Monday, August 19, 2013 / Proshare NI
The Institute of Chartered Accountants of Nigeria, desirous of raising funds ahead of its annual conference and to mobilise members have sent out ‘demand notices’ for members, associate and fellows to meet their commitments to the institute.
In a copy of the ‘reminders’ sent out, a copy of which was obtained by Proshare, the Institute “is in the process of suspending members owing two (2) years subscription and other fees” from its members roll.
This approach will appear consistent with the reality being faced by professional associations and institutes who may have to come to terms with a changing/dynamic marketplace where professionals have more than one affiliations and are therefore reluctant to pay for memberships where value judgments come into play.
The trend is also global and in other climes, annual subscriptions have been suspended or replaced by continued development programmes paid for by members.
Other approaches employed is to work with other associations, institutes and regulators to ensure that certification and approval of members is not done without a clear review / validation with the relevant entities.
Professionals spoken to however believe that be that as it may, and pending when these developments are addressed, members of institutes affected should need not wait for reminders to comply with a professional requirement.