Yesterday I asked:
"Does this ruling apply to ICAEW students?"By all accounts the ICAEW is also wondering this.
PQ Magazine reports that three UK-based accountancy bodies are seeking clarification from ICAP as to exactly what is going on.
The ACCA is looking for a formal meeting the ICAEW "is seeking clarification from ICAP as to what the implications are for ICAEW students", whilst CIMA said "we are fully aware of the situation and remain in regular discussions with ICAP."
It is unclear what ICAP's response, if any, has been.
It is possible that ICAP have realised that their decision may have been taken in haste, and that they now don't know how to respond.