Latest news with #OwenMapley
Yahoo
01-08-2025
- Business
- Yahoo
ICAEW and CIPFA sign agreement to explore merger
The Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Institute of Public Finance and Accountancy (CIPFA) have signed a heads of terms agreement. The agreement outlines the strategic direction for a potential merger, aiming to strengthen the accountancy profession and better serve the public interest. Under the proposed terms, CIPFA would join the ICAEW group while maintaining its distinct brand, legal identity, charitable status, and operational independence. The move follows a 2023 joint declaration by both organisations to pursue closer strategic alignment. The agreement initiates a process to explore and develop a formal proposal. If implemented, it would be subject to governance and approval processes of both organisations, a vote by CIPFA members, and any necessary regulatory approvals. Founded in 1880, ICAEW represents over 208,000 members and students globally. It is a founding member of Chartered Accountants Worldwide, connecting more than 1.8 million chartered accountants and students in more than 190 countries. CIPFA, a UK-based professional body for public finance professionals, is also a registered charity. This potential merger marks a significant step in aligning the strategic goals of these two influential bodies. ICAEW chief executive Alan Vallance said: 'This marks the next step in a long-standing and ever-deepening relationship between ICAEW and CIPFA. Since joining ICAEW, I have been focused on strengthening that relationship and I'm pleased we have now reached this agreement. 'I am certain that it will bring with it greater opportunities to respond to the evolving needs of our members, the profession, business and society, and to strengthen the impact and trust of the accountancy profession in the UK and around the world.' CIPFA chief executive Owen Mapley said: 'We have made real strides in working more closely over the last two years, driven by shared values and a common purpose. The signing of the heads of terms marks the next step in our strategic journey together. 'We believe this closer alignment will strengthen our collective voice, improve member services and enhance our resilience and relevance in the UK and internationally.' Earlier in July 2025, ICAEW and ICAS raised concerns about the UK Government's decision to delay the audit reform and corporate governance bill. "ICAEW and CIPFA sign agreement to explore merger " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
UK Spending Review 2025 delivers 'mixed bag'
Owen Mapley, CEO of the Chartered Institute of Public Finance and Accountancy (CIPFA), has called the Spending Review 2025 a 'mixed bag'. 'Much to welcome, but long-term sustainability remains unresolved for many public services,' Mapley said in response to the UK government's Spending Review announced on 11 June 2025. Mapley noted that while additional funding for the NHS and defence was confirmed, many unprotected areas received little relief. 'For frontline services, significant pressures and concerns around long-term stability are likely to endure,' he said. Local government was highlighted as a sector set to benefit from a longer-term funding settlement. However, Mapley expressed reservations, stating: 'Serious concerns remain about the sector's overall sustainability.' He said that key challenges including funding gap for social care remain unaddressed. On the NHS, Mapley acknowledged the positive impact of increased investment but cautioned that 'the demands on these resources will be immense.' He emphasised that delivering transformation through technology and modernisation would be crucial for the NHS to achieve sustainability and support the forthcoming ten-year health plan. Mapley concluded by noting the complexity of the review, saying, 'Crunching the Spending Review numbers, and considering the multiple documents released alongside the review, may reveal a clearer picture. CIPFA looks forward to considering the details over the coming days and weeks.' Chancellor Rachel Reeves announced an additional £29bn per year for the NHS in England, alongside increased funding for defence and housing, as part of the government's spending plans extending to the end of the decade. Reeves also pledged further investment in artificial intelligence and transport projects. However, the review brought tighter budgets for some departments, with the Foreign Office and environment department facing constraints on day-to-day spending. "UK Spending Review 2025 delivers 'mixed bag'" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
