Dear Member,
On the subject of our current discussions with ACCA, we intend to maintain a high degree of transparency with our Members. Over the last few days, we have received enquiries from members regarding a members' circular issued by the ACCA dated 21 October on current status of discussions with the Institute. It is my duty as Chief Executive of the Institute to respond to these enquiries and to avoid any miscommunications. In so far as I am able to disclose, I write to confirm that the Institute has proposed in a letter to ACCA on 18 October a revised package of transitional arrangements for students affected by the termination of the Mutual Recognition Agreement. I am unable to disclose these details yet as we have undertaken to allow ACCA time to consider these proposals. The two bodies have agreed to postpone the deadline to announce these arrangements from 21 October to 27 October 2004.
After we agreed to move the deadline, the Institute issued a brief media update on 20 October, which we attach for your reference. This media update was necessary as press interest was heightening as we approached the original 30 day deadline. The update seeks to avoid any misleading or speculative reports.
Please rest assured that we shall keep members well informed, with full details of any agreed proposals in due course.
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