The Independent confirm's that Graham Durgan will be stepping aside as President of the ICAEW, as noted here yesterday.
The article notes that the ICAEW maintain that Durgan's interest in EWI, the training company awarded the Chinese and Russian contracts, were openly declared throughout the tender process.
However, what the ICAEW failed to do was hold an open tendering process allowing all companies to apply for the contracts.
That is why they are in this mess. Unfortunately, the ICAEW don't see it this way and are blaming the press for this.
Looks like many members are leaving the ICAEW. 800 so far this year.
ReplyDeletewww.financialdirector.co.uk/
accountancyage/news/2157336/
icaew-resignations-top-800
PS Keep up the excellent work MAC members.
I recall at the time of the merger vote that many MAC members claimed that CIPFA members were incompetant and not equal to Chartered Accountants. They wanted to merge with the ICAS, since they were "their equal".
ReplyDeleteObviously the ICAS does not share this view as it has appointed a CIPFA qualified as their FD.
http://www.accountancyage.com/
accountancyage/news/
2156735/icas-appoints-fd