A manifest interest in the membership

Article Abstract:

A balance between public interest and members' welfare should be maintained by the Institute of Chartered Accountants in England and Wales. The Institute's overriding concern for the public interest is already drawing fears and skepticisms among constituencies. To avoid disillusionment among members, the Institute has taken measures to recognize and address their concerns, including the cash flow and profitability of the profession and the omnipresent risk of litigation. Nevertheless, a study of its Manifesto to Members proves that, indeed, members are of lesser interest to the Institute as reflected in expenditures on activities concerning members, amounting to only 210,000 pounds sterling out of the total two million budget. If the organization does not re-evaluate its orientation, members may be compelled to stop practicing and students discouraged to enter the profession.

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Professional Standards Committee: a softly softly approach

Article Abstract:

The Professional Standards Committee of the Institute of Chartered Accountants in England and Wales is involved in resolving technical issues in accounting. The group gained prominence as the professional environment required that the Institute took a more active stance on technical matters, specifically cases that are of public interest. Although the committee's work is not comprised of investigatory and disciplinary actions, it nonetheless resolves complaints of technical nature. Sources of topics of deliberation usually include direct communication, press remarks, contacts with the Stock Exchange and referrals from other committees of the Institute. Membership consists of delegates from small and large companies, usually possessing different expertise. The Professional Standards Committee continues to give recommendations to the Professional Conduct Department.

Professional organizations, Standards

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New approach to work experience

Article Abstract:

The revised guidelines of the Institute of Chartered Accountants in England and Wales on work experience took effect on Aug 1, 1992. One of the major changes in the Work Experience and Training Guidelines are the provisions on work experience requirements for membership. The new policy recommends three distinct qualification processes. Each will require 20 weeks of training in accounting, with additional auditing sessions if needed. It will also allow the inclusion of other technical aspects of work experience such as taxation, financial management, insolvency and information technology. These requirements resulted in three beneficial additions to the guideline: the integration of pre- and post-qualification processes, the recommendation of the amount of time to be allocated for each technical category and the implementation of centralized training.

Training, Occupational training

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