The Consultative Committee of Accountancy Bodies (known as CCAB) was formed in 1974 as an umbrella group for the major British qualified accountancy bodies. The six British and Irish professional accountancy bodies with a royal charter were the founder members of the CCAB. On 2 March 2011, the Chartered Institute of Management Accountants (CIMA) announced that it would be leaving CCAB, because CCAB had become more focussed on audit since the formation of the Financial Reporting Council as the regulator for accounting matters, and therefore less relevant to CIMA members.