History
The CCAB was founded in 1974 by all six British and Irish professional accountancy bodies with a Royal Charter. The same six bodies are the United Kingdom professional bodies that belong to the International Federation of Accountants.
The primary objective of the CCAB is to provide a forum for the member bodies to discuss issues of common concern, and where possible, to provide a common voice for the accountancy profession when dealing with the United Kingdom government.
As of 2005, running costs were shared roughly in proportion to shares held, as follows: ICAEW 52%, ACCA 17%, CIMA 15%, CIPFA 6%, ICAS 7% and ICAI 3%.
On 2 March 2011, CIMA announced that it would be leaving CCAB. In the previous decade, CIMA had positioned itself as "a strong supporter and key member of CCAB". However, since the formation of the Financial Reporting Council as the regulator for accounting matters, CCAB had become more focussed on audit and therefore less relevant to CIMA members.
Read more about this topic: Consultative Committee Of Accountancy Bodies
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