Highlights from June’s ICAEW Council meeting
ICAEW Council met on Tuesday 2 and Wednesday 3 June 2026 at Chartered Accountants’ Hall, with some Council members joining via video link. The meeting followed the ICAEW’s AGM and marked an important point in the Institute’s governance cycle. It included new leadership appointments, continued strategic discussions and decisions, together with updates on key regulatory and organisational priorities.
“This is an important moment for ICAEW as we shape the Institute for the future. The issues discussed at this Council meeting, from the merger with CIPFA and financial resilience, to holding the Board to account on the development of a member value proposition, governance and the opportunities presented by new technology, reflect both the scale of change around us and the strength of our ambition in responding to it.
I look forward to working with colleagues across Council and the wider organisation to support decisions that strengthen public trust, deliver long-term value for members and ensure ICAEW remains relevant, resilient and protects our reputation in a changing environment.”
Julian Daly, Chair of ICAEW Council
Council leadership and transitions
Council formally welcomed Julian Daly as the new Chair of Council, following his recent election. He paid tribute to his predecessor Matt Stroh for his contribution over the past three years and thanked Council members for their continued support.
The meeting marked the annual transition of Office Holder roles. Council approved the appointments of Caroline Smale as President, Robert Tindle as Deputy President, and Neil Cutting as Vice President, reflecting a smooth and well-established succession process. New Council members were welcomed, drawn from the Student Council, ICAEW’s business membership and the Europe and Eurasia constituency, reinforcing the breadth and diversity of Council’s composition.
ICAEW’s proposed merger with CIPFA
Council continued its oversight of major strategic activity, focusing on ICAEW’s proposed merger with CIPFA. In December 2025, Council approved proceeding on the basis of Heads of Terms agreed in June 2025. That approval was subject to several conditions, including the development of a Statement of Investment Funding (SIF) to support the merger and subsequent activity. The Executive prepared the SIF, which was scrutinised and signed off by the ICAEW Board before being presented to Council at this meeting for approval.
Council’s discussion reflected the significance of the merger in strengthening the Institute’s long-term relevance, reach and resilience, particularly in the public sector. Members recognised both the opportunities and risks of the merger, and the importance of strong governance, careful financial stewardship and clear delivery of strategic benefits. The discussion tested the due diligence findings and highlighted the value of Council and the ICAEW Board working together to provide robust scrutiny and constructive challenge on major strategic decisions.
The discussion showed strong support for proceeding with the merger, reflecting confidence in the proposed funding framework, the governance arrangements and the strategic importance of the transaction. Council approved the Statement of Investment Funding by majority vote. ICAEW will be providing members with further details shortly.
CIPFA is working to secure the necessary regulatory consents and requires the endorsement of its membership via a vote. ICAEW will keep members updated as appropriate.
Board update and organisational performance
Council delegates the leadership, management and operation of ICAEW to the Board. The Board Chair, Peter Wyman, presents a report and answers questions at each Council meeting as part of the Board’s accountability to Council. The June report covered financial performance, strategic initiatives and governance developments. Peter also reported positive year-to-date investment performance, alongside a continued focus on financial resilience and long-term sustainability.
Council members asked when they would see the revised Board key performance indicators aligned to the Direction 2030 strategy. These need to be formally adopted by the Board and are expected to be presented at the next Council meeting in October. Discussion also covered the member value proposition, progress on sustainability and wider ESG priorities, and ICAEW’s approach to emerging technologies, particularly artificial intelligence.
Governance and appointments
The Governance and Appointments Committee reports to each Council meeting. It updated Council on plans to review its effectiveness and ensure that governance arrangements continue to operate proportionately and effectively as they mature.
Council approved the appointment of a new non-executive Board member. The new appointee will be announced shortly. She is not a Chartered Accountant and brings senior legal and governance experience to supplement and add to the range of skills, expertise and independence on the Board.
Regulation and Professional Standards
Parjinder Basra, Chair of ICAEW Regulatory Board presented the Regulation and Professional Standards annual report, highlighting progress in strengthening regulatory effectiveness and maintaining high professional standards. The report emphasised a continued focus on accountability, prevention and education, supported by improvements in transparency and communication.
Members noted the increasing complexity and volume of regulatory work, including the impact of new technologies, and welcomed ongoing efforts to enhance efficiency, support members, and protect the public interest.
Volunteer at ICAEW
Do you have a passion for supporting your profession? If so, why not get involved with ICAEW Council or volunteer to join one of our committees and help shape the profession’s future.
