IPA and IFA form the world's largest SME/SMP accounting group
17 December 2014
The Institute of Public Accountants (IPA) amalgamation with the Institute of Financial Accountants (IFA) in the United Kingdom has been formally approved by IFA members in London today. This is the final step in the process of forming the largest dedicated small-medium enterprise and small-medium practice professional accounting group in the world.
The amalgamation was resoundingly supported by IFA members and results in the establishment of the IPA Group; the world’s largest SME/SMP professional accountancy group.
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 student.
The IPA Group will be based on the principle of one member, 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: • Greater efficiency, • Greater effectiveness, and • Greater 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.
“IPA members will benefit from greater global reach and influence and an expanded membership pathway,” said IPA chief executive officer, Andrew Conway.
“The IPA Group will kick-start formal operations on 1 January 2015 and we will get to work quickly to drive operational efficiencies which will underpin enhanced value to the IFA members.
“To be forming the largest SME/SMP accountancy group in the world provides a strong, professional voice in a changing global environment,” said Mr Conway.