ICAEW Annual Report for 2023

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A FORCE FOR GOOD

This decade is critical and truly one of transformation

CHIEF EXECUTIVE'S FOREWORD

"I reflect with pride on everything our institute has achieved during my 18 years in the role, and would like to express my gratitude to everyone I have worked with and who has supported me."

MICHAEL IZZA

CHIEF EXECUTIVE TO 31 MARCH 2024

THE CEO'S STATEMENT

WELCOME TO OUR NEW CHIEF EXECUTIVE

"I am delighted to be joining ICAEW. It is a genuine honour to have been asked to lead the organisation of which I am a member and to succeed Michael Izza as Chief Executive."

ALAN VALLANCE

CHIEF EXECUTIVE

MESSAGE FROM THE PRESIDENT

"Much of our success depends upon the generosity and goodwill of our global network of volunteers. We are extremely grateful for everything they do."

MARK RHYS

PRESIDENT

THE PRESIDENT'S MESSAGE

OUR HIGHLIGHTS

£142.2M

Total income

£10.0M

Net surplus after tax

£58.0M

Subscriptions and Fees income

£130.2M

Operational income

£20.1M

Education and training income

£183.1M

Net assets

Financial statements

OUR VISION

ICAEW Chartered Accountants enable a world of sustainable economies

Our global community can and should be a force for good, achieving prosperity in ways which are responsible and resilient. Our members measure, advise and assure with expertise and integrity, enabling the conduct of business on a fair, transparent and accountable basis.

Our vision

OUR STRATEGY

Our strategic foundations

Our approach to strategy is condensed into three core pillars of activity, the strategic foundations, which seek to fulfil the obligations of our Royal Charter:

Strategic report Our strategy

Belonging and supporting

We support our more than 169,500 members across the world, personally and professionally. We do this through our faculties, communities and district societies, as well as the Chartered Accountants Worldwide (CAW) network.

Education and training

We are committed to educating the chartered accountants of tomorrow, with a focus on building future business and professional leaders. We work with universities, schools and other educational establishments to support recruitment activity for employers and our commitment to social mobility.

Reputation and Influence

We apply our expertise across a wide variety of topics relating to business, the profession and national policymaking. Our work in upholding standards is also crucial to protecting the public and holding our members accountable.

Strategic report Our strategy