Professional chartered accountancy bodies CIPFA and ICAEW have announced that they are in talks to explore the potential of closer working.
The vision driving the discussions would see CIPFA and ICAEW combining their strengths and resources to better equip them to serve the public interest across all areas of economic activity, including the enterprise, public and third sectors.
In a joint statement, CIPFA Chief Executive Rob Whiteman and ICAEW Chief Executive Michael Izza said: "We believe there is significant strategic benefit in our two bodies working more closely in the future and our discussions will examine ways of achieving that."
CIPFA and ICAEW will now conduct further discussions with the aim of bringing forward proposals in 2022.
Any outcome to these discussions will be subject to approval within the Institutes, as appropriate and necessary under their respective governance requirements, and by key external stakeholders including the UK government, the privy council, and other regulators.
Notes to editors
For more information please contact the CIPFA press office on +44 20 7543 5885 or email mark.davey@cipfa.org, or the ICAEW media office on 07918 767 822 or email media.office@icaew.com
About CIPFA
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA shows the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.
About ICAEW
There are more than 1.8m chartered accountants and students around the world and 186,500 of them are members and students of ICAEW. They are talented, ethical and committed professionals, which is why all of the top 100 global brands employ chartered accountants.
ICAEW promotes inclusivity, diversity and fairness. We attract talented individuals into the profession and give them the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet's resources are managed sustainably.
Founded in 1880, we have a long history of serving the public interest and we continue to work with governments, regulators and business leaders around the world. As an improvement regulator, we supervise and monitor over 12,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.
ICAEW is proud to be part of Chartered Accountants Worldwide, a global network of 750,000 members across 190 countries, which promotes the expertise and skills of chartered accountants on a global basis.
We believe that chartered accountancy can be a force for positive change.
By sharing our insight, expertise and understanding we can help to create strong economies and a sustainable future for all.