PracticeAccounting FirmsICAS pension deficit soars

ICAS pension deficit soars

The Institute of Chartered Accountants of Scotland has revealed its pension deficit has increased to £3.3m.

Link: ICAS wants MPs held accountable

The £3.3m deficit to the end of 2002 compares to a £400,000 deficit for the previous year.

ICAS blamed falling stock markets for the massive increase, which it said had hit pension funds ‘across the board’.

But there was some good news in the accounts with profits to the end of 2002 coming in at £195,000. Although ICAS is a non-profit making organisation it highlights its work in Hong Kong and Romania as a key income generator.

Earnings come from membership fees, courses and the awarding of certificates.

Related Articles

Where is your next client coming from?

Accounting Firms Where is your next client coming from?

2d James Noble, Propero Partners
Specialist VAT service provider joins MHA

Accounting Firms Specialist VAT service provider joins MHA

2d Austin Clark, Reporter
Grant Thornton expands financial services regulatory team

Accounting Firms Grant Thornton expands financial services regulatory team

1w Austin Clark, Reporter
Top 50+50: Revenue rises spark rankings shake-up

Accounting Firms Top 50+50: Revenue rises spark rankings shake-up

2w Emma Smith, Managing Editor
BDO strengthens Bristol team with new audit partner

Accounting Firms BDO strengthens Bristol team with new audit partner

2w Austin Clark, Reporter
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2w Alia Shoaib, Reporter
Top 50+50: Firms fall short on diversity

Accounting Firms Top 50+50: Firms fall short on diversity

2w Alia Shoaib, Reporter
Top 50+50: Big Four hold steady, shake-up outside Top 20

Accounting Firms Top 50+50: Big Four hold steady, shake-up outside Top 20

2w Emma Smith, Managing Editor