In October 2010 the ICAEW and the Institute of Chartered Accountants of Sri Lanka (ICASL) signed an MoU designed to establish closer working relationships.
I noted the following at the time:
"Global ambitions are all well and good. However, care needs to be paid by the ICAEW to ensure:
1 That any inter institute membership, if it occurs, will be structured in such a way as to ensure that the brand value of the ICAEW qualification will not be diluted.
2 That, given the recession and high cost of subscriptions, UK members' subscriptions are not frittered away on global ambitions that have little relevance to the UK membership."
I see that according to the Daily Mirror in Sri Lanka:
"Justin West, ICAEW’s Head of New Business Opportunities declared that the two institutes were looking at going beyond exchanging membership and was seriously focusing how the two institutes can share talent, ideas and technical expertise which will help take the profession forward.
In a detailed presentation, West who articulated the international recognition possessed by ICAEW and thereby the benefits that members can enjoy with an ICAEW membership, disclosed that within the next six months, both Institutes will make an announcement on the tangible benefits that its members can enjoy which would help in the further development of their professional goals."
I also note that ICAEW has extended the fee waiver, valued at £900, offered to all ICASL members until September 2011 who wish to join ICAEW.
Are ICASL and ICAEW about to merge?
My comments made in October 2010 stand.