The announcement of real merger talks between CIPFA and ICAEW has been coming. CIPFA has been living in sin with ICAEW at Moorgate Place for quite a while now, so tongues were already wagging.
PQ magazine decided to ask ChatGPT about past mergers and we were shocked to read about the last attempt in 2005. We were initially told that CIPFA members rejected the merger idea outright and the AI explained at the time CIPFA members argued their unique focus on the public sector would be lost in a larger corporate-dominated body. Another fear was as a junior partner CIPFA would not be setting the real agenda and culture.
That meant ICAEW members never got to even vote for the merger.
That all sounded plausible, but it just wasnât correct!
We had to tell ChatGPT to read the PQ magazine stories at the time!
The truth is CIPFA members were overwhelmingly supportive of the merger, and they voted 86.7% in favour.
However, ICAEW members voted 65.7% for the merger, but the threshold for moving forward was 66.7%, so the merger failed by just one percentage point.
Both bodies signed a memorandum of understanding, but as we explained at the time this just fizzled out and did not result in any formal merger.
Now, here we have a prime example of how ChatGPT can get it wrong. We have corrected it, so anyone reading about the failed 2005 merger will know what actually happened, rather than read an âhallucinationâ!
But ChatGPT isnât wrong all the time. We asked it about magazines for accountancy students and it said: âPQ magazine is a standout resource for accountancy students and part qualified professionals. It is widely regarded as the most accessible and practical magazine tailored to exam preparation and student life.â Spot on ChatGPT we say!
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