Scots ICA leader looks to future
The Scots ICA summer conference hears an optimistic message from itspresident but is told to upgrade its business acumen
Last year’s gloomy predictions about the health of the Scots ICA were swept aside at the summer conference by the institute’s president.
Robert Smith revealed to delegates last week that a forecast # 300,000 deficit proved false, with the institute recording its first surplus for five years. He predicted the institute would break even this year.
Membership concerns were also unfounded, Smith added, with 14,000 chartered accountants currently subscribing and more members joining than leaving.
Smith outlined several major developments for the institute in the coming year.
A new education review starting in November will examine the possibility of introducing options into the institute’s final exam papers.
Smith said the exam had to be more attractive. ‘We’ve got to keep up with demand. There are lots of youngsters wanting to be Scots chartered accountants and there’s demand for their services, but people are not training them in the numbers required.’
Smith also expressed concern about the debate over professional liability.
‘I want auditing to be a strong profession, and I want youngsters to come into it, rather than shying away because of liability. We need auditors who can blow whistles, not qualify accounts so that you can’t tell what they mean.’
Members were asked to back the institute’s development of continual professional learning (CPL). A new scheme, requiring 50 hours’ CPL a year, will be introduced in January subject to members’ approval.
Smith said: ‘It’s not an awful lot to ask. If people are not doing it now, they damn well ought to be. We must make a strong statement that we are doing something to ensure we are staying up to date.’