On 30 July ICAEW and CIPFA signed a new agreement to explore a potential merger between the two institutes.

The organisations, which have a long history of collaboration and cooperation, previously considered joining forces in 2005. While the merger didn’t proceed then, two decades on the context has changed and the organisations believe that concerns raised then have been addressed.

Over the past three months, ICAEW and CIPFA have been developing the details of their agreement, and are now sharing more information on: 

• the history of ICAEW and CIPFA’s relationship,
• the rationale for the proposed merger, and
• what this means for ICAEW members.

Shared vision

The new information outlines ICAEW and CIPFA shared 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.

To enable this vision, the proposal would see ICAEW take a key role in the governance of CIPFA and formalising the close working relationship between the bodies.

With professional bodies facing increasing demands to modernise, to operate at scale, and to demonstrate public value the merger offers a great opportunity.

Alan Vallance, ICAEW’s Chief Executive, says: “This proposal positions ICAEW to lead that evolution, demonstrating how consolidation across the profession can work effectively.” 

Members’ views

The proposals have been discussed with ICAEW’s Board and Council, and all ICAEW members and students are now being asked to share their feedback.

“Alongside setting out the background and vision for the merger, we are posing a series of questions to ensure members are able to share their views with us,” says Vallance.

Members and students are asked to share their support the proposals, as well as what aspects of ICAEW’s identity should be protected and what assurances should be provided.

ICAEW is encouraging students and members to complete their feedback ahead of the next Council meeting on 9 December. The new webpage offering information on the merger  will remain open and be updated as the process develops.