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

Panel Members

John Leburn (Convener)

John is currently a Principal Consultant for Exponentiate.uk , providing a wide range of business support services to a varied client base. He is also a non-Executive Director of West College Scotland, a Group Business Mentor with the Renfrewshire Chamber of Commerce and guest lectures in accounting at The Universities of Edinburgh and West of Scotland. He also teaches a practical strategy workshop on the Edinburgh University Business School’s MBA program.   A graduate of Edinburgh University, John has enjoyed a long and varied international career with many blue-chip organisations, spanning sectors such as Audit; FMCG; Infrastructure; Defence; Aerospace, Wines and Spirits, Pensions and SME’s.  He has managed Finance, IT, Business Analysis; Customer Service, Strategic Planning, Consumer Intelligence, Commercial Development, Supply Chain and Investor Relations functions.

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.

Chris Hebden

Chris is group finance manager at Cairn Energy PLC, with responsibility for the Group’s Statutory reporting requirements, preparing Financial Statements and maintaining the Groups accounting policies and producing monthly management reporting, managing multiple currencies. Through his role Chris has participated in several FRC Financial Reporting Lab projects.  Chris joined ICAS in 1996.

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.

Jonathan Loukes

Jonathan is deputy finance director of Aberdeen Asset Management, overseeing the finance function, including financial reporting, financial planning & analysis, tax, treasury and regional finance teams. He is a member of the Group Management Board.  He joined Aberdeen in 2010 from Deloitte where he held senior roles in corporate finance and audit.  Jonathan qualified as a CA in 1998.

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.

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.

Steven Mitchell

Steven heads up the corporate reporting output at Tayburn in Edinburgh, an award winning creative branding and design agency. Tayburn's role is to help corporate brand owners challenge the unremarkable and create exciting new connections between their brand and their stakeholders. They create strategies, ideas, experiences, and communications that will get a brand noticed, remembered, and talked about.  Steven joined Tayburn in 1996 and since then has challenged the unremarkable with a wide variety of clients including SSE, Aggreko, Scottish Water, STV, SGN, Macfarlane Group and The Jockey Club.   His experience of online and printed corporate communications covers both annual reporting and sustainability focused reporting too.

Mark O'Sullivan

Mark leads PwC’s Corporate Reporting and Governance team in the UK. He has over a decade of experience in advising many leading organisations on current and best practices in reporting, the effectiveness of their corporate reporting and the implementation of new reporting strategies in order to meet the needs of the capital markets and the increasing regulation around corporate reporting.

Fiona Robertson

Fiona is currently studying for a PhD specialising in Integrated Reporting at Leeds Beckett University.  She has previously worked in senior finance roles in industry, with particular expertise in compliance, internal audit and project management. Fiona qualified as a CA in 1988.

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.

Rosalind Szentpeteri

Rosalind is a Project Director in the Accounting and Reporting Policy team at the Financial Reporting Council (FRC). She specialises in corporate reporting and is the author of Clear & Concise: Developments in Narrative Reporting. Her expertise includes working on the development of the FRC’s Guidance on the Strategic Report, the UK implementation of the EU Directive on disclosure of non-financial and diversity information, and leading the FRC’s research on climate change disclosures. Rosalind also leads the FRC’s work on revenue recognition, accounting for goodwill, intangible assets and impairment, and the FRC’s response to the IASB’s Disclosure Initiative. She previously spent 7 years with EY, qualifying as a CA in 2010

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.

John Waterson

John is a director with KPMG in Scotland in the financial services practice.  He works on a number of banking and investment management external and internal audit clients and has a strong financial services background given his audit experience on FTSE 100 across Insurance, Banking & Investment Management clients.  John joined ICAS in 2007.


  • Corporate and financial reporting
  • Committees and boards

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