Following a comprehensive review launched in 2020, the Institute is taking actions in line with its recommendations to modernise and strengthen ICAEW’s governance.

One of the first steps was the appointment of Peter Wyman CBE, as ICAEW’s first independent Chair of the Board in October 2023, and now the Institute is looking to reshape its Board.

ICAEW is looking for up to six new independent non-executive members of the Board, including the key roles of: 

• Chair of the Risk Committee;
• Chair of the Audit Committee; and 
• Chair of the Investment Committee.

Applicants must be members of the Institute with leadership experience, bold ideas and lots of enthusiasm, confirms Wyman, who is overseeing the changes to the composition of the Board.

“We are looking for a blend of skills and experiences across several critical Board leadership roles, but common across them is the need for people with the drive to step up to the challenge and enormous opportunity of leading the global accountancy profession over the next decade,” he says.

“These roles will be filled by chartered accountants who are energised by the possibilities of leading our globally renowned brand … with the experience and character to support and constructively challenge the executive leadership of ICAEW.”

The new Board members will replace the positions currently held by three elected ICAEW Council members and three department board chairs. To avoid any possible conflicts of interest, no Board member – bar the President – may also be a member of Council for the duration of their time in office.

The changes will also see the number of lay Board members increase from two to three to bring in more outside perspectives and further boost transparency. All Board members will be remunerated.

The reconstituted Board will be responsible for leading the profession forward and contributing to an ambitious vision for ICAEW’s future beyond 2030. “They will be helping our leadership to create the conditions whereby we can continue to justify the deep trust that society places in our profession,” says Wyman.

“If you are excited by the prospect of leading the ICAEW in the pursuit of its vision – a world of sustainable economies – and the above description of the kind of leader we are seeking appeals to you, we would love to hear from you.”

The recruitment process for the new Board members is being managed by an external agency, Russell Reynolds Associates, and further information about the positions and how to apply is available on rraresponses.com. The deadline for applications is 23:59 on Friday 16 February 2024.

ICAEW hopes to have the six new Board members appointed in time for the June 2024 AGM.