Inside ICAS: February 2022’s top talking points
From a focus on the topic of trust to a way for Members to contribute their insights and expertise to the ICAS strategy, your Office Bearer team review their top talking points from February.
President Bruce Pritchard CA, Deputy President Indy Hothi CA, and Vice President Clive Bellingham CA highlight some of the key ICAS initiatives and activities they were talking about during February.
Bruce’s top talking point
…it’s a credit to the skill and integrity of the CA community that we are currently recording such high levels of trust.
Bruce Pritchard CA, ICAS President
"If you’ve read your February copy of CA magazine you might have seen my column considering how trust in accountancy can be strengthened. You’ll also have noted that I purposely positioned the topic as ‘strengthening’ trust and not ‘rebuilding’ trust. Recent research from Chartered Accountants Worldwide and Edelman shows that trust in the profession is growing and CAs are seen as credible voices, so I was conscious of talking positively about the topic. As I say in the column, it’s a credit to the skill and integrity of the CA community that we are currently recording such high levels of trust. But, that said, from considering areas such as regulation, communication and education, there’s more we can do to improve and it’s important that we all make a conscious effort to continue the good work and avoid resting on our laurels.
On Monday 28 February I’ll be joining a webinar hosted by the University of Glasgow Adam Smith Business School. Along with James Barbour CA, ICAS Director, Policy Leadership, I’ll discuss the ways in which our profession can build on its good standing and how individual CAs can continue to be a force for good in business."
You can find out more and register for the event here.
Indy’s top talking point
It should play an important part in strengthening trust in an already well-trusted profession.
Indy Hothi CA, ICAS Deputy President
“Staying on Bruce’s topic of trust, at the beginning of February ICAS launched its new Ethics Buddy Service. The service is part of ICAS’ commitment to provide resources that help Members meet their ethical responsibilities and it should play an important part in that process Bruce outlined above, of strengthening trust in an already well-trusted profession. CAs facing an ethical dilemma can talk through and consider various approaches, using the dialogue to help find the best way forward and resolve the situation. Engagement with the service could be a single phone call or a series of conversations. The buddies are all experienced ICAS Members, and the service is confidential and informal. I’m told that one Member has already used the service and welcomed the opportunity to discuss their particular situation."
Clive’s top talking point
…it’s a hugely rewarding experience, a great way to get involved with ICAS, to give something back and help safeguard the future of the profession.
Clive Bellingham CA, ICAS Vice President
“Earlier this month the window opened in which Members can nominate themselves for positions on ICAS Council. If you don’t already know, Council is the body that oversees the effective management of ICAS and helps to determine and deliver its strategy. Council is led by me, Bruce and Indy, and consists of a mix of elected and co-opted CA members and non-CA (Public Interest) members. We normally meet four times a year, with a range of objectives, from ensuring the objects of the Royal Charters are achieved to determining strategies and tactics. Taking a place on Council is a hugely rewarding experience, a great way to get involved with ICAS, to give something back and help safeguard the future of the profession.
For 2022 there are ten vacancies open for your nominations, six over the various Electoral Areas and four for the Open seats, and I’d encourage all Members to find out more and consider getting involved. You have until 14 March to submit a nomination."
What else has got us talking
Consultation responses: ICAS has responded to the European Commission’s consultation on improving the quality and enforcement of corporate reporting. The consultation is the first stage of the EU process, as it considers what reforms are required to the corporate reporting ecosystem for public interest entities.
UK Cabinet Office Briefing: ICAS participated in the post-COP26 business briefing from the UK Cabinet Office to explore how we can support the delivery of outcomes from COP26 during the UK's COP Presidency.
HMRC engagement: As ever, February was a busy month for ICAS in terms of engagement with HMRC. There was a roundtable meeting on crypto assets, an ITSA-registration workshop and meetings as part of the Representative Body Steering Group, the Compliance Forum, the IR35 Forum, the Issues Overview Group (which covers systemic issues in HMRC processes), the Expatriate Tax Forum and the Charter Stakeholder Group. And talking of the Charter, ICAS will be giving input to the Charter Stakeholder group on how HMRC has performed against its Charter standards over the past year – and they want feedback on your experiences.
That’s all for this month’s round-up. Join us again in a few weeks to find out what else has got us talking.