Council vetoes £100,000 ICAEW presidents' pay
Plan to pay future ICAEW presidents £100,000 is narrowly blocked by the institute's council
The ICAEW council has dramatically defeated a proposal to pay future council
presidents £100,000 for holding office.
The motion was defeated by the narrowest margins in today’s all-day council
meeting, by 23 votes to 22, with a number of abstentions.
One member had argued that paying the president would send a bad message to
members, while others argued that payment was required to remove lack of funds
as a barrier to taking up the role.
The payment was to come in the form of a reimbursement to the member’s firm
or business, and would have applied to the office of president alone.
Council member Alan Livesey suggested the vote should be retaken later to be
more inclusive, following the departure of several council members just moments
before. But other members said that everyone was aware of the council’s
itinerary for the day.