ICAEW accounts in the black

Link: ICAEW’s hidden stash

For the first time the annual review of accounts establishes changes in presentation, recognition and measurement needed in order to meet current IAS requirements.

The institute said income was up 6.3% to £47.1m. A deficit of £1.26m in 2002 was turned into a £539,000 surplus last year.

Eric Anstee, chief executive, said: ‘I believe the institute is in robust shape to meet the challenges it has set itself going forward.’

Commenting on the IAS case study, he said: ‘The Institute has been at the forefront of work to pioneer IAS and provide guidance on their introduction. The purpose of the case study is to share our own practical experience in planning for their implementation.’

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