There have been “challenges” in setting up the potential “closer working” between CIPFA and the ICAEW, the director of public sector and taxation at the ICAEW has admitted.
At Room151’s Monthly Online Treasury Briefing (MOTB) last week, Alison Ring stated that talks on “closer working” have faced difficulties due to the chartered status of both bodies.
She said: “There have been some challenges because of the Privy Council as we are both chartered bodies and CIPFA has to also comply with the Charity Commission principles as well.
“So, there have been challenges around getting over those sorts of barriers to join the two organisations together.”
The two professional chartered accountancy bodies proposed talks to explore “closer working” in December 2021.
The purpose of the discussions was to combine the strengths and resources of both organisations to better equip them to serve the public interest across all areas of economic activity.
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At Room151’s MOTB, Ring stated that the two organisations have worked on several projects together despite the difficulties faced, “for example, we did a joint response for the consultation on IFRS 9”.
She added: “I think it’s important that we do work together because I think we can both learn the best practice from each other, take the best ideas and be the best professional accountancy organisations that we ought to be.”
Earlier this month, Room151 asked CIPFA and the ICAEW whether “closer working” between the two bodies was still happening.
Both organisations stated that discussions were still “ongoing” and “in the meantime, we continue to collaborate in a number of areas”.
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