ChatGPT gets it wrong about latest merger!

ChatGPT gets it wrong about latest merger!

So, what happened the last time CIPFA and ICAEW announced merger talks in 2005? Well, becareful where you look for the truth…

The announcement of 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 corporatedominated body. Another fear was, as a junior partner, CIPFA would not be setting the real agenda and culture. All that meant ICAEW members never got to even vote for the merger.

That all sounded plausible – but it just wasn’t correct!

We had to tell ChatGPT to read the PQ magazine articles on the issue. The truth is CIPFA members were overwhelmingly supportive of the merger – 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 fizzled out and did not result in any formal merger.

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, so can ignore the ‘hallucination’.

But ChatGPT isn’t wrong all the time. We asked it about magazines for accountancy students and it said: “PQ 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.” Spot on ChatGPT, we say!