Institute reports loss despite membership growth

The ICAEW made a £1.2m loss in a "challenging" 2012, despite growth in membership, according to the institute’s latest annual review.

The institute said that the loss (retained deficit after tax) was due to...

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Comments

Pension Funding

Ian McTernan CTA | | Permalink

Good to see the defined benefit scheme was only closed in 2010, clearly the Institute had members interests at heart in taking so long to close it that it left a deficit that will take years of a significant chunk of the Institute's income to fund.

Would be interesting to see exactly who benefits from the overly generous terms of the scheme. 

Tom 7000's picture

Its a bit sad really...

Tom 7000 | | Permalink

If the ICAEW cant balance its books...

 

Unless it planned for it as it thinks reserves are too high and let the members have lower subs to release the reserves...

ICAEW

ver1tate | | Permalink

If it would only fine its members for malpractice rather than just disbarring them, it could sort out its cash problems in a flash.