‘We want to make sure members’ voices are heard’

Alex Smith CA and Alan Dunsmore CA discuss the work of the ICAS Business Policy Panel with Fiona Nicolson

‘We want to make sure members’ voices are heard’

Alex Smith CA and Alan Dunsmore CA discuss the work of the ICAS Business Policy Panel with Fiona Nicolson

Nearly two-thirds of working CAs work in business. The ICAS Business Policy Panel is made up of members who either work in audit or advise businesses, from large to small. The panel is just one of the ways by which ICAS develops its positions on business policy and regulatory change – by getting input from experts who see first-hand the real impact that government and regulatory changes can make. The panel reports into the Policy Leadership Board.

Its objectives include creating a positive environment for business and enterprise through better regulation and clear principles, building trust in business and the promotion of sound corporate governance.

Nearly two-thirds of working CAs work in business. The ICAS Business Policy Panel is made up of members who either work in audit or advise businesses, from large to small. The panel is just one of the ways by which ICAS develops its positions on business policy and regulatory change – by getting input from experts who see first-hand the real impact that government and regulatory changes can make. The panel reports into the Policy Leadership Board.

Its objectives include creating a positive environment for business and enterprise through better regulation and clear principles, building trust in business and the promotion of sound corporate governance.

Alex Smith CA

Alex Smith CA is FD of corporate-law firm, Dickson Minto, working in its Edinburgh office. Her remit is broad – she describes it as a combination of COO and CFO, which, as well as finance, encompasses HR, compliance and risk, and more. Smith qualified as a CA in 1999 while working for Coopers & Lybrand (now PwC) in Aberdeen. She is also an ICAS Foundation mentor.  

MILESTONES

1992–96:  Heriot-Watt University
“The decision to study international business and languages was a pivotal point for my career. At PwC, I got involved in projects all over the world, which I really enjoyed.”

2012: Secondment from PwC to the Scottish government
“Working in Aberdeen for PwC meant I had a reasonable knowledge of the energy sector. I was asked to go on secondment to the Scottish government, to join the energy team and help set up a renewable-energy investment fund.”

2013: Group Financial Controller at Forth Ports
“This was a broad role, which enabled me to gain experience of working in the private sector.” 

2021: Joined Dickson Minto as its first FD
“When you’re a young trainee, progressing to the position of FD is one of the goals you strive for. There were limited opportunities for that at Forth Ports, so when I was approached about the job at Dickson Minto, it was the right call at the right time – and it’s a great role.” 

2019: Member of ICAS Business Policy Panel
“My membership of the Business Policy Panel came about through networking. I met the panel’s chair at an event, we got chatting and he asked me if I would be interested in joining. I was drawn by its work because it provides input to ICAS responses to consultations or upcoming technical changes. I was keen to participate.  

“There are nine of us on the Business Policy Panel, and we come from a variety of backgrounds. We look through a business-focused lens at areas where we’ve been asked for input. For instance, we consider how a policy or regulation might impact businesses and whether it is practical or likely to be difficult or costly to implement. We want to make sure that members’ voices are heard. 

“One of the main positive outcomes from membership of the panel is hearing other people’s points of view. They sometimes challenge mine and I always find that rewarding as it means you have to really think about your own opinions. It’s also fascinating to meet other panel members and learn about their work.

“I have worked across a range of different businesses and organisations and hopefully I bring that experience. As I don’t just work in finance, I also think about what we’re discussing from an HR, insurance or risk perspective that may not otherwise be considered.

“I’m one of only two female members of the panel at the moment – and the only one who’s not an ICAS employee – so I would hope that in itself means I sometimes bring a different way of looking at things. I would like to see a bit more diversity in general – not just gender diversity. The more diverse the group of people in the room, the broader the perspectives gained and, ultimately, the input into the decisions being taken.

“From a career-development standpoint, membership of one of ICAS’ many panels or committees demonstrates a breadth of interest in your profession, and in developing your own skills, that goes beyond just doing your job. Certainly, I have found it to be both personally and professionally beneficial.”

Alan Dunsmore CA

Alan Dunsmore CA’s career in accountancy has spanned three different businesses in three different UK cities. He began his training in 1989 at Deloitte (then Deloitte Haskins and Sells) in Glasgow, following his accountancy degree at the University of Glasgow. He qualified in 1992 and continued his career at the same firm for another three years. In 1995, he moved out of practice and into the private sector. He is now semi-retired.

MILESTONES 

1989–95: Deloitte, Glasgow
“When I look back over my career, I recognise just what a good decision it was to become a CA. I had excellent training at Deloitte, which included exposure to a broad range of businesses in Glasgow and beyond, and an insight into how business works from different perspectives. And I got to work with great people. It all provided a fantastic career foundation.”

1995–2010: Smiths Industries (now Smiths Group), London
“My initial role here was as a kind of qualified executive assistant to the Divisional CFO, but there were lots of career opportunities and I progressed to the role of FD of the detection division, one of four in the group. As the company was internationally focused, I travelled extensively, including spending a year in Japan.”

 2010–25: Severfield, York
“I joined Severfield as CFO. It was a difficult time because the global financial crisis was having a growing impact on the UK construction industry. The first three years or so were tough, but from 2013 onwards we were able to grow consistently over the next 11–12 years. I was appointed acting Chief Executive in 2017, which became permanent in 2018.”

2011: Joined ICAS Business Policy Panel
“ICAS is one of the most respected professional accounting bodies in the world and, as a result, it is involved in providing input for draft regulations, rules, governance and policies for the Scottish and UK governments, bodies such as the FRC [Financial Reporting Council] and for international accounting standards. 

“People’s hearts often sink when new rules and regulations come in but they’re a fact of life. Being able to contribute positively to their development, to make sure they retain some degree of balance and recognise business challenges, is very important work.

“Being a member of the panel means having the chance to make a difference beyond your day job, supporting ICAS and providing input. Being able to broaden your perspective is also helpful. I’ve found from the outset of my career that the more you’re able to do this, the more you can develop your skills and contribute to your company.  

“As a member of the panel, you’re exposed to a diverse group of people who do interesting things in their own industry, all coming together with a common cause. Even though we are from different businesses and backgrounds, often with different views, via discussion and debate we are usually able to reach a consensus.  

“At the start of your career, you don’t have any sense of the ‘norm’. While there is no ultimate norm, there are many ways of approaching and dealing with things, which new panel members in the early stages of their working life will have the chance to observe. Having the opportunity to learn from that experience can be enormously valuable.

“Panel meetings are either in person or online, taking place for a few hours three or four times a year. This allows you to carve out the time required, make your contribution and enjoy the benefits of your involvement.” 

Learn more about the ICAS Business Policy Panel