ANOTHER rift in the accountancy profession has come to light with the calling of an extraordinary meeting of the Association of Chartered Certified Accountants.

 The requisition by 114 members wants an independent  review of the body's corporate governance, including elections, and the function of the chief executive and other officers. They are concerned that the concentration of power in the chief executive's hands is "more appropriate to a commercial organisation than a professional body". That concentration is made all the stronger because "the council now rubber stamps decisions formulated by the
executive".

The council reacted firmly, saying its structures are appropriate to a modern professional body and it "will not go back to the old ways". Its procedures "are entirely in line with the best principles of good governance and with the practice of other major professional bodies".

The row follows hard on the heels of the big five firm of  Ernst & Young abandoning the training scheme of the English Institute of Chartered Accountants and opting instead for the Scottish body.