ICAS have announced today that they have closed a scheme which offered CIPFA members fast-track membership of ICAS. Around one in six CIPFA candidates who began the scheme completed it and became members.
The focus in the ICAS syllabus on International Financial Reporting Standards has meant that CIPFA candidates, many of whom have not covered IFRS, can no longer be given the exemptions that made accelerated entry to the Institute possible.
Chief Executive Desmond Hudson said:
"When the course was first offered to CIPFA members, the accountancy landscape was very different. However, the educational content of today's CA qualification has changed dramatically. Unfortunately for CIPFA, it means it is no longer sustainable for their members to benefit from this fast-track entry to ICAS."
Executive Director of Education at ICAS, Mark Allison added,
"We will shortly be contacting our remaining CIPFA students to confirm the transitional arrangements which will allow them to complete their studies".
ICAEW should take note of this.