The one minute expert

Your essential companion to this week's big events

Full name?

The Institute of Chartered Accountants in England & Wales

In the news because?

Fireworks are expected at its annual general meeting on Tuesday.

Yawn.

Accountants? Fireworks?

Dissidents are demanding that the executive be elected directly, instead of by the ICA's council. They're called the Ginger Group and are led by Jeff Wooller, who runs an accountancy college.

Ginger as in reddish-brown?

As in lively, sprightly, invigorated - the opposite of staid and boring.

So what's their gripe?

Dr Wooller says the rebels became organised last year when the ICA merged with the Chartered Institute of Management Accountants. After losing that battle they decided to keep on fighting for democratic reforms.

I thought accountants liked mergers?

They love other people's mergers - lots of fat adviser's fees. But some of them have been so indoctrinated in the idea that one kind of accountant is better than another that they can't stomach the idea of sharing an institution with them. It's the sort of emotional issue that causes hearts to pound within the industry.

Will they win this time?

Not a chance. The ICA is holding two meetings on Tuesday. To vote at the first one, the annual general meeting, members have either to attend in person, or request a proxy form, fill it out, and send it back in. Much too complicated.

What happens at the second meeting?

It's a special general meeting to decide on contentious issues such as their professional fees. Members were sent proxy forms automatically, so all they have to do is tick yes or no boxes and mail them in. Much simpler. The Ginger Group's resolution is on the agenda for the first meeting.

The fireworks will fizzle then? Maybe not. Even if they lose on the election issue, the dissidents could win on the fees issue. They're calling for their supporters to turn down the 3.5 per cent increase proposed by the executive.

Will the ICA grind to a halt?

No but it would certainly make the executive ginger.

As in lively, etc?

As in sore, sensitive. It's not the subject to raise with them at dinner parties.

Is this only happening at the ICA?

The certified accountants are facing a similar fight. Their organisation, ACCA, recently fought off an attempt by reformers to get on the board, prompting charges by the defeated slate that the executive's use of proxies was unfair.

So, will this be the end of the story?

Not likely. Dr Wooller is talking about getting on the agenda for next year's special meeting, where he thinks he can use proxies to his advantage. The problem there is that he will need signatures from 250 members, rather than the 10 that are needed to put a motion before the AGM.

TOMORROW

Statistics: May provisional M0 money supply.

Interims: Stakis, Vitrex.

Finals: Azlan Group, Hambro Insurance Services, Independent Parts Group, South Staffs Water.

TUESDAY

Statistics: May official reserves.

Interims: Crabtree Group, MEPC, SEP Industrial Holdings.

Finals: Capitol Group, De La Rue, Emap, National Grid, Thames Water, Vodafone Group.

WEDNESDAY

Interims: Everards Brewery, United Drug.

Finals: Powerscreen International, Racal Electronics, Shanks & McEwan, Yorkshire Water.

THURSDAY

Interims: Greencore, Lookers.

Finals: Boots & Co, Chubb Security, Northern Ireland Electricity, Oxford Instruments, Pilkington, Siebe, 3i Group.

FRIDAY

Statistics: Q1 construction output. Finals: A Cohen.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Claims Administrator

£16000 - £18000 per annum: Recruitment Genius: A position has arisen within th...

Ashdown Group: Development Manager - Rickmansworth - £55k +15% bonus

£50000 - £63000 per annum + excellent benefits : Ashdown Group: IT Manager / D...

Recruitment Genius: Security Officer

£16500 per annum: Recruitment Genius: Applicants must hold a valid SIA Door Su...

Ashdown Group: Business Analyst - City, London

£50000 per annum: Ashdown Group: Business Analyst - Financial Services - The C...

Day In a Page

Inside the Kansas greenhouses where Monsanto is 'playing God' with the future of the planet

The future of GM

The greenhouses where Monsanto 'plays God' with the future of the planet
Britain's mild winters could be numbered: why global warming is leaving UK chillier

Britain's mild winters could be numbered

Gulf Stream is slowing down faster than ever, scientists say
Government gives £250,000 to Independent appeal

Government gives £250,000 to Independent appeal

Donation brings total raised by Homeless Veterans campaign to at least £1.25m
Oh dear, the most borrowed book at Bank of England library doesn't inspire confidence

The most borrowed book at Bank of England library? Oh dear

The book's fifth edition is used for Edexcel exams
Cowslips vs honeysuckle: The hunt for the UK’s favourite wildflower

Cowslips vs honeysuckle

It's the hunt for UK’s favourite wildflower
Child abuse scandal: Did a botched blackmail attempt by South African intelligence help Cyril Smith escape justice?

Did a botched blackmail attempt help Cyril Smith escape justice?

A fresh twist reveals the Liberal MP was targeted by the notorious South African intelligence agency Boss
Tony Blair joins a strange and exclusive club of political leaders whose careers have been blighted by the Middle East

Blair has joined a strange and exclusive club

A new tomb has just gone up in the Middle East's graveyard of US and British political reputations, says Patrick Cockburn
Election 2015: Meet the top 12 wacky candidates seeking your vote in May

Election 2015

Meet the top 12 wacky candidates seeking your vote in May
Countdown to the election: Operation Save Danny Alexander shifts into high gear as the SNP target his Commons seat

Operation Save Danny Alexander shifts into high gear

The Chief Secretary to the Treasury didn’t forget his Highland roots in the Budget. But the SNP is after his Commons seat
The US economy is under threat because of its neglected infrastructure

The US is getting frayed at the edges

Public spending on infrastructure is only half of Europe’s, and some say the nation’s very prosperity is threatened, says Rupert Cornwell
Mad Men final episodes: Museum exhibition just part of the hoopla greeting end of 1960s-set TV hit

New Yorkers raise a glass to Mad Men

A museum exhibition is just part of the hoopla greeting the final run of the 1960s-set TV hit
Land speed record: British-built hybrid rocket car aims to be the fastest on Earth

British-built hybrid rocket car aims to be the fastest on Earth

Bloodhound SSC will attempt to set a new standard in South Africa's Kalahari desert
Housebuilders go back to basics by using traditional methods and materials

Housebuilders go back to basics - throwing mud at the wall until it sticks

Traditional materials are ticking all the construction boxes: they are cheap, green – and anyone can use them
Daniel Brühl: 'When you have success abroad, you become a traitor. Envy is very German'

Daniel Brühl: 'Envy is very German'

He's got stick for his golden acting career and for his beloved restaurant - but Daniel Brühl is staying put in Berlin (where at least the grannies love him)
How Leica transformed photography for ever: Celebrating 100 years of the famous camera

Celebrating 100 years of Leica

A new book reveals how this elegant, lightweight box of tricks would transform the way we saw life on the street and in fashion, on the battlefield and across the world