RSS feedsThe decline in members goes some way to explaining recent recruitment tactics used by the institute and its interest in tying up a merger, possibly with CIPFA, to bolster institute membership figures.
If the current rate of decline continues in 2006 the ICAEW stands to lose 2.5% or 3,200 of its 130,000-membership base.
An ACCA spokesman said: ‘It’s a substantial figure. Perhaps this is why it has been taking some of its recent initiatives, like the attempted merger or asking FTSE FDs to persuade staff to switch allegiance.’
The ICAEW said the drop in membership was not a concern and that underlying growth was solid. The institute was unable to reveal information about the average membership decline per quarter for previous years.
Any possibility of a merger with CIMA was virtually destroyed this week, after claims that the ICAEW had been ‘cold-calling’ management accountants to take up the ACA qualification.
CIMA chief executive Charles Tilley said that fast-tracking ICAEW qualification for other accountants was ‘not in the public interest’ and was unprofessional.
Tilley has asked the Financial Reporting Council’s Professional Oversight Board to examine the ICAEW’s recruitment strategy.
An ICAEW spokesman said the institute had asked only its own members in the FTSE 100 to help with recruitment, and had not cold-called the members of other institutes.
