Penny, who was first elected to ICAEW Council in 2013 and has served as an ICAEW Board member since 2017, succeeds William Brooks and will hand over to Mark Rhys in 2023. 

Penny said: “We can improve social mobility and champion greater inclusivity and diversity. Better decisions are made when we have more views around the table. Our professional qualification opens the door for individuals from all backgrounds to a seat around that table.” 

Another major focus for her year as president will be to advocate globally for ICAEW members to lead the transition to net zero. This supports ICAEW’s commitment to serve the public interest as defined in its Royal Charter, and the implementation of ICAEW’s 10-year Strategy.

Penny said: “When I set out to become a chartered accountant, I had little insight into the potential for the profession to be such a positive force for societal and environmental change. But chartered accountants can lead the transition to net zero, helping businesses to identify the changes necessary and providing assurance on green reporting.”

After qualifying as an ICAEW Chartered Accountant in 1989, she began a training role, initially teaching students and later moving into CPD training and technical roles. She specialises in audit, financial reporting and anti-money laundering and has worked for a diverse range of organisations, including Wolters Kluwer, Wilmington plc, Chantrey Vellacott and Baker Tilly (now RSM). Alongside a variety of other work, she runs her own consultancy practice, JS Penny Consulting.

“While our members work in many different roles, as auditors, accountants, business leaders, academics and advisers, ultimately, chartered accountants help create strong and sustainable economies and I am honoured to be able to serve as President.”

Penny has been involved with the Thames Valley Society of Chartered Accountants since the start of her career and served first as Treasurer and then as the Society President in 2001/2. She later became chair of the ICAEW Technical Advisory Committee and a member of both the Technical Strategy and Financial Reporting Faculty Boards.