CPA and ICAI call off merger

A PROPOSED merger between the country's two largest accountancy bodies has been cancelled for a second time in three years.

After more than a year of negotiations the Institute of Chartered Accountants in Ireland (ICAI) and the institute of Certified Public Accountants (CPA) said yesterday they could not reach terms on a merger that would be acceptable for their respective members.

The two bodies had set up a steering group to discuss the possibility of a merger in late 2002, and after long talks on the terms a deal was hammered out that was ready to be put to two organisations.