and training policies.
1967 Companies are required by law to publish a sales figure in the profit and loss account.
Next section: 1968 -