Inland Revenue Seal of Approval

The ICAEW website reports the following:

"A number of students at the Inland Revenue and Customs and Excise are to begin training for the ACA qualification. The students were impressed with the range of careers available to ACAs in both the private and public sector, once they had qualified."

David Swift, Head of the Accountancy Profession at the Inland Revenue, is quoted as saying:

"I believe that this reflects the consistently high regard in which the ICAEW qualification is held amongst graduates.."

Given this vote of confidence by the Inland Revenue in the ACA qualification, I must ask again, why dilute the brand by merging?