In a move aimed at fostering greater collaboration and movement between the public and private sectors, chartered accountancy bodies, CIPFA and ICAEW have jointly revealed an accelerated pathway for newly qualified CPFA and ACA accountants to achieve designation of both Institutes and qualify for dual membership.
Michael Izza, ICAEW CEO, said: “I am pleased that one of the first fruits of our partnership is a new accelerated route for members to gain CPFA and ACA designation and dual membership. As the private and public sectors become increasingly interdependent in economies around the world, so chartered accountants must be highly skilled and flexible, and the new route will help our members achieve this.
“We have long been of the view that closer working between ICAEW and CIPFA will bring significant strategic benefits for both Institutes, which will in turn be good for members and students, the profession and wider society.
Eligibility for new pathway
Under the new arrangement, individuals who have obtained their CPFA or ACA qualification within the past five years will be eligible to achieve the other designation and qualify for dual membership, by completing an additional module with the partner institute and submitting a statement of intent.
Initially, the accelerated route will focus on serving members engaged in the UK central and local government as well as the NHS. However, it will be made available to international members worldwide, irrespective of their geographical location.
This initiative is one of the first major outcomes from a joint declaration signed by CIPFA and ICAEW.
This pledge underscores the organisations' commitment to deepening their strategic alignment across a number of areas with the goal of delivering enhanced outcomes for their members, students, and the global accountancy profession as a whole.
Rob Whiteman, CIPFA CEO, said: “The CPFA qualification is the gold standard in the public sector, and the ACA is the equivalent in the corporate sector. Through this joint declaration to work together we commit, in the public interest, to the highest quality support for students and members, and facilitate the coming together of public and private sector accountants in practice.
“At its heart, the accelerated route to gain CPFA and ACA designation improves career opportunities for our students, members and the wider accountancy profession. CPFA and ACA qualified accountants will have the highest specialist skills and most advantageous portability between sectors and geographies.”
As part of their comprehensive partnership, both institutes have agreed to combine their online resources, align members' disciplinary schemes, and open access to facilities at Chartered Accountants' Hall in London, for all CIPFA members and students.
Izza added: “The joint declaration is an important step forward: it embodies our common and now joint commitments to innovation and collaboration in discharging our regulatory, educational and representational responsibilities, including our contribution to effective and evidence-based public policy and the ethos of the profession.”
Whiteman said: “I’m confident that going forwards we’ll see an ever stronger partnership between CIPFA and ICAEW.”
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