Frequently asked questions on harmonising ICAS membership fees
What is changing?
A Special General Meeting held on 24 April, 2015, agreed that membership fees should be harmonised so that full members pay the same wherever they live and work in the world.
What was the outcome of the vote?
1759 members voted in favour. 452 against and 49 abstained.
What is the current situation?
The current situation is that members in the UK and Europe paid the full rate (£438 in 2015), while members based overseas outside Europe paid a reduced rate (£255 in 2015).
When will the increase take place?
The increase for overseas members will be phased in over three years. It will begin to increase in 2016 with the differential in rates reducing by one third each year until overseas members are paying the same as other full members by 1 January, 2019.
How is this justified?
We are aiming to create a truly global Institute where members benefit from the same value of the CA qualification and benefit from the same knowledge, networks and influence wherever they live and work in the world.
What do overseas members get now for their membership?
There is a universal benefit of the CA qualification wherever members are in the world in terms of the reputation that goes with it and its power as an international career passport.
Over the past three years we have built up more than 20 international communities where members can access networks and events. Through our membership of the Global Accounting Alliance, members of ICAS can access the benefit of our partner institutes in many countries around the world.
We have just launched www.icas.com which aims to allow members to access our knowledge and networks on mobile channels anywhere in the world. We are increasingly using video to allow members to view our events and presentations wherever they are in the world.
Our recent Admissions Ceremony was viewed in 31 countries. Overseas members increasingly benefit from the influencing work we do with other international accounting bodies such as IFAC and Chartered Accountants Worldwide.
What will overseas members get in the future for their membership?
Our intention is to change our strategy from building a professional community to building a GLOBAL professional community.
The ambition is to serve members with the same value and benefits wherever they are in the world. We are investing in delivering a "Virtual ICAS", which uses digital to connect our members with the knowledge and networks of ICAS.
We are partnering with other accountancy bodies around the world to ensure that we have relevant content for members in the different regions of the world. Alongside this we are bringing forward proposals to increase international representation on the ICAS Council and elsewhere in the governance structure of the institute.
Our aim is to:
- Further strengthen our global communities.
- To increase webinars and video content for overseas members.
- To put in place effective continuous professional development for members overseas.
- To grow our partnerships overseas for the benefit of members.
- To increase the impact of our influencing on global accounting matters.
Does this mean I will have to pay two full subscription fees as I am also a member of the accounting institute in the country where I now work?
You may be able to access the benefits of an institute in the country where you work without paying another sub through our membership of the Global Accounting Alliance. We intend to publicise this benefit more widely in the future.
However, if you need to be a member of an institute in the country where you work for statutory reasons, such as being able to sign off accounts, you will now have to pay two full memberships.
This puts you in a similar situation as ICAS members in the EU and also members of other institutes, such as ICAEW, who have already harmonised fees for overseas members.
What can members do if they object to the current proposals?
The Executive of ICAS is very keen to engage with our members over this change and our plans for the future. The Chief Executive and members of the Executive team would welcome the opportunity to talk with any member or members who want to discuss this further.