Of particular signifircance is our amalgamation* with the Institute of Financial Accountants (IFA) in the United Kingdom.
The close working relationship between the IFA and the IPA commenced in 2002 and was reinvigorated by the two organisations working together in 2010, leading to the signing of a collaboration agreement in 2012. This followed the IFA gaining full membership of the International Federation of Accountants (IFAC) in 2012.
We continued with further frank discussions, which revealed clear synergies between the IFA and the IPA. It became clear that both organisations could capitalise on an amalgamation in the context of the globalisation of the profession and increasing merger activity.
On 16 September 2014, the IFA Council agreed that the IFA and the IPA should move forward together by consolidating operations and pursuing a common strategy for mutual benefit. This arrangement will form the IPA Group: the largest SME/SMP focused accountancy body in the world, with a combined membership of more than 36,000.
This is a very exciting time for the IPA and our members, and I look forward to carrying that excitement into 2015 and beyond. I am very confident we can continue to build on such synergies for all of our members here in Australia and overseas.
At a national level, having launched the first Australian Small Business White Paper in Canberra in late June, we took the White Paper on a roadshow around Australia, with local summits held in Victoria, the Northern Territory, New South Wales and Western Australia. These summits provided more valuable insights into what burdens, challenges and opportunities face small business in Australia today.
I would like to thank the many stakeholders who have contributed to the White Paper, which I am pleased to say will be presented to the government in early 2015. In closing, I would like to thank all of our members for their ongoing support and wish you all a very safe and happy festive season and a prosperous year ahead.
*At the time of this article’s publication in the December edition of Public Accountant Magazine, the IFA Council had given full endorsement. The amalgamation was formally approved by IFA members on 17 December 2014. For more information see the full press release.
