Inside ICAS: Top talking points from September 2022
Your Office Bearer team review their top talking points from September, focusing on the future of the profession, transparency with environmental and sustainability issues and the ICAS Foundation.
ICAS President Indy Singh Hothi CA joins Deputy President Clive Bellingham CA and Vice President Alison Cornwell CA to highlight some of the key ICAS initiatives and activities discussed during September.
Indy’s top talking point
The trainees working in our firms are the future of the profession.
Indy Singh Hothi CA, ICAS President
“In my column in CA magazine this month, I considered the future of the profession and the skillsets needed to help get us through what lies ahead. However, there is no point in contemplating the future without thinking about our CA students and those young people who might want to join the profession. The trainees working in our firms are the future of the profession. It's vital that we nurture their talents, provide support, be their champions and welcome them into the global network.
I had the pleasure of welcoming 198 new CA Students at the recent TC induction events in Aberdeen, Edinburgh, Glasgow and at our online event. I look forward to meeting more of our CA Students at future ICAS events. Students highlighted in this year’s survey that face-to-face interaction is the most valued aspect of in-person classes, so we want to offer them more opportunities to experience that in-person interaction with the wider ICAS network. The events offer students a chance to network with peers and members and engage with ICAS on another level.”
You can read more in CA magazine.
Clive’s top talking point
The accountancy profession has a vital role to play in helping save the world from climate crisis.
Clive Bellingham CA, ICAS Deputy President
“In September, ICAS sent an open letter to the Prime Minister, addressing specific issues including the need for transparency when it comes to organisations’ carbon footprint. The accountancy profession has a vital role to play in helping to save the world from the climate crisis. By reporting with reference to an agreed set of high-quality international sustainability standards, we can provide a consistent and comparable measurement of organisations’ impact on the natural world and the tools that they need to reduce their carbon footprint.
We have recently seen the first two drafts propose international standards for businesses to report on sustainability, including climate change. That is an important first step towards corporate transparency on environmental and other sustainability issues, but not enough. These standards will only be about the impact of climate change on businesses when what we urgently need, in addition, are agreed standards to measure the impact businesses have on climate change. We need both, and we need them quickly because the planet won’t wait.”
Learn more about the efforts of CAs who are making a difference in an upcoming webinar, Difference Makers Discuss - Sustainability: Connecting the Dots.
Alison’s top talking point
The Foundation is life-changing and is something that we should all be proud of.
Alison Cornwell CA, ICAS Vice President
This summer, I committed to cycling 1000 miles from Land’s End at the far southwest corner of Britain to John O’Groats in the far north to raise funds for the ICAS Foundation. This month I completed the cycle. It was the toughest challenge I have ever undertaken. A relentless routine of cycling for 10 hours, shower, eat, sleep... but I met some incredible people in ‘the bubble’, formed by competitors and support crew. Everyone has their story. Mine has been the ICAS Foundation.
I am now at 95% of my fundraising target with 24.5k raised, which means we're only £500 away from the £25k goal. I would like to thank every person who has made a donation. It is very much appreciated by me and the Foundation. The Foundation is life-changing and is something that we should all be proud of. It would be fabulous to get to 100%, which would fund 10 new bursaries for ICAS Foundation Students. If you’d like to support by donating, you can still do so here.
I would also like to give a warm welcome to the new ICAS Foundation Director, Sanjay Singh. Sanjay is taking over from Linda Jamieson, who has been director of the ICAS Foundation since 2014. Sanjay brings a wealth of experience, with 15 years in the charitable sector and has an empathy for the purpose and work of the Foundation."
Learn more about the work of the ICAS Foundation in supporting young people from disadvantage communities study accounting and finance.
What else has got us talking
ICAS responds to Mini-Budget 2022 and calls for action on key tax areas: ICAS experts comment and provide analysis on today’s Mini-Budget 2022 and call for action on tax and net zero, HMRC resources and regulation of tax advisers
CAs reflect on balancing work and family: Five CAs join our Championing Unique Perspectives Series to share experiences of striking a balance between their family lives and their career ambitions.
ICAS publishes an updated guide to Scottish Taxes: The updated guide is based on the legislation from March 2022 and includes the five income tax rates and bands in place for Scottish taxpayers in 2022/23.