The Institute of Public Accountants (IPA) and the United Kingdom-based Institute of Financial Accountants (IFA) have amalgamated their operations to become the IPA Group.
The move has created the largest small to medium enterprise (SME) and small to medium practice (SMP) professional accounting body in the world, with over 35,000 members and students across more than 80 countries.
The IPA Group will operate based on the principle of one group and two institutes that will provide members with great value, effectiveness and efficiency.
“The IPA members will benefit from greater global reach and influence and an expanded membership pathway,” IPA president and chairman Jason Parker said.
“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.”
IFA chair Catherine Chamberlain said the UK-based professional association had been aiming to increase its membership and have a stronger presence in the global accounting sector.
“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,” Chamberlain said.
