More than 37,000 members of the only two Irish-based accountancy bodies, Chartered Accountants Ireland and CPA Ireland, are set to vote on Wednesday February 21 on a proposal to amalgamate the two organisations.
This would establish a single Institute, under the Chartered Accountants Ireland name, with a stronger voice to represent the accountancy profession and create the largest professional body on the island of Ireland.
Globally, the accountancy profession is seeing a move towards consolidation of professional membership organisations.
Chartered Accountants Ireland and CPA Ireland say they are proactively seeking amalgamation to better position the profession for the future, driving new growth opportunities while meeting challenges together.
Over recent months both bodies have discussed their shared goals and the strategic position of the accountancy profession.
During this exploratory process, significant similarities in the visions and objectives of both organisations were identified, as well as within the education and regulatory environments in which they operate.
And this has culminated in a new proposal to amalgamate as a next logical step for both organisations.
Sinéad Donovan, president of Chartered Accountants Ireland, which represents almost 33,000 members in over 100 countries and 6,000 students, said “The decisions taken by bodies representing the accountancy profession in Ireland over the next few years will have implications for decades to come.
“As the only two Irish based accountancy bodies, coming together as a newly enhanced Chartered Accountants Ireland will strengthen our voice. This proposed move is endorsed by the Councils of both organisations and based on months of productive discussions and on a strong financial case.”
Mark Gargan, president of CPA Ireland, which has almost 5,000 members and students, added: “Both ourselves and Chartered Accountants Ireland are regulated by IAASA to meet the highest educational and professional standards.
“Amalgamation would bring together the best parts of our two organisations, pooling the resources and highly talented staff to benefit all members and creating a single qualification with dual designation for the benefit of our members at home and abroad.
“Our combined voice would amplify the needs of our profession and our strong commitment to the public interest and future economic growth.”
In advance of voting, the leadership teams of Chartered Accountants Ireland and CPA Ireland will be engaging closely with members across the island of Ireland to discuss the proposed amalgamation, the legal process, the benefits for members, and the reasons to support this move for the profession in Ireland today.
