The Institute of Chartered Accountants of Scotland (ICAS), the world’s oldest professional body for chartered accountants, has marked its 170th anniversary.
In line with its commitment to shaping the profession future, ICAS has introduced “Shaping the Profession”, a new programme designed to forecast and navigate the evolving role of finance professionals in society.
This project seeks to understand and address the societal needs that accountants will serve in the coming years.
To celebrate its anniversary and engage future generations, ICAS initiated a nationwide competition inviting school children to design the CA magazine cover.
The contest drew hundreds of entries, with the winning design featured in the December issue.
In 2024, ICAS launched ‘CA24’, a new syllabus and learning approach for accountancy students.
This UK-first initiative represents one of the most substantial developments in the institute’s history, ensuring the CA qualification remains pertinent amidst changing business environments.
Established by Royal Charter in 1854, ICAS has been a key influence in shaping the global accounting profession, supporting its members, and serving the public interest.
ICAS has been integral to the evolution of accounting, transitioning from the days of candlelit bookkeeping to embracing the modern era of digitalisation and artificial intelligence.
The institute’s introduction of the ‘CA’ designatory letters in 1855 has become a hallmark of quality and integrity in the field.
ICAS has a history of producing pivotal reports, with the 1988 “Making Corporate Reports Valuable” significantly impacting financial reporting.
Currently, ICAS represents a global network, with more than 24,000 members in over 80 countries.
ICAS CEO Bruce Cartwright said: “It’s no exaggeration to expect the pace and scale of change over the next five years to be faster than at any time in the last 170.
“While technological advancements, sustainability reporting developments, governance reforms and regulation continue to reshape the profession, our legacy serves as a reminder of the need for resilience and capacity for adaptability.”
