A strategic partnership has united two of the UK's accountancy bodies to develop their public sector interests. The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Institute of Chartered Accountants in England and Wales (ICAEW) announced they have signed a memorandum of understanding. Both bodies already work closely together on a number of joint initiatives. The ICAEW's public sector group utilises resources provided by CIPFA, such as technical information. The partnership between the CIPFA and ICAEW will see the institutes work together on a series of joint initiatives and projects for the benefit of their respective memberships and students. Steve Freer, CIPFA chief executive, said: ‘It builds on the strong relationships which already exist between CIPFA and ICAEW, and provides a framework for a wide variety of projects and initiatives to be undertaken jointly. I am convinced that, by shifting the emphasis from competition to trust and co-operation, we can develop a new model for the profession which increases value for members and amplifies our voice and influence.'
