Gerald Russell has been named as the new Vice President of the ICAEW.
The Ernst & Young stalwart beat off competition from Ian Hayes, managing
director at Vataxworld London and Paul Wagstaff, client partner at HLB Vantis
Audit to win the post.
After the announcement, made at the monthly meeting of the Institute’s
council, Russell said: ‘Our profession faces significant threats as well as
opportunities over the next three years and beyond. In the short term we need to
ensure our reputation is not damaged by any fall out from the credit crunch and
economic slow down which follows.’
Russell, a senior partner at E&Y with special responsibility for
independent assessment of client services, is also vice chair of the CBI’s Audit
Committee Chair Forum and chairman of the Institute’s Audit Quality Forum.
The ICAEW said that Russell will take up office on 4 June and the wheels have
now been set in motion for him to take the top job at the Institute. He will
become deputy president after a year as VP, before eventually becoming president
Russell added: ‘I’m delighted that I will be able to use my experience for
the benefit of my own professional body. Being a chartered accountant is
undoubtedly recognised around the world as the premier qualification. The
Institute has an ambitious strategy and I’m looking forward to playing my part
in helping achieve its goals over the next three years.’
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