ICAS Accounting Standards Committee

Committee Meeting

The ICAS Accounting Standards Committee aims to ensure that ICAS has a leading edge in financial reporting matters, both in the UK and internationally:          

  • by offering views and guidance to the FRC, IASB and other bodies on accounting practices affecting or likely to affect ICAS and its members, and
  • by reviewing, and where appropriate, commenting on documents issued by the FRC, IASB, EFRAG and other bodies on such matters.

The Committee’s key policy positions are:

  • Support for IFRS as a single set of high quality international standards developed under due process and in the public interest and adopted in totality, to support transparent and consistent financial reporting on a global basis. (Public interest; transparency and accountability; principles not rules.)
  • Proper application of materiality in financial statement disclosures, so that disclosures focus on what is important and are not obscured by irrelevant detail. (Public interest; principles not rules.)

If you would like to find out more about the work of the committee, please contact accountingandauditing@icas.com

Committee Members

John McLeod (Convener)

John is a partner at Mazars LLP and has been the convener of the Accounting Standards Committee since 2014. John is a Partner in the Scottish Region delivering audit, accounting and related advisory services to a wide range of clients. His particular specialisms include Owner Managed Businesses, Scottish Charities, Pension Scheme Audit, Legal Practices and Public Sector. John qualified as a CA in 1991 and has  experience working in audit and accounting roles within independent Scottish firms, mid-tier firms and Big 4.

Andrew Buchanan

Andrew is Global Head of IFRS at BDO, with responsibility for the provision of IFRS technical accounting advice, reference material and training to the BDO international network of member firms.  Andrew qualified as a CA in 1991 and represents ICAS on the FEE Corporate Reporting Policy Group.  He is also a member of the UK Government Financial Reporting Advisory Board and in July 2016 takes up an appointment to the IFRS Interpretations Committee.

Colin Burns

Colin is Technical Director at RSM UK in Edinburgh and has been a member of the ASC since 2010.  Colin qualified as a CA in 2005.

Stephen Buttery

Stephen is Head of Statutory Reporting at TSB Scotland PLC. Stephen qualified as a CA in 1995 and is also a US Certified Public Accountant.  He has significant experience of banking gained from roles in professional services, financial reporting and investor relations.

James Henderson

James is a Senior Internal Audit Manager at TSB Bank plc and has been a member of the ASC since 2014. After an earlier career as a researcher in speech technology and a computer programmer, James qualified as a CA in 2007 in the financial services audit practice of EY, where he co-edited the firm’s model IFRS accounts for the insurance industry.  James then spent three years in Group Corporate Treasury at Lloyds Banking Group before returning to EY in the Financial Accounting Advisory Services team, in which role he provided technical financial reporting consultancy services to banks, life insurers and asset managers. As the treasurer of a national charity James also has an interest in financial reporting for charities.

Chris Johnstone

Chris is Audit Senior Technical Manager at Johnstone Carmichael with responsibility for financial reporting and company law updates and training. Chris qualified as a chartered accountant with ICAEW and also holds the ICAEW IFRS diploma.

Kenny McDowell

Kenny is a partner with Saffery Champness based in Edinburgh with specialist knowledge in the not-for-profit and commercial sectors.  He has previous experience with Big 4 and mid-tier firms. Kenny qualified with ICAS in 1995 and is also a member of the Financial Reporting Council’s UK GAAP Technical Advisory Group and the UK Charities SORP Committee.

Robert McCracken

Robert is a partner with Ernst & Young in London, dividing his time between a leadership role in the UK firm’s accounting technical department, a global role as co-chair of the firm’s IFRS Financial Instruments Working Group, and a role as audit partner for financial services clients. Robert qualified as a CA in 1983.

Craig Simpson

Craig is a Large Business Accountant with HMRC, advising tax colleagues on accountancy matters in the largest businesses in the UK, with particular focus on groups in the banking and insurance sector. He has previous experience working as an audit senior manager in a Big 4 firm. Craig qualified as a CA in 1995.

Yannis Tsalavoutas

Yannis is a senior lecturer in accounting at the University of Glasgow, teaching financial reporting.  He holds a PhD in accounting from the University of Edinburgh and has published academic papers on IFRS and financial reporting.


  • Corporate and financial reporting
  • Committees and boards

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