New ICAS president enters post-Enron age
Cahal Dowds, the new (and youngest-ever) president of the Institute of Chartered Accountants of Scotland says the institute must play a 'meaningful role' in the post-Enron debate on auditor reform.
Speaking after his instalment as president, the 42-year-old partner from Deloitte & Touche, said ICAS and the profession faced the ‘greatest challenge’ in its history, but said the institute understood that ‘reform requires thorough analysis and respect for differing views’.
‘Auditors’ independence must continue to be rigorously examined. But the debate must not focus exclusively on this topic. It must be considered in conjunction with other issues such as corporate governance, accounting and financial reporting, oversight of the accounting profession, and corporate culture and ethics,’ Dowds added.
He takes over from Andrew Christie, professor of taxation at Heriot-Watt University and is supported by new senior vice-president Murdoch McKillop, senior corporate restructuring partner at Andersen, while the junior vice-president is Martin Gilbert, chief executive of Aberdeen Asset Management.