It seems that the backdoor route to membership of the ICAEW, via one exam for members of other bodies, has been exposed as the sham it is; namely a quick and dirty way of increasing the membership of the ICAEW by diluting the quality.
The Telegraph reported yesterday that the Financial Reporting Council (FRC) has been asked to intervene by CIMA, and investigate the backdoor entry system devised by Eric Anstee following the merger failure last year.
It seems that not only is the ICAEW intent on diluting the brand, and offering a backdoor qualification, they are also reportedly overstepping the bounds of ethics in respect of cold marketing the ICAEW to members of other bodies.
Another example of the ICAEW not practising what it preaches when it comes to ethics.
Maybe Council and the executive should take some time out to read the ethical guidelines of the ICAEW?
Charles Tilley, the chief executive of the Chartered Institute of Management Accountants (Cima), is quoted in the Telegraph as saying:
"Both qualifications are high-quality but the Cima qualification is founded in business and the ICAEW one is founded in practice. Offering the qualification this way is not in the public interest.
The approach they are adopting, I question how professional that is.
I am aware of at least three of my members who have been cold-called on behalf of the ICAEW."
I wonder how much more damage the Executive of the ICAEW will do to the brand value of our professional body and qualification, before the membership finally reacts and kicks them out?