With Anstee proving controversial for his strong-willed approach and drive to make the institute more influential and internationally focused, institute insiders have singled out Izza as the prime candidate for the role. 'Izza is a very strong candidate, a wonderful administrator and a safe pair of hands,' said one senior council member.

Despite Izza’s popularity, other council members suggested a 'similar strong character' to Anstee would be required to continue the ICAEW’s strategy. 'I think they’d look externally,' said another council member. 'Izza has been strong as COO, but if they moved him he would then need replacing.'

News of Anstee’s departure broke at the ICAEW council conference held last Thursday and Friday. While Anstee had originally stated he would serve three years, insiders said they would have expected him to stay on another year if the merger attempt with CIPFA had been approved by members.

The conference also saw a presentation of the review into what led to Graham Durgan stepping down as incoming president of the ICAEW, following concerns of a perceived conflict of interest.

While plans to strengthen its nomination committee have been mooted to avoid a similar situation, some council members expressed disappointment over the lack of detail provided during the review.