Brexit: Join ICAS in the great debate

Brexit Westminster
Mike McKeon, Chair of the Brexit Advisory Group By Mike McKeon CA, Chair ICAS Brexit Advisory Group

13 January 2017

Mike McKeon CA, Chair of the ICAS Brexit Advisory Group explains why the Group has been established and asks for members to get in touch with their views.

Allow me to introduce ourselves

Brexit will affect everyone at some time and in some way, which is why we have set up a Brexit Advisory Group.

The aim of the Group is to:

  • address and represent the views and interests of our members, and
  • assist members in understanding the impact of key issues on them and their organisations.

In doing this we will seek to influence developments within our areas of experience and expertise on behalf of our members and in the public interest.

The Group is made up of both CAs and leaders from the business, political and academic communities.

What are we trying to achieve?

Engagement with you. To both learn about your concerns and to assist in your understanding of the issues, of which there are many.

This article is, therefore, the first of a series on Brexit. These articles will address areas of immediate interest to you, which is why we are asking you to get in touch and let us know your thoughts. You can do this by emailing us.

What will we be focusing on first?

First, we will look at the potential impact of Brexit on areas of close interest to you, namely: financial and corporate reporting; audit; and corporate governance.

We will also work with the technical and expert panels within ICAS on topics such as business, tax, pensions, insolvency and not for profit. This list is not exhaustive. It will change over time and in response to your input.

We have deliberately chosen those areas that are well understood by members and on which we have a wealth of experience. Our first views are, that even with Brexit, the UK Government should not look to change much in these areas, which in general are working well.

We can make a valuable contribution to the debate by indicating those areas where change should not be the starting point. With so much uncertainty at this time, stability in these areas is necessary.

But you may think differently. So when an article is published in which we lay out the arguments for our advocated position, please email your views to us or use the button below.

Targeted research

We will look to obtain objective and validated source information on key economic trade and people/migration flows that you can use, in your professional capacity, and that we can use, in our work to support our adopted policy position.

There is currently no shortage of commentary and information out there, but it is of varying quality and value.

Influencing outcomes

With your feedback we will seek to influence developments. This falls squarely within the duties ICAS has under its Royal Charter to work in the public interest.

We have already discussed our plans with the UK Government, and our approach has been welcomed. The UK Government is looking for considered input into the Brexit debate, and we have committed to just that.

We will also look to work with the Scottish Government, to support and influence their activities.

Our work will be complemented by collaboration with other interested organisations such as the Financial Reporting Council (FRC), The Chartered Institute of Public Finance and Accountancy (CIPFA) and the German auditing profession.

A roadmap for the profession

We are all starting out on a discovery of what Brexit will ultimately mean. This journey will no doubt be long and bumpy, but, with your help, we will try to arrive at the best possible destination for our profession and UK business.

So watch this space and please let us know your thoughts.

Send us your thoughts

Brexit: Join the debate


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