Latest news with #InstituteofCharteredAccountantsofScotland
The Herald Scotland
27-05-2025
- Business
- The Herald Scotland
Ethical leadership is no longer optional – it's essential
Across industries, scandals have shown that wrongdoing often starts with individuals, but it flourishes in cultures and environments that tolerate or even reward unethical behaviour. To build lasting success, organisations must foster a culture where integrity is not just encouraged but becomes the norm. Ethical leadership, done right, is a source of non-financial competitive advantage as well as financial, especially when it comes to brand resilience, talent retention, and long-term sustainability. In its annual World's Most Ethical Companies report in 2024, Ethisphere revealed that publicly traded companies recognised for their ethical practices outperformed a comparable global index by over 12 per cent over a five-year period. The tone must be set at the top. Leaders have a critical role in modelling ethical behaviour and establishing the norms that shape organisational culture. But ethical responsibility doesn't reside solely in the C-suite. A culture of doing the right thing must extend to every level. From interns to executives, everyone has a role to play in upholding ethical standards and "doing the right thing". Business professionals sit at the crossroads of organisational integrity and ethical decision-making. When anyone sees something wrong, they must be prepared to speak up, and those in leadership positions must be willing to listen and follow up as appropriate. Leadership in ethics isn't about job titles – it's about action. Silence in the face of unethical behaviour is not neutrality, it's complicity. Problems left unchallenged only grow more damaging, both for the individual and the organisation. That's why empowering people to raise concerns is vital. When individuals are encouraged and supported to speak up and such matters are appropriately considered, organisations make better decisions, avoid reputational damage, and build stronger, more resilient cultures. Ethics is the conscience of any organisation. It shapes corporate culture and influences behaviour, guides decision-making, and underpins long-term thinking. Ultimately, it builds trust - with investors, regulators, employees, and the public. These are just some of the pillars that will be covered at ICAS's Ethical Leadership Forum on June 3. While leadership must begin at the top, it mustn't end there. Every professional, regardless of their stage in their career, should see themselves as a leader in ethics. Organisational cultures are built when everyone, at every level, chooses to lead. James Barbour CA, is director, policy leadership at the Institute of Chartered Accountants of Scotland (ICAS). ICAS's online Ethical Leadership Forum is on Tuesday June 3. Agenda is a column for outside contributors. Contact: agenda@
Yahoo
29-04-2025
- Business
- Yahoo
ICAS appoints Karen Scholes new president
The Institute of Chartered Accountants of Scotland (ICAS) has appointed Karen Scholes as the new president for the 2025/26 term. She is the sixth woman to hold this position in the organisation's 171-year history. Her appointment was confirmed at the ICAS Annual General Meeting on 25 April 2025. Scholes is the partner director of Scholes CA, an independent accountancy firm. She succeeded Alison Cornwell, the former chief financial officer of Vue International. Originally from Orkney, Karen began her career at AJB Scholes, a practice founded by her late father, where she worked as the sole practitioner until its incorporation in 2008. Under her leadership, Scholes CA has expanded to a team of 36 staff with offices in Kirkwall, Edinburgh, and Aberdeen. Prior to becoming resident, Scholes served as vice president of ICAS in 2023 and deputy president in 2024. ICAS chief executive Bruce Cartwright said: 'Karen brings a wealth of experience to ICAS from her thirty-year career in practice and directing her own successful business. Like many CAs, she's devoted her career to nurturing, advising and supporting the type of SME clients that make up thriving local economies the length and breadth of the UK. 'She's also devoted a great deal of time and expertise to ICAS over the years, through her invaluable contributions to our Council and Practice Board. Her enthusiasm and understanding of the value of ICAS membership and the CA qualification is of huge value to our efforts to grow the profession and inspire the next generation of CA students. 'I would also like to congratulate David Cruickshank CA and Jonny Jacobs CA who have been appointed as our new Deputy President and Vice President.' David Cruickshank has been appointed as deputy president alongside Jonny Jacobs, who takes on the role of vice president. Earlier in April 2025, ICAS also celebrated the induction of 760 newly qualified chartered accountants at its annual Admission Ceremony in Edinburgh. This year's class included graduates from the Robert Gordon University Graduate Apprenticeship programme, marking a first for the institution. "ICAS appoints Karen Scholes new president" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
03-04-2025
- Business
- Yahoo
US-UK accounting deal stalls over audit training standards
Negotiations to enable US accountants to practise in the UK, and vice versa, have stalled amid disagreements, including how to evaluate the standard of American audit training, the Financial Times has reported. The proposed agreement, which would allow US accountants to practise in the UK and UK accountants to work in the US, was intended to facilitate the movement of auditors at top firms, especially when working on audits for large banks and dual-listed companies. The pilot programme, first agreed in 2018 between professional bodies in the US and Scotland, had allowed limited recognition of each other's accounting qualifications. This agreement, which was extended twice while talks continued, ultimately expired in 2024. Efforts to expand the arrangement to include accountants qualified in England and Wales, and to enable Americans to undertake audit work in the UK, have faltered, people familiar with the negotiations told the FT. 'I would describe the process as suspended, not ended,' said Bruce Cartwright, CEO of the Institute of Chartered Accountants of Scotland told the publication. The UK government had expressed support for mutual recognition agreements. The Big Four accounting firms including Deloitte, EY, KPMG, and PwC, have also backed the idea. Cartwright remarked, 'We shouldn't underestimate the complexity of these big financial institutions. If there is senior audit expertise available in the US that could be brought to London and vice versa, then that would be good for everybody.' A key point of contention, according to the report, has been the requirement for UK accountants to complete additional work before being able to add an audit qualification, necessary to sign off on financial accounts. Cartwright explained that while there was general agreement that US audit experience could count towards a UK qualification, it proved difficult to establish an oversight system to ensure American auditors possessed the required skills. The American Institute of Certified Public Accountants (AICPA) has expressed that, in general, US CPAs should receive the same recognition as licensed accountants from other countries, the report said. Another issue has been the US's refusal to include one of the three main UK bodies that provide audit qualifications in the negotiations. While the AICPA has been in talks with two professional bodies — the Institute of Chartered Accountants of Scotland (ICAS) and the Institute of Chartered Accountants in England and Wales (ICAEW) — the Association of Chartered Certified Accountants (ACCA), the second-largest UK body, has been excluded. The ACCA stated that the Financial Reporting Council (FRC), the UK's audit regulator, had the final say on mutual recognition agreements, and that any agreement reached by the FRC would apply to all UK bodies. The ICAEW declined to comment, while the FRC expressed hope that all parties would 'continue to work together to conclude this long-running matter.' "US-UK accounting deal stalls over audit training standards" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
