Q2 2024
Richard Nunn, BSc, BFP, FCA
As I pen this note, the seasons are transitioning from spring to summer—sometimes in Canada, that happens over a single weekend! Similarly, change is unfolding at the ICAEW. In this newsletter, you will hear from our new Chief Executive, Alan Vallance. I had the privilege of being on the selection panel for this role, and I am confident that Alan possesses the skills, experience, and vision to propel the ICAEW forward, building upon the legacy of Michael Izza.
This time of year, also marks the release of the ICAEW's Annual Report, which highlights our performance and plans. The AGM is set for early June, and I encourage you to read the report. It underscores the numerous initiatives underway and the significant impact the ICAEW is making. Many years ago, I participated in a strategy session with the Council where we explored anchoring our strategy around the Sustainable Development Goals set forth by the United Nations. Today, it’s gratifying to see that this approach has become standard practice in many corporations. I am proud that the ICAEW was a pioneer in this vital area. Our institute leads in many ways, which is why I remain deeply involved in its governance.
As mentioned in previous posts, we have been reforming the governance structure of the ICAEW. A key aspect of this reform is the refresh of the Board to make it more streamlined and focused. Consequently, I have been appointed to the new Board and will be stepping down from my Council seat. This aligns with our commitment to separating the Council and Board roles for better governance. This will be my last post as a Council Member, but I will continue to be involved with the ICAEW through my role on the Board. I remain committed to making the ICAEW the best it can be.
Thank you all for your support and engagement.
Richard Nunn
ICAEW Council Member for Canada
Q4 2023
Richard Nunn, BSc, BFP, FCA
Welcome everyone to the Q4 newsletter. It has been a busy time for our Institute, the Council is undertaking the most significant governance reform in its history and this multiyear project includes professionalizing its board, reframing the role of Council and many other initiatives. This will set ICAEW up effectively to confidently progress into the future.
We also have announced a new CEO, Alan Vallance. I was privileged to serve on the CEO Selection Panel which has worked diligently since the spring to select the new CEO. We will say goodbye to Michael Izza, who has led us for 17 years in May and Alan is well positioned to build upon his legacy.
I encourage you to reach out to me if there are items affecting the future of our profession or your role where you think the ICAEW should lean in or where the ICAEW could help you to succeed. In the meantime, I wish you all the best wishes for a peaceful and restful holiday season.
Richard Nunn
ICAEW Council Member for Canada
Q2 2023
Richard Nunn, BSc, BFP, FCA
Greetings fellow Chartered Accountants,
We are now into the dog days of summer and I hope you are managing to avoid the wildfire smoke. It has been a busy period for the Council, with meetings in May, June and July. There are important governance reforms being implemented to ensure that the ICAEW remains relevant and fit for purpose and enjoys the respect of our many stakeholders. This has been somewhat consuming for the Council agenda as it is important to get this right. A search is underway for a permanent Chair of the Board as previously this role was held by the President who only serves a one-year term. The Chair will be able to focus more on the longer-term future of the organization and work collaboratively with the CEO. You may have read that our long-serving CEO, Michael Izza, has announced his retirement effective December 2023. He will be hard to replace as he has served the ICAEW faithfully for over 16 years. I have been asked to serve on the search committee for the new CEO and that work has commenced. So these are important decisions that will affect the organization's future that has been at the top of the global accounting profession in terms of reputation and influence.
June is traditionally the end of the President’s year and we welcome a new president. We said a big thank you to Julia Penny for her Presidential year and welcomed Mark Rhys as he starts his term. He has a focus on the members that are in business to make sure the ICAEW is a strong voice for them as well as its members in practice.
Just a note from me on CPD. There are new requirements coming so please take a moment to read about those. They are not intended to trip us up with another compliance requirement but simply to demonstrate to our regulators and others that our members are professionals and keep themselves current. The team has been working diligently to make sure it is as easy as possible to get credit for the professional education you probably already do to keep yourself relevant in your field of business.
I also wanted to congratulate Michael Baigel, a member based in Toronto, who has recently been appointed to the Members and Commercial Board. So now we have two Canadian voices at the governance level of ICAEW.
If you have any feedback or suggestions please do write to me.
Have a great summer
Richard Nunn
ICAEW Council Member for Canada
Q1 2023
Richard Nunn, BSc, BFP, FCA
Hello fellow members in Canada,
After a snowier, darker winter than normal in many parts of Canada many of us are emerging into Spring. These extreme weather events do underscore the importance of climate changes on our lives and importantly the role we as accountants have to play in the determination and evaluation of the impact of Environmental, Social and Governance (ESG) reporting.
I encourage you to look at the ‘Climate Assurance: The role of Internal Audit’ event and read the content in the bulletin on sustainability, ESG assurance & reporting, and the role we have to play in this fast emerging topic.
As warmer weather comes we will hopefully have a chance to connect in person, but I did also want to highlight for you that we do have a linked in group ICAEW members in Canada – I would encourage you to join that group and dialogue with your fellow members.
Richard Nunn
ICAEW Council Member for Canada
Q4 2022
Richard Nunn, BSc, BFP, FCA
Dear fellow Canadian members,
In early December we held member events in Vancouver, Montreal and Toronto, thanks to Ian, Susan and Ravi, our contact members for hosting these opportunities to get together again after three years away. Hopefully we will be able to get together a bit more in 2023 so keep an eye out for invitations.
I did want to highlight some changes to access to really excellent content for 2023 that comes with your membership, as part of a wider initiative to support members with their lifelong learning, from January 2023 your ICAEW membership will include access to the content of the Audit and Assurance Faculty, Financial Reporting Faculty and Tax Faculty, and all ICAEW Communities – find out more – (previously this content was behind a paywall). You can select these when renewing your membership for the year so please note that when you renew for 2023.
As always please reach out to me if there are any matters you wish to discuss, and I hope to see many of you in 2023.
Wishing you and your families warmest wishes for the holiday season,
Richard Nunn
ICAEW Council Member for Canada
Q3 2022
Richard Nunn, BSc, BFP, FCA
Dear fellow Canadian members,
I trust you enjoyed the Canadian summer, this land is so beautiful at this time of year.
There are some items I wanted to highlight for you as noted in the ICAEW annual report.
Record Student intake
As mentioned in Michael Izza’s foreword, 2021 saw a record ACA student intake of 11,049. This marks a huge 18% increase on 2020, and 15% more than our previous global high in 2019.
CIPFA
Looking ahead, ICAEW are in ongoing talks with the Chartered Institute of Public Finance and Accountancy (CIPFA), to explore the potential for working more closely together in the future. The vision driving the discussions is the creation of a single strong federated professional accountancy body with truly global reputation and reach. Please watch this space.
ICAEW – ‘Accountancy Body of the Year’
The 19th PQ Magazine annual awards took place in early May 2022 in London and saw ICAEW winning the Accountancy Body of the Year 2022 award. It is a testament to the institute’s amazing work in diversity, inclusion, sustainability and putting our key stakeholders at the heart of everything we do, and represents and recognises the achievements of everyone here at ICAEW.
Changing CPE requirements
Lastly, as I highlighted in my recent linked in post in the Canadian ICAEW members group there are important changes coming to Continuing Professional Education (CPE) requirements. Please see here for a summary of the changes.
As always please reach out to me if there are any matters you wish to discuss.
Kind regards,
Richard Nunn
ICAEW Council Member for Canada
Q2 2022
Richard Nunn, BSc, BFP, FCA
June is a month of change for the ICAEW leadership - the Presidential year completes at the AGM in early June when Will Brooks steps down and the new President, Julia Penny will take on the mantle.
What always strikes me about all of Presidents I have known is the commitment they have to ICAEW and pride in all the accomplishments of our members wherever they practice around the world. I wanted to take a moment to thank them for volunteering so much of their time and talent to ensuring the continued success of the ICAEW.
As always if there are any matters you would like to discuss, please contact me via LinkedIn or by email.
Richard Nunn
ICAEW Council Member for Canada
Q1 2022
Richard Nunn, BSc, BFP, FCA
Hello to all ICAEW members in Canada,
Hopefully by the time you read this things will be starting to warm up a little. It certainly has been a chilly start to the year in most parts of the country. The ICAEW Council has been busy over the past quarter as it considers and deliberates on recommendations generated from a review of the governance framework and I expect this will absorb a significant portion of the agenda for the coming year as the Council seeks to evaluate its governance practices to ensure they are fit for purpose.
The ICAEW continues to focus on providing relevant content for its members and in the digital age we now embrace I would encourage you to spend some time on the website and reviewing the links in this newsletter to access the deep and high quality resources that our institute has to offer. In particular there are many ICAEW Communities which allow you to connect on specific matters of interest to help advance your practice, business and knowledge.
As always if there are any matters you would like to discuss, please contact me via LinkedIn or by email.
Richard Nunn
ICAEW Council Member for Canada"
Q3 2021
Richard Nunn, BSc, BFP, FCA
Dear fellow Canadian members,
I trust you enjoyed the Canadian summer, this land is so beautiful at this time of year.
There are some items I wanted to highlight for you as noted in the ICAEW annual report. As mentioned in Michael Izza’s foreword, was the record ACA student intake of 11,049. This marks a huge 18% increase on 2020, and 15% more than our previous global high in 2019. Looking ahead, ICAEW are in ongoing talks with the Chartered Institute of Public Finance and Accountancy (CIPFA), to explore the potential for working more closely together in the future. The vision driving the discussions is the creation of a single strong federated professional accountancy body with truly global reputation and reach. Please watch this space.
ICAEW – ‘Accountancy Body of the Year’
The 19th PQ Magazine annual awards took place in early May 2022 in London, and saw ICAEW winning the Accountancy Body of the Year 2022 award. It is a testament to the institute’s amazing work in diversity, inclusion, sustainability and putting our key stakeholders at the heart of everything we do. It represents and recognises the achievements of everyone here at ICAEW and I would like to thank you all in helping us to achieve this award in 2022.’
Lastly, as I highlighted in my recent linked in post in the Canadian ICAEW members group, Click here to join, there are important changes coming to Continuing Professional Education (CPE) requirements. Please see a summary of the changes.
ICAEW council
Meet your ICAEW team
Canada also has a network of contact members, who are points of contact for members' enquiries on living and working in Canada.
Helen is the ICAEW Member Engagement Manager for Australasia and North America and is ICAEW's main point of contact for members who are based in North America or Australasia.
Richard has over thirty years of experience focused in the financial services industry. He currently leads the Deloitte Canadian Financial Services Audit Assurance practice.