Member Since: 6th Jan 2011
19th Dec 2014
So it seems that around 1,000 members from the IFA voted and 96% of those voted in favour of the takeover by the IPA. Out of 9,000 members, only the associates and fellows were allowed to vote which would take the electorate to about 5,000 so 1/5 voted - not a good turnout. And 96% could be likened to voting systems in communist states :)
So to get facts straight; 20th largest body in IFAC means nothing when there are 19 bigger ones in front of you. Largest focussed SME accountancy body? Not true. AAT, AIA, ACCA, ICAEW to name but a few are all SME focussed as 99.3% of business in the UK are SME (source: FSB) - it is just the IFA who have jumped on the marketing wagon with that claim. Greater efficiency? Yes, they are outsourcing their back office and member system to Australia - how does that affect data protection rights of the member?
So there you have; another takeover successfully completed by senior management at the IFA (hopefully it will not go the same way as the previous one) and I, along with a number of fellow members, have resigned from the IFA.
Good luck to all those that remain but I really do not think the IFA will last more than another 2-3 years!
5th Nov 2014
There was other options put forward to Council - and bear in mind that these were options "PUT FORWARD" by the CEO. So from the options PUT FORWARD, Council selected what they believed to be the best option.
I, however, believe that other options exist that have not been appraised because the direction the IFA is being steered in is and has been orchestrated for some time.
20th Oct 2014
Just for balance
Yes, I have been very vocal in the "no" camp and have had to resort to social media, my own blog on my business web site and particularly using LinkedIn. Why?
When I requested the opportunity of putting my opinion forward in the Special Edition of Financial Accountant Magazine (the magazine for IFA members) I was ignored. Where else can I make my point of view be heard?
And please, the promise of a Royal Charter?
20th Oct 2014
At this stage, I have not decided what to do about my membership. I shall certainly let my FTA membership lapse as I see no benefit to having this and I suspect it will eventually die if this takeover succeeds.
As for IFA membership, will see what the vote brings and decide then. At the moment, it is only my position as a Branch Chair that I resigned due to wanting to distance myself from the management team at the IFA.
19th Oct 2014
There are many members who oppose this takeover for a variety of reasons. I have posted mine on my business blog page here http://www.andersonaccountancy.pro/blog/ipa-takeover-amalgamate-ifa/ but have also posted it on AccountingWeb as a blog post here https://www.accountingweb.co.uk/blog/ipa-takeover-or-amalgamate-ifa
For those who are interested but are not members and therefore are not in receipt of the letter from the IFA to its members, I will scan and post my letter for all to read.
Would be interested in hearing other peoples opinions.