The ever-increasing interdependence of the public and private sectors mean that finance professionals need to be more adaptable and skilled than ever before. CIPFA has been working more closely with ICAEW (the leading accountancy body for the private sector) since 2021, to endeavour to deliver better outcomes for the accountancy profession, including providing wider career opportunities for CIPFA and ICAEW members and students.
Launching in early 2024, the CIPFA/ICAEW dual membership will enable CPFA (CIPFA) qualified accountants to also gain the ACA designation and vice versa.
If you are looking to qualify as a dual member through this partnership you will now be able to achieve this much sooner. Currently, you would need to have five years relevant work experience to apply to either body for dual membership. You will now be able to do this by completing and passing one additional professional level module and a statement of intent.
This is an exciting time for finance professionals and we’re proud to work together to deliver something that will transport skills across the public and private sectors.
- CIPFA members with less than five years’ experience will need to complete and pass the ICAEW Corporate Reporting module and examination and complete a statement of intent to enable them to apply to become an ICAEW member and use the ACA designation, alongside the CPFA designation – and vice versa for ICAEW members who would need to pass the Public Sector Financial Reporting module.
- CIPFA Members who have more than five years’ experience will not be required to take the additional module as they are able to become an ICAEW member based on their professional experience through the ICAEW pathways option.
Benefits of the Dual Membership
- CPFA (CIPFA) qualified accountants will also be able to gain the ACA designation and become a member of ICAEW, and use both sets of designation – and vice versa.
- Portability – the portability of the dual membership will open up wider career possibilities for members and newly qualified members without the worry of being able to work outside of the public sector in the future.
- Access to both CIPFA and ICAEW Member benefits.
Find out more
If you are interested in finding out more about the new CIPFA/ICAEW dual membership, then please complete our expression of interest form.
If you have any questions regarding the dual membership please contact:
Telephone: +44 (0)20 7543 5600
Under the Companies Act 2006 and the Statutory Audit and Third Country Regulations 2016 the responsibility for all matters relating to audit regulation is reserved to a ‘Competent Authority’ which is the Financial Reporting Council (FRC). UK statutory audit rights will not be conferred on Members of one party joining the other under this route.
The Local Audit and Accountability Act 2014 (LAAA 2014) introduced arrangements for regulating the auditors of local bodies in England (principally local authorities and health bodies, other than Foundation Trusts). Such regulations must be approved by the Financial Reporting Council (FRC). Local audit rights will not be conferred on Members of one party joining the other under this route.