Sustainability ICAS sign up to the Prince of Wales’ new ‘Terra Carta’ initiative

ICAS has become the first accountancy body in the world to sign up to HRH the Prince of Wales’ ‘Terra Carta’ – a charter that aims to put sustainability at the heart of the private sector.

The institute has pledged to support Terra Carta as part of its ambitious strategy to integrate sustainability into all aspects of its operations.

The Prince of Wales said: “The more companies that sign up to the Terra Carta, the greater its capability will be to drive the change we so desperately need. I can only encourage more people to join this urgent call to arms.”

J Bruce Cartwright CA, ICAS Chief Executive, said: “HRH The Prince of Wales has made an extraordinary contribution to sustainability for many years, and it is a privilege to pledge our support to the Terra Carta.

“ICAS has an ambition to put sustainability at the heart of everything that we do – from the education that we provide to our students, to our work with our 22,000 members around the world.

“We also recognise the transformative role that chartered accountants have in delivering the actions of the Terra Carta, to bring about lasting change as we seek to build a more sustainable world.”

ICAEW June professional exam results

Some 6,450 ICAEW trainees sat down for the June 2021 professional exams. In all, 11,524 exams were ‘attempted’, with 4,646 ACA PQs passing all the exams they took.

A total of 1,568 finished their professional level papers this session, and just over half of these PQs (866) did not fail an exam on the way.

Just two ACA trainees took up the challenge of four papers and the outcome wasn’t great – one of them passed one paper! More, 1,098, attempted three papers and 74.5% passed all three. Another 13.5% passed two out of three, and 7.7% one. This left 48 sitters (4.4%) failing all three.

Some 2,516 PQs sat one paper. While 69.2% passed their exam, 775 (30.8%) walked away from the June paper with nothing.

Andrew Dumble was the star for June. He picked up two order of merit prizes. The Morgan Stanley PQ came first in the Business Strategy and Technology and the Business Planning: Banking papers. JUNE 2021 ACA PROFESSIONAL LEVEL EXAM RESULTS: Audit & Assurance 73%; Financial Accounting & Reporting 71.4%; Tax Compliance 80.4%; Business Planning: Taxation 81.1%; Business Planning: Banking 64.6%; Business Planning: Insurance 70.9% Business Strategy & Technology 92.5%; Financial Management 81.6%

Time to slow audit reforms?

The UK government has been told it needs to slow down plans to overhaul the auditing profession.

The Institute of Directors’ Roger Barker said that although the IoD supports the desire of the Government to address recent failings in audit and governance, the effects of the pandemic mean the proposals need to be phased in over a longer timeframe.

Barker stressed: “We are particularly worried about the willingness and capacity of smaller challenger audit firms to take on major audits in partnership with the Big 4.

“This is a step into the unknown for us all, and the concept needs to be properly tested before it is rolled out.”

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