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Tuesday, 23rd April 2024
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Accountancy bodies may merge Back  
The Institute of Chartered Accountants in Ireland is in discussions with the Institute of Certified Public Accountants about ways in which the two bodies can come together to create a more unified professions including merging the bodies into one.

David Simpson, president of the ICAI made the announcement of the discussions last month and said ‘Any merger proposal would be put to a full vote of the members of both bodies. The ICAI would only approve such a proposal if it was convinced that it advanced the interests of the profession in Ireland and that it would attract the support of the membership at large.’

Simpson said that there were a number of strong arguments in favour of creating a more unified profession in Ireland. Namely the changing worldwide environment for accountancy, and the already close co-operation between the bodies in running training and representing the views of the industry to Government.

Meanwhile the ICAI has withdrawn from direct participation in the task force of eight accountancy Institutes set up in April 2000 to explore the creation of a new international business professional designation. The business plan produced by the task force was discussed by the ICAI Council recently.

Simpson said ‘While supporting the concept of a global business qualification, with a commitment to ethics and lifelong learning as its core principles, The Council had significant concerns about the viability of the model outlined in the business plan. With regret, the ICAI Council decided that it had no option but to withdraw from direct participation in the project at this time.’

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