16 June 2005
Talks concerning the consolidation of CIMA, CIPFA and ICAEW are continuing. As recently as 8 June a meeting of the three institutes’ leadership teams reviewed outstanding issues and timescales. In the meantime, the proposed integration of CIPFA and ICAEW – potentially a stepping stone to the tripartite scheme – continues to progress towards membership votes in October 2005.
CIMA has previously put forward principles that it believes need to be adopted in order for a successful consolidation to take place between CIPFA, CIMA and ICAEW. It was recognised that although agreement has previously been reached on a number of key issues, others, including designatory letters and name, remain to be determined. However, the support of all three bodies to the principle of consolidation within the accountancy profession, and of CIMA, CIPFA and ICAEW in particular, on the right terms, remains.
ICAEW has set up a working group and one of their principal briefs is to review the CIMA consolidation principles. This group is due to report by October 2005.
It was confirmed that discussions would continue in a staged approach, but it was also appreciated that material change in the present position one way or the other was unlikely until after the CIPFA/ICAEW votes, and the outcome of the consolidation working group, in October 2005.
1. CIMA (the Chartered Institute of Management Accountants) is a leading professional body that offers an internationally recognised qualification in management accountancy, focussing on accounting in business. It is the fastest growing UK based membership body, in terms of members, in both the UK and worldwide and is the voice of over 85,000 students and 65,000 members in 156 countries. CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually reflecting the latest developments in global business. It is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy. For more information about CIMA, please visit www.cimaglobal.com
For further information, please contact:
Lottie Muir
Press & PR Manager, CIMA
020 8849 2407 Lottie.muir@cimaglobal.com
