Accountancy Age report that ACCA has 73,839 students in the UK and Ireland, CIMA has 57,106, while the ICAEW has 8,560.
The article also notes that the growth of ACCA and CIMA is outstripping that of the ICAEW.
Whilst it is true to say that size of itself is not an indication of quality, the ICAEW should be concerned that the number of people wishing to join the ICAEW is, on the face of these statistics, declining.
Yet, last year, the ICAEW wasted time and money chasing the false solution of a merger with lesser bodies.
The ICAEW needs to identify and address the "internal" issues that are putting potential new members from joining, and not waste its time and members' money on further merger votes.
Issues that need to be addressed include:
-The exam syllabus
-Ethics in the profession
-The size and structure of Council
-Value for money in respect of subscriptions
-Working more closely with CCAB
-Improving relations with ICAS