Mark Rhys’ tenure as ICAEW President was marked by his desire to ensure that the profession continued to evolve, to remain relevant and trusted in an AI-enabled world and was able to meet the challenges of transitioning to a sustainable economy.

Alan Vallance, who was appointed CEO of ICAEW under Rhys' presidency, reflected: “Mark was a passionate supporter of the institute and a valued member of the ICAEW Council, as well as a Past President.

“He will be remembered for his impressive body of work and tireless service to ICAEW and the wider profession, for which we are eternally grateful. Our thoughts are very much with his family and friends at this difficult time.”

An outstanding career

Mark qualified as an ICAEW Chartered Accountant with Arthur Andersen in 1987, becoming a partner in 1996 and auditing a variety of banking and capital market clients. He later became a partner at Deloitte, where he acted as the global lead contact for the Financial Stability Board.

In 2007, Mark became the inaugural chair of ICAEW’s Financial Services Faculty. He also chaired the Technical Strategy Board and was a member of both the Audit and Nominating Committees.

His broader contributions to the profession include serving as the joint chair of the Global Public Policy Committee’s Bank Working Group, working as a member of the Prudential Regulation Authority’s Practitioner Panel and participating in Sir Donald Brydon’s Auditors’ Advisory Group.

When he was appointed as ICAEW President, Mark made a commitment to lead a stronger, more ethical profession in the public interest, remarking in his final keynote as President: “Our job is to exercise professional scepticism, ensure wise choices, and speak truth to power.”

His mission remains as relevant and critical now as ever, requiring adapting skills and purpose to meet evolving public expectations.