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Grift failure

When it came to the suggestion that the ICAEW should fund improved undergraduate education, the reply took a little longer to be delivered. I co-authored an application for millions of funding, which would have been transformational. In response, we were told that if we asked for a few tens of thousands, that might (with the emphasis on might) be agreed to, but there was no chance of anything more forthcoming.

Tsk.

The sense is that the ICAEW thinks that this money must be used to serve the profession and those 200,000 plus members of the ICAEW who already enjoy average incomes of multiples of the median wage, with the public interest being what is deemed to coincide with their needs.

The suggestion that this £148 million might be used to improve training is quite absurd: that is the routine business of the ICAEW and its membership, which those members are more than able to pay for, and which, in any event, the ICAEW undertook when its reserves were £20 million in 2012. It does not need the reserves of £160 million it had in 2022 to do the same routine, day-to-day job that it did in 2012. To claim that it does is simply absurd and in the literal sense, incredible because what is implicit in the suggestion is the idea that the ICAEW cannot afford to train its members unless some of them fail badly enough to be fined for doing so at significant cost to the public. As business models for a professional body go, that is an utterly unacceptable one.

I am left with a sense that the ICAEW is where the whole UK establishment is.

Unwilling to fund the Spud apparently. Tsk.

10 thoughts on “Grift failure”

  1. Dodgy “accountant” thinks that real accountants should just hand over all their investments for him to spaff around to his mates as he chooses.

    “When it came to the suggestion that the ICAEW should fund improved undergraduate education…” It wasn’t improving undergraduate education that he had in mind, but his own and his friends’.

    “The suggestion that this £148 million might be used to improve training is quite absurd”: Not absurd at all as improving the standard of their members skills is among the fundamental functions of a professional institution. One particular member could certainly do with so specialist remedial training.

  2. Dodgy “accountant” thinks that real accountants should just hand over all their investments for him to spaff around to his mates as he chooses.

    “When it came to the suggestion that the ICAEW should fund improved undergraduate education…” It wasn’t improving undergraduate education that he had in mind, but his own bank balance and his friends’.

    “The suggestion that this £148 million might be used to improve training is quite absurd”: Not absurd at all as improving the standard of their members skills is among the fundamental functions of a professional institution. One particular member could certainly do with so specialist remedial training.

  3. An accountant who thinks that average incomes and median wages are comparable, let alone the same thing,
    is unquestionably in need of improved training. Whether £148million of that would be enough to convert Murphy into a useful, let alone intelligent, accountant or academic is, however, open to question.

  4. I’m wondering if his new venture Accounting Streams to provide better education in accountancy has just had rejections from its first tranche of grant applications.
    This charity appears to intend to input the teaching of sustainability, ethics, quality, critical thinking, and stake-holder concerns into accountancy courses.

  5. Dennis, Noted Mental Health Amateur

    The fact that Murphy thought a professional body (or anyone else, for that matter) would hand him £148 million simply confirms that his mental health is deteriorating. This is a grandiose delusion of the first order.

  6. I can’t really add to Dennis point!

    You’ve got qualifications that appear to have been got by questionable means. You evince absolutely no understanding of concepts like ‘Depreciation’, or as said already, other than on the ‘Deleted Files’ Folder of your hard drive ‘Double Entry’ and yet you see fit how to tell the governing body of said institution what they should do with their money?

    What I would say is this level of purblind stubbornness and overweaning self-regard leads me to conclude he definitely was banned from the hostelries in Downham Market. I’d have kicked him out were I a landlord.

  7. «200,000 plus members of the ICAEW who already enjoy average incomes of multiples of the median wage»

    Can anybody guess the identity of the 200,001st?

  8. ‘200,000 plus members of the ICAEW who already enjoy average incomes of multiples of the median wage’

    Median wage is £28k. Murphy is on about £80k from various grants, his ‘professorship’, and begging for money on his blog. But he wants millions!

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