Around a quarter new City accountants recruited overseas say consultants

News Article - 21 May 2012
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Two accountancy bodies in the UK have signed a memorandum of understanding outlining a framework for a strategic partnership.

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Institute of Public Finance and Accountancy (CIPFA) have agreed to work together on a series of projects to ensure that they meet their public interest obligations.

In addition, the partnership is set to benefit members and students within the two institutes while making the bodies more capable of responding to the needs of the industry, Michael Izza, chief executive of the ICAEW, has claimed.

Meanwhile, Steve Freer, CIPFA chief executive, said: "I am absolutely convinced that by shifting the emphasis from competition to trust and cooperation we can develop a new model for the profession which increases value for members and amplifies our voice and influence."

Currently, the two bodies are working on initiatives which address policy representations in relation to professional and technical matters.

CIPFA recently updated its governance framework for local authorities to ensure that councils can achieve high standards and management performance.

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