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Chief Exec's blog

Crunch time for international standards

The accountancy profession's international standards setter is under pressure from national interests

Corporate redemption

Maybe it’s because it’s Easter that my thoughts turn to the concepts of forgiveness and redemption...

Is €1,169 too big a price to pay for transparency?

A European Commission plan to allow member states the option of allowing “micro-entities” – effectively companies with a turnover of less than €1m (about £923,300) – to be removed from the accounting requirements of EU law is a concern

Audit expectations

Since when were auditors also expected to be fortune tellers?

Would more time in the classroom improve the boardroom?

Very interesting conference last Friday. ICAS, supported by PricewaterhouseCoopers, brought together a panel of leading CAs to discuss the main corporate governance issues that have been thrown up by the recent problems in financial markets

A fair fight

Fair value accounting is in the crosshairs of criticism from lawmakers in the US and Europe. The proponents of removing fair value argue that it has fuelled the economic crisis. ICAS does not share that view – we strongly believe such a move would represent a move to conceal the truth. On that basis, I thought you would like to see a letter which I have sent to the Prime Minister, the Business Secretary, the leader of the Opposition and the EU Commissioner for Internal Markets and Services

Healing the markets

To use an analogy, I believe that accounting professionals can be seen as nurses to the markets – ensuring that strong medicine is given to cure the illness of over complex products and over valued stocks. Yes – that has led to writedowns. Yes – these have not been popular with investors or management. But what was the alternative? A situation similar to Japan in the 1990s, where the financial sector was sleepwalking for the best part of a decade and the economy suffered accordingly?

Making sense of the future

An unparalleled line up of speakers will be at the CA Conference at Gleneagles next week to help us make sense of the current economy, and look at what the future holds

Treading a fine line on non-executive directors

After a very enjoyable summer break, I arrived back last week to the usual crammed inbox and a mountainous pile of correspondence. Near the top of the pile was the Joint Disciplinary Scheme’s (JDS) report on its investigation into Lord Wakeham’s role in the collapse of Enron

Critical friends or worthless allies?

I continue to hear excellent feedback about ‘Avoiding the Pitfalls’, free guidance issued by ICAS for private companies

Back to school

As a former teacher, it was a huge pleasure to step back into the classroom last week as we launched, together with Glasgow City Council and Scottish Borders Council, Debt Can Be Dangerous

The uncertain certainty

The old chestnut that the only two certainties in life are death and taxes should not be uttered in the company of any CA. Unless of course, you are spoiling for an argument

Ethics man

Ethical behaviour should run through a company like the lettering in a stick of rock. All the more reason to pay attention to Dr David Molyneaux's new publication, What do you do now?

Investing in the future

Helping small and medium-sized firms 'grow their own' CAs

Thinking ain’t what it used to be

Some thoughts on what we know as "thought leadership"

A fitting tribute

I wasn’t lucky enough to work with Aileen Beattie, former Technical Director at ICAS, but her legacy of integrity, intelligence and decency will not be forgotten by the many friends she left here at ICAS and throughout the profession

I look forward to hearing from you!

Wherever the job takes me, I'll be in touch – and your comments are always welcome

ICAS BC - Current all pages (link opens in new window)

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