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?
I can see why CIMA is upset. It thinks that once its members are ICAEW members they will quit CIMA. But surely they would only do so if they perceived the ICAEW to be the better qualification.
ReplyDeleteMy only concern is that the standard of the marking on the case studies they are asked to sit is at the same standard as that being applied to ICAEW students.
I suspect that the marking might be easier in the bid to increase ICAEW numbers.
But why should any future high flier take the ICAEW route when they can take CIMA and get in through a possibly easier backdoor?
I hope that Mr Anstee has thought through all the implications.
In the meantime I will continue to offer my services as consultant to any CIMA members wishing to take the ICAEW case study.
Every cloud has a silver lining!
To put the record straight.
ReplyDeleteMr Anstee wrote to ICAEW qualified finance directors of FTSE100 companies, asking them to recommend senior professionals who are already members of other associations but would like to join the ICAEW.
Ken - How can the above be classed as "Cold Calling".
Mr Anstee contacted his fellow ICAEW members (which he is entitled to do) and has not contacted members of other bodies at all.
Anom
ReplyDeleteQuote from Charles Tilley in the Telegraph:
"I am aware of at least three of my members who have been cold-called on behalf of the ICAEW."
Ken