Nothing succeeds like succession
Supporting the next generation of talented CAs isn’t simply an act of charity – it can also be key to ensuring the future of your firm
On Friday 26 September, we welcome the newest cohort of ICAS students at our induction ceremony, held in the Edinburgh International Conference Centre. It is the second year that we’ve done this, after 2024’s inaugural event proved a huge success.
When I became an ICAS student, every one of my peers had a university degree and most had studied accounting. Today’s new students are a far more diverse group. Among them are graduates in a wide range of subjects, school leavers, those from the Robert Gordon University graduate apprenticeship scheme, and students supported by the ICAS Foundation who might otherwise have been unable to afford higher education.
Creating multiple pathways into the CA profession matters for two reasons: to secure a steady supply of future CAs and to ensure the profession remains open to people from all walks of life. Across the sector, we recognise the importance of social mobility and the role we must play in opening doors for people from less advantaged backgrounds.
On this measure, we compare particularly well with other white-collar professions. That includes member donations to the ICAS Foundation, support that has helped 363 students since it began in 2014, of whom 100 have started training contracts and 39 are qualified CAs. And it goes beyond financial aid. Take Chloe Hastie, an ICAS Foundation student who features in this issue speaking about the enormous value of having a mentor .
“Mentoring is a two-way exchange: you support someone at the start of their career, and are rewarded by seeing them grow, while also gaining valuable insight into the next generation”
Many of us will remember the difficulty of juggling exams and work. Some trainees never got their CA qualification, but might have done had they received guidance from someone who had been through the same process and was now able to offer words of encouragement and advice.
That’s why I urge members to consider becoming a mentor. It’s a two-way exchange: you support someone at the start of their career, and in return are rewarded by seeing them grow and succeed, while also gaining valuable insight into the hopes and views of the next generation.
In a future issue of CA magazine, we’ll share some of the many success stories made possible through the ICAS Foundation. Anyone who has worked with one of their students will testify to their calibre.
In the past year, several firms have partnered with the foundation to support places on its programme, encouraging mentoring and improving access to professional opportunities such as internships for foundation students.
Firms such as Johnston Carmichael, AAB and Consilium CA are pioneering this way of working, coaching other foundation students in skills such as public speaking and interview technique. The benefits are mutual: the next generation of CAs get to broaden their skillset, the firms strengthen their talent pipeline.
The inaugural student induction day
The inaugural student induction day
In this issue we also expand on a topic I highlighted in my previous column – the growth of private equity investment in the sector. One of the key reasons why some small firms have decided either to sell or become part of a bigger operation is the challenge of succession planning.
With this partly in mind, there’s another route worth knowing. ACCA members who are registered as an RI with ICAS can join the institute without additional assessment. Other ACCA members may also be eligible to complete an accelerated pathway to ICAS membership.
We’ve seen this pathway in action at my firm, Scholes Chartered Accountants, and I can speak from firsthand experience of its value. It’s another way for small firms to ensure they can continue to thrive when the principal steps down, and it’s one that I wholeheartedly recommend.
Learn more about mentoring at ICAS
Nothing succeeds like succession
Supporting the next generation of talented CAs isn’t simply an act of charity – it can also be key to ensuring the future of your firm
On Friday 26 September, we welcome the newest cohort of ICAS students at our induction ceremony, held in the Edinburgh International Conference Centre. It is the second year that we’ve done this, after 2024’s inaugural event proved a huge success.
When I became an ICAS student, every one of my peers had a university degree and most had studied accounting. Today’s new students are a far more diverse group. Among them are graduates in a wide range of subjects, school leavers, those from the Robert Gordon University graduate apprenticeship scheme, and students supported by the ICAS Foundation who might otherwise have been unable to afford higher education.
Creating multiple pathways into the CA profession matters for two reasons: to secure a steady supply of future CAs and to ensure the profession remains open to people from all walks of life. Across the sector, we recognise the importance of social mobility and the role we must play in opening doors for people from less advantaged backgrounds.
On this measure, we compare particularly well with other white-collar professions. That includes member donations to the ICAS Foundation, support that has helped 363 students since it began in 2014, of whom 100 have started training contracts and 39 are qualified CAs. And it goes beyond financial aid. Take Chloe Hastie, an ICAS Foundation student who features in this issue speaking about the enormous value of having a mentor .
“Mentoring is a two-way exchange: you support someone at the start of their career, and are rewarded by seeing them grow, while also gaining valuable insight into the next generation”
Many of us will remember the difficulty of juggling exams and work. Some trainees never got their CA qualification, but might have done had they received guidance from someone who had been through the same process and was now able to offer words of encouragement and advice.
That’s why I urge members to consider becoming a mentor. It’s a two-way exchange: you support someone at the start of their career, and in return are rewarded by seeing them grow and succeed, while also gaining valuable insight into the hopes and views of the next generation.
In a future issue of CA magazine, we’ll share some of the many success stories made possible through the ICAS Foundation. Anyone who has worked with one of their students will testify to their calibre.
In the past year, several firms have partnered with the foundation to support places on its programme, encouraging mentoring and improving access to professional opportunities such as internships for foundation students.
Firms such as Johnston Carmichael, AAB and Consilium CA are pioneering this way of working, coaching other foundation students in skills such as public speaking and interview technique. The benefits are mutual: the next generation of CAs get to broaden their skillset, the firms strengthen their talent pipeline.
The inaugural student induction day
The inaugural student induction day
In this issue we also expand on a topic I highlighted in my previous column – the growth of private equity investment in the sector. One of the key reasons why some small firms have decided either to sell or become part of a bigger operation is the challenge of succession planning.
With this partly in mind, there’s another route worth knowing. ACCA members who are registered as an RI with ICAS can join the institute without additional assessment. Other ACCA members may also be eligible to complete an accelerated pathway to ICAS membership.
We’ve seen this pathway in action at my firm, Scholes Chartered Accountants, and I can speak from firsthand experience of its value. It’s another way for small firms to ensure they can continue to thrive when the principal steps down, and it’s one that I wholeheartedly recommend.
Learn more about mentoring at ICAS
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