IPA and IFA unite to form the world's largest SME/SMP accounting group

The Institute of Public Accountants (IPA) and the Institute of Financial Accountants (IFA) in the United Kingdom have come together to form the IPA Group; the world’s largest SME/SMP professional accountancy group.

The amalgamation has occurred following extensive consideration by both the IPA Board and the IFA Council.

The new IPA Group will have in excess of 35,000 members and students across more than 80 countries. This will provide extensive benefits to the more than 26,000 IPA members and students and the more than 9,000 IFA members and students.

The new IPA Group will be based on the principle of one group, two Institutes, and three key benefits. The autonomy and brands of each Institute will be preserved and provide the foundation of a stronger, more powerful voice for its members and the sector globally.

The three key benefits will result in:

• More efficiency,

• More effectiveness, and

• More member value.

Importantly the IFA will benefit from building on its investment over recent years which have prepared it for this exciting next phase of development. This will deliver enhanced member support through cutting edge ICT infrastructure capitalizing on extensive IPA investment in its platforms.

 “The IPA members will benefit from greater global reach and influence and an expanded membership pathway,” said IPA President and Chairman, Jason Parker.

“We are extremely excited that the IPA and IFA consolidation has culminated in such a managed and structured transition driving member value and achieving substantial efficiencies. The advancement of member recognition goes hand in hand with the development of professionalism. We see this amalgamation as a key platform to assist in the enhancement of the profession and therefore the public interest.

“To be forming the largest SME/SMP accountancy group in the world provides a strong, professional voice in a changing global environment,” said Mr Parker.

“We acknowledge that we need to achieve stepped growth in our membership and operating model to provide a leading SME/SMP voice. To help us achieve this long-held strategic goal, we need to join forces with a credible, like-minded, dynamic accountancy body that shares our vision to lead the profession and have a lasting impact on the professional careers of our members of today and more importantly tomorrow,” said Catherine Chamberlain, Chairman of the IFA Council.