ICAEW Board

• Peter Wyman - Chair
• Derek Blair - President
• Shamshad Ali
• Elizabeth Barber - Risk Committee Chair
• David Franklin - Chief Financial Officer
• Mark Freebairn - Remuneration Committee Chair
• Nina Hingorani-Crain - Audit Committee Chair
• Mary Hockaday - Senior Independent Board member
• Simon Peacock - Investment Committee Chair
• Mary Phibbs
• Richard Nunn
• Malcolm Wood
• Alan Vallance - Chief Executive

• Caroline Smale - Deputy President
• Rob Tindle - Vice President 

The Board Nomination Committee has delegated responsibility for policy matters relating to the appointment, removal and succession planning for Board members and senior management.

• Terms of Reference

The Audit Committee is accountable to ICAEW Board. The Audit Committee has delegated responsibility, on behalf of Council, for oversight, assessment and review of external audit, financial reporting, internal controls, risk management and internal audit. It also monitors the integrity of ICAEW's annual report and group accounts, including providing oversight and assurance to the Directors of each subsidiary account.

The Board receives the minutes of the Audit Committee quarterly. The Chair of the Audit Committee reports to the Board on how the Committee discharges its responsibility and also provides a report of its activities in ICAEW’s annual report including:

• providing an opinion as to whether the systems of internal controls and risk management are adequate;
• the significant issues that it considered in relation to the financial statements and how these issues were addressed; and
• its assessment of the effectiveness of the external audit process and its recommendation on the appointment or reappointment of the external auditor.

• Committee Terms of Reference

The Risk Committee is accountable to ICAEW Board and has delegated responsibility for the management of risk relating to the strategy and operations of ICAEW. The Committee has specific powers, responsibilities and authorities delegated by the Board including:

• to provide advice on overall risk appetite, tolerance, and strategy and the principal and emerging risks proposed or accepted by ICAEW in order to achieve the long term strategic objectives;
• assurance on the risks to which ICAEW is exposed to e.g. reputational, operational;
• to advise the Board on the likelihood and impact of the principal risks;
• monitoring the effectiveness of ICAEW’s risk manager 

• Committee Terms of Reference

The Remuneration Committee has delegated responsibility for policy matters relating to remuneration for members of ICAEW staff, boards and committees, and volunteer expenses, reporting to ICAEW Board or the Governance and Appointments Committee with recommendations as required.

• Committee Terms of Reference

The Investment Committee has delegated responsibility for ensuring the appropriate investment of ICAEW’s investment assets, to seek to meet budgets, capital and liquidity requirements and to generate an appropriate risk-adjusted return.

The Committee has specific powers, responsibilities and authorities delegated by the Board including:

• recommendation of an appropriate investment policy
• oversight of the portfolio’s Environmental, Social and Governance (ESG) impact, to maintain a supportable approach and to help to maintain the reputation of ICAEW
• Monitoring adherence to the policy and investment performance with use of benchmarks as appropriate
• Consideration of the best interests of ICAEW in line with ICAEW strategy
• Monitoring of the investment control environment, risk parameters and ensure that the investments are managed in accordance with agreed policy and in accordance with legislation and good practice.

• Terms of Reference