T McGibney
Registered User
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I almost laughed out loud at these bits.4. The CPA have 263 audit practice firms in Ireland with the CAI having 467 audit practice firms so there will be a lot of competition among small and medium sized practice firms for audits trading as Chartered Accountants audit practice firms. There are 1,947 CAI practice firms in Ireland and there are 613 CPA practice firms in Ireland which will lead be intense competition for clients as CPA firms can trade as Chartered Accountant firms if the merger proceeds.
No redundancies, and taking on more property losses (earlier on the thread someone was praising CPA for not being as unwise and CAI in their property investments) means little to no synergies from the merger. As I remember from my lectures in Pearse street, most mergers fail as they don't achieve the required synergies.i guess there are going to some changes for staff in both institutions. But no redundancies I think they said in the tik toks etc
As I remember from my lectures in Pearse street, most mergers fail as they don't achieve the required synergies.
Looking at the CPA annual report the book value of the building at year end 2023 is -2. The CPA offices at 17 Harcourt Street, Dublin 2 may not sell for some time as there are a lot of offices in that area for sale and there will be a substantial loss on the sale and the CAI members will have to fund around €3 million of the loss as there is around €4 million of a Bank loan on the offices. The CPA have incurred losses in their most recently published financial statements. If the merger goes ahead it will cost CAI members dearly as there could be serious liabilities that they could be taking on and the staff in the CPA will have to be made redundant or employed by the CAI adding to the very large staff numbers already in the CAI.
I agree that most merger do not achieve the required synergies. I have seen it over and over again.
The majority of the members of both institutes have already endorsed the merger.I agree that most merger do not achieve the required synergies. I have seen it over and over again.
Both CPA and ACA can use both designations, as per documents I have read, once the court gives the blessing of the merger. I will not address #4, as someone here thought it was pretty funny. It was more like a gish gallop to me. The email need to be re written badly. As it is, I would laugh at it and throw it away!3.The CPA members can use both CPA and ACA and they can use both FCPA and FCA which isn’t acceptable to the CAI members as it appears that CPA/FCPA have more qualifications than the CAI members.
Voting for it doesn't mean it'll workThe majority of the members of both institutes have already endorsed the merger.
That decision has already been made.
I am very confident that it will workVoting for it doesn't mean it'll work
Given how few people voted, that’s hardly accurate.The majority of the members of both institutes have already endorsed the merger.
It is called democracy.Given how few people voted, that’s hardly accurate.
Clearly they haven't done the work if there are to be no redundancies.I am very confident that it will work
I feel a lot of work has happened behind the scenes to make a success of this.
I am actually more concerned about the changes AI is bringing to the profession and the pressure that many small to medium businesses are under.
The cost saving of a magazine, website and iassa membership would be overshadowed by the costs of merging.It is called democracy.
The members of both institutes believed this is best for both institutes.
From a financial point of view-it most certainly does.
One website, one magazine, one membership fee to iassa etc.
I was not surprised membership of both institutes backed the merger.
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