Professional chartered accountancy bodies, ICAEW and CIPFA, have announced that they are in talks to explore the potential of closer working.

The vision driving the discussions would see ICAEW and CIPFA combining their strengths and resources to better equip them to serve the public interest across all areas of economic activity, including the enterprise, public and third sectors.

In a joint statement, the ICAEW’s Chief Executive Michael Izza and CIPFA’s chief executive Rob Whiteman said:

“We believe there is significant strategic benefit in our two bodies working more closely in the future and our discussions will examine ways of achieving that.”

ICAEW and CIPFA will now conduct further discussions with the aim of bringing forward proposals in 2022.

Any outcome to these discussions will be subject to approval within the Institutes, as appropriate and necessary under their respective governance requirements, and by key external stakeholders including the UK Government, the Privy Council and other regulators.