MBO? M&A? Venture Capital? How to chose an adviser?

What's in a name

OK this is a Caledonian rant. 

The Institute of Chartered Accountants in England and Wales (a johnny come lately organisation compared with the venerable Institute of Chartered Accountants of Scotland - of which I am a member) is merging with CIPFA. 

Not very interesting you may say.  Well ok not in itself - but as part of the merger ICAEW would like to restyle itself the Institute of Chartered Accountants.  This has caused much angst from similar bodies around the world from New Zealand to Scotland.  The long standing custom is for geographic designation.  Why should ICAEW unilaterally and inappropriately annexe the name? 

The specious reason given by ICAEW use to justify this name is that they are geographically restricted by the reference to England and Wales. Unconvincing!  Members of ICAS and ICAEW currently operate all over the world and have done for decades.  The name of the Institute does not restrict the ambitions of its members to be business leaders outside a national boundary. 

I think this can easily be resolved by a wee bit of redrafting of the English institute's name, it should follow the example of the Scots by changing one little word - ICAS members are OF Scotland, not IN Scotland.   I give this piece of advice free of charge to ICAEW and without seeking any royalties on the new name!

ICAS was founded in 1850 some 25 years before even PEM was founded and 30 years before ICAEW.  This is why Scottish Chartered Accountants are CAs with out the need for extra letters to make them ACA or FCAs.

If you should like to object to the English name change, email the Clerk to the Privy Council at [email protected]


The comments to this entry are closed.