The Community Accounting National Network (CANN) will become part of the Charity Finance Group (CFG), the two bodies have agreed.

CANN currently supports community accountancy services, which supports good financial management in the small charity sector. One of its main services is to offer a national conference for community accountants.

CANN will close and transfer its assets to the CFG, but the CFG will set up a specialist interest group with a restricted fund which will continue to provide similar support to community accountants.

The network had a turnover of £14,000 last year, and has no staff. Its current board will remain closely involved in administering the specialist interest group. CANN members have become CFG members.

John O’Brien, chair of the CANN, said that after a year of very close collaboration the network had decided it made sense to become part of the CFG.

“It’s as if we were dating, and then we moved in together,” he said. “Now we’ve decided to sell the other flat.

“We’ve been thinking this made sense for some years. In terms of objects, we’re both focused on good financial management. They are keen to have closer contact with small groups.”

Caron Bradshaw, chief executive of the CFG, said she was “really pleased” to join forces with CANN, which she said was “a vital lifeline to the not-for-profit organisations least able to afford in-house financial management”.

“We will also be examining ways we can help to further develop the reach of community accountancy across England and Wales,” she said.