Members of Chartered Accountants Ireland and CPA Ireland have voted in favour of a proposal to amalgamate the two representative bodies.

The two Irish-based accountancy bodies say that they will now work to implement their members’ decision, which will see the creation of a single institute operating under the Chartered Accountants Ireland brand.

The proposal had been endorsed by the councils of both organisations, who believe it will better position the profession for the future.

'Vote of confidence’

In a joint statement from the presidents of both bodies, Sinead Donovan (Chartered Accountants Ireland) and Mark Gargan (CPA Ireland) said that they were pleased that members had seen the benefits of the proposal.

Donovan described the outcome as “a vote of confidence in the future”.

“Our work continues now to secure the legal and regulatory consents needed to deliver on this mandate for a stronger profession,” she stated.

Gargan said that a single institute would be more strongly positioned to represent its members, to promote the profession, and to be a positive voice representing the public interest.

“The move towards consolidation of professional membership organisations is gaining momentum globally, and Ireland will be a model for other professional bodies in this regard,” he concluded.