In March 2011 the IPA entered into an MOU with peak management accounting body in India, the Institute of Cost Accountants of India. In 2012, the IPA and the Institute of Financial Accountants in the United Kingdom announced that they signed and exchanged a formal Collaboration Agreement. In December 2014, The Members of the Institute of Financial Accountants voted in favour to formally merge with the IPA to operate under a new IPA Group. In April 2013 the IPA and the SMSF Professionals' Association (SPAA) reached a mutual understanding to work together in areas such as accreditation, advocacy, research and policy development, organisational efficiencies, and education.