Awarded each year, it recognises one ICAEW member from the profession, business, academia, the public sector – any walk of life – who has served the community in the broadest sense. It is recognised as the profession's most prestigious award.
The Outstanding Achievement Award, in the form of a statue of Economia, was presented to ICAEW in 1980 to commemorate its centenary by the four founding societies: Liverpool, London, Manchester and Sheffield.
The statue of Economia, made of sterling silver and weighing 45 Troy ounces, was designed by Charles Halliday and commissioned from Liverpool silversmiths Boodle and Dunthorne. Economia herself is an allegorical figure who has always appeared in ICAEW’s coat of arms: a professional lady crowned with olive, holding dividers in her left hand, a rod in her right, behind her a rudder. The rod symbolises command, the rudder guidance, and the olive garland, that the good economist must necessarily maintain peace. The dividers represent her unique powers of measurement and assessment, as well as her ability to draw perceptive insights from the world around her.
The recipient also receives a replica of the statue, and a citation specifically prepared by the College of Arms.
Nominations for the Award are welcomed from anybody.