Financing the Institute: the three options

Article Abstract:

The Institute of Chartered Accountants in England and Wales is experiencing serious financial difficulties, reporting a deficit of 633,000 pounds sterling in 1990. Legislation, as well as increased efforts in ensuring high standards in accounting, auditing and ethics, and professional conduct have been draining the resources of the Institute. Despite the lack of funds, the Institute continues to accomplish significant tasks, including the regulation of members for audit work under the Companies Act of 1989, and the introduction, enhancement, and extension of facilities for members. A substantial increase in fees and subscription levels is seen to be necessary so that the institute can continue its work. 'Financing the Institute', a discussion document outlining three options for the financing of the Institute in the future is available from the Communications Department.

Analysis, Finance, Associations, institutions, etc., Associations, Financial management

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The future value of our qualification

Article Abstract:

Policies for maintaining the value of chartered accountants' qualification and the reputation of accounting as a profession have been set by the Council of the Institute of Chartered Accountants in England and Wales. Two complementary documents embodying such policies have been given to members of the Institute. The first document, entitled 'Manifesto to Members,' states the Institute's mission; its core goals, which are geared toward promoting public interest and helping members; specific long-term objectives; and an invitation for members of the Institute to express their views. The second document, entitled 'The Future Value of our Qualification: Financing the Institute,' outlines policies on the Institute's finances, specifically on the resources required to achieve both immediate and long-term objectives.

Standards, Column, Accountants

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