Got a letter yesterday from them and a couple of emails today.
If it goes ahead (its down to a vote by the members) then they would be the 20th largest IFAC recognised accountancy body with 35k members (bit of a p**s in the ocean compared to the ACCA but still substantial and they're still growing).
The reasoning I feel behind this is that they are attempting to grow in order to make a serious move for chartered status.
I would be interested to know whether one gains any more letters as a result of this merger.
I still need to read the Q&A's in this months Financial Accountant when it arrives but at the moment personally I'm heading towards a yes vote.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Respectfully suggest that the IPA is making a grave mistake, given that they have full audit rights and status in Australia and are merging with a body that is not one of the 6 recognised accounting bodies / RQB's in the UK. Maybe a merger with the AIA would have been better?
No offense to IFA members posting here / disparage their credentials, but it just seems like an unequal merger given the current status of the IFA. At one stage (2005?) it was proposed that the IFA become a feeder institute for failed CIMA's and ACCA's. Ouch.
A lot has changed since 2005 with IFA now being recognised by IFAC.
I don't think that categorising it as an institute of failure does it justice. Surely a better way to look at it would be to think that much of the membership is CIMA and ACCA trained which of course can only lead to improved quality of membership.
p.s. Just for info, I'm not a failed anything.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
If the IFA is held in such low esteem by AIA why are they trying to poach IFA members (or perhaps that is an unfounded rumour and the mailshots were random). IFA current status includes OFQUAL and IFAC so moving in the right direction. Do AIA subscribe to any particular code of ethics?
Understood. I don't have in-depth familiarity with the IFA or the AIA for that matter, but I was only commenting on the disparity of status regarding audit rights, which seems to make for an awkward merger fit.
Maybe if the IFA plans to upgrade its audit status in the future it may make more sense as the available services avenues for one's practice would be greatly increased?
Anyway, there may be a smidgen of sensitivity arising from my post and I was specifically not looking to provoke any such reaction, so forgive any provocation.
A merger between the IPA, IFA and AIA might actually be a good idea! According to Wikipedia the AIA have about 8500 members. Presumably the same benefits would be gained by them as are likely to be gained by the IFA, greater resources, better services to members, more influence.
They could form the Association of International Public Financial Accountants!
For info, both bodies will continue to retain their separate branding, qualification and membership arrangements. One of the main aims of the merger is to share back office resources.
-- Edited by David Ballantyne on Thursday 16th of October 2014 10:00:19 PM
