We’re inviting all members and students to review the following information and share your views on the proposed merger between ICAEW and CIPFA. At the bottom of this webpage, you’ll find a short set of questions. Please take a few minutes to provide your feedback – this will be collated and shared with ICAEW’s Council to help inform ongoing discussions.
November 2025 update
ICAEW Council will consider the proposal at its December meeting. We are continuing to gather member and student feedback before that discussion, and we encourage you to share your views in response to the questions at the bottom of this page.
Since the webpage first went live at the end of October, we have updated the FAQs to reflect the questions and points raised through recent member engagement and advisory-group discussions.
History of the merger
ICAEW and the Chartered Institute of Public Finance and Accountancy (CIPFA) have a long-standing history of collaboration, underpinned by shared public interest objectives and complementary strengths across the private and public sectors.
The vision
ICAEW and CIPFA share a commitment to building a stronger, more connected profession –one that is equipped to respond to changing expectations from members, firms, and the public at large. This vision is consistent with ICAEW’s Direction 2030 strategy, which is anchored in maintaining the relevance, enhancing the reputation, and increasing the resilience of the profession. It also reflects CIPFA’s vision to strengthen the profession’s reach, resilience and impact in public financial management. Closer integration enhances the ability of both bodies to lead the profession and support their members in delivering long-term public interest outcomes.
To enable that shared ambition, the proposal would see ICAEW take a key role in the governance of CIPFA, formalising the close working relationship, that has been developed between the two Institutes over several years. This would create a clearer and more joined-up basis for collaboration – one that enables earlier alignment on priorities and better coordination at a strategic level.
Professional bodies are facing increasing demands to modernise, to operate at scale, and to demonstrate clear public value. This proposal positions ICAEW to lead that evolution, demonstrating how consolidation across the profession can work effectively. A more connected profession reinforces confidence in the UK finance sector - giving government, business and the public greater assurance in how finances are managed and decisions made. Combining ICAEW’s global reach and CIPFA’s public-sector relationships will create a capacity-building capability that is second to none - enhancing the profession’s ability to share its expertise and support stronger financial management around the world.
Over time, the scale and shared infrastructure this creates will help both Institutes operate more efficiently - spreading investment in technology, education and regulatory capacity across a larger combined base. And, in an environment where further consolidation is likely, it positions ICAEW and CIPFA as the natural place for that evolution.
Rationale
This proposal reflects ICAEW’s intent to continue to lead the profession in a way that is strategic, sustainable and in the public interest. It ensures we shape the terms of consolidation across the professional accountancy body sector.
The proposal aims to:
- Create a stronger, more efficient group, with the scale and capability to better support the profession’s future and its contribution to the wider economy.
- Combine complementary strengths, including CIPFA’s public sector expertise and networks with ICAEW’s global brand, scale, and infrastructure.
- Strengthen collective influence with government, regulators, and international bodies.
- Enhance impact and public trust through a unified voice across public and private sectors.
Strategically, this will:
- Position ICAEW at the forefront of consolidation – demonstrating that this can be delivered responsibly on our terms, and in a way that protects standards while strengthening the profession as a whole.
- Extend influence through reach, building capacity internationally and strengthening local professional networks.
- Broaden the base over which investment and operational costs are shared, improving value for members and allowing both Institutes to sustain and enhance their services in a cost-effective way.
- Build on existing collaboration by expanding joint work in areas where partnership is already working well.
How this aligns with ICAEW’s Direction 2030 strategy:
This model strengthens ICAEW’s ability to deliver against the five strategic initiatives in Direction 2030:
Frequently asked questions
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What exactly is being proposed?
ICAEW and CIPFA are exploring a proposal under which CIPFA would come under ICAEW’s leadership, while both organisations remain separate entities with their own Charters, brands and qualifications.
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Why are ICAEW and CIPFA doing this now?
The profession is changing rapidly. Closer alignment will help ensure both Institutes can serve members effectively, maintain high standards, and stay relevant in an era of multidisciplinary firms, technology-driven change and shifting talent pipelines.
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How does this benefit ICAEW members?
It creates new opportunities to work across public and private sectors, strengthens ICAEW’s voice with government and regulators, and enables shared investment in education, skills and technology for future generations.
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Will ICAEW be subsidising CIPFA?
No. CIPFA already pays ICAEW for disciplinary services and rent under formal agreements, and each organisation retains ownership of its own assets. Where new and additional opportunities arise, they will delivered and/or procured at cost.
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Will my membership, rights or designations change?
No. ICAEW members remain members of ICAEW. Qualifications and designations - ACA/FCA for ICAEW and CPFA for CIPFA - remain distinct.
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Does this lower ICAEW’s professional standards?
No. ICAEW already delivers CIPFA’s disciplinary and regulatory functions, ensuring consistent, high standards across both Institutes. The proposal strengthens public trust and accountability.
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What does this mean for the future of the profession?
It creates a stronger, more connected profession - one that reflects the way business and finance operate today. By aligning ICAEW’s breadth across business and practice with CIPFA’s expertise in government and public finance, we can lead the next phase of the profession’s evolution responsibly and on our own terms.
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How will members see the benefits in practice?
Over time, members will see closer collaboration across learning, professional development, events and thought leadership. Shared investment in technology and education will enhance member value and help ensure both Institutes stay at the forefront of skills development for the next generation.
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How will this strengthen ICAEW’s international influence?
By combining ICAEW’s global reach and infrastructure with CIPFA’s public-sector expertise, the partnership enhances our ability to shape standards and policy discussions around the world. It also opens opportunities to collaborate with governments and international institutions on public financial management and capacity-building initiatives.
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What happens next?
ICAEW Council will consider the proposal at their December meeting, this will be supported by additional briefings in October and November. Any formal decisions will be communicated to members in due course.
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What does this step actually do?
It puts a governance framework in place that allows earlier alignment, clearer oversight and more coordinated working between ICAEW and CIPFA. ICAEW and CIPFA remain separate organisations under the collaborative merger. It does not amalgamate them into one organisation or change ICAEW’s Charter, qualification or member rights.
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What is not included as part of this proposal?
- It does not amalgamate the two organisations
- It does not change ICAEW’s qualification, Byelaws, Charter or member rights.
- It does not make CIPFA members ICAEW members.
- It does not create any new route into ICAEW membership.
- It does not transfer assets, staff or liabilities between the bodies.
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Why are ICAEW and CIPFA considering this now?
The profession is consolidating. Costs, technology and regulatory complexity are rising. Public-finance capability increasingly shapes market conditions, regulation and investment. This step positions ICAEW to lead that shift, not respond to it on someone else’s terms.
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Does this affect audit rights?
No. Audit signing rights remain governed by the FRC and ICAEW’s Audit Qualification. Neither CPFA nor dual membership gives audit rights.
Have your say
Next steps
