In September 2023, ICAEW and CIPFA signed a joint declaration to work more closely with each other to benefit their members and the broader accountancy community.

The most significant development in the partnership came earlier this year, with the creation of new fast-track options enabling ICAEW and CIPFA accountants to gain dual membership.

The move acknowledges the quality of the CPFA and ACA qualifications and enables accountants across the private and public sectors to access the resources provided by both membership bodies.

ICAEW Chief Executive Alan Vallance and CIPFA Chief Executive Owen Mapley have both become dual members. Vallance said: “I’m very proud to have become a dual member to underscore our strategic alignment.”

He continued: “In the year since CIPFA and ICAEW signed our joint declaration it’s clear to see how we are working together more closely than ever before, delivering benefits for the members of both institutes.”

Further developments have included ICAEW’s Professional Standards Department taking over the management of CIPFA’s disciplinary scheme, joint statements on the government’s approach to the local audit backlog and CIFPA’s London-based staff moving to Chartered Accountants’ Hall.

“CIPFA’s co-location with ICAEW colleagues has already increased the collaboration, innovation and relationships between many of our teams and we are building on this to improve our offer for all members and the communities we serve,” confirmed Mapley.

“This year has seen significant progress in developing the strategic relationship between our two institutes. I look forward to the future as we continue to create new opportunities to strengthen our mutual voice and influence as leading chartered accountancy bodies in the public and private sectors.”