ICAEW Members In Scotland (IMS) Annual Report 2016/17

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ICAEW Members in Scotland (IMS)Annual Report 2016/17It has been a busy year for IMS. You can see in the appendix the long list of events thathave taken place. Our members typically ask us to create opportunities for networking and toorganise events across Scotland. Hopefully we have achieved this and there will be more tocome in 2017/18. I would like to thank all of you who have attended events over the last yearfor helping to make them a success and, in particular, I would like to thank all our memberswho have been involved in organising these events.One of my personal objectives when I joined the committee in 2014 was to build closer linksbetween IMS, schools and universities. It has therefore been very pleasing to see the growthof our involvement in the BASE Business Challenge. BASE is ICAEW’s National Businessand Accounting competition for students in school or college aged 16-19. Students are ableto engage in a business challenge – based on an actual ACA exam case study – thatenables them to develop key employability skills and understand what it’s like to be anICAEW Chartered Accountant. From an initial trial in Edinburgh in 2014 we have grown tothree events in 2016, with heats taking place in Edinburgh, Glasgow and Aberdeen and 26teams and over 150 students taking part. The winners will now move on to the National Finalin Birmingham in June 2017. BASE is a very positive way of introducing school students toICAEW and the world of business and accountancy. The events are full of energy and ideas,and receive very positive feedback from both students and teachers alike. They also dependon support from our members acting as team mentors and judges. I would therefore like tothank everyone who has been involved in making these events such a success and, inparticular, Alice Wallace who has led the working group which implemented this initiative inScotland.Recently the committee has been discussing the need for better, practical financialeducation in schools and how ICAEW Members in Scotland might be involved in this. JohnPoole has been exploring this idea in some detail both inside and outside ICAEW and Ianticipate there will be some activity in this area in the coming months.Looking back over the last twelve months there have been three events that particularlystood out for me. Firstly the annual dinner at the Corinthian Club in Glasgow was athoroughly enjoyable evening. Members had the opportunity to meet ICAEW PresidentHilary Lindsay as well as hear about leadership and values from former Scotland Rugbycaptain, Al Kellock. There was a good turnout from our student members and the eveningwas also an opportunity celebrate their recent exam successes with Matthew Hollandreceiving the ICAEW Scotland Trainee Chartered Accountant of the Year Award 2016.The second event was dinner with a group of Members of the Scottish Parliament. Sixmembers of IMS met with three current MSPs to give our views on the current state of theeconomy in our own sectors. It was also an opportunity to introduce them to the ICAEW’squarterly Business Confidence Monitor (BCM), which certainly seemed of interest to them.The BCM is very effective at raising our profile in Scotland, particularly when the news is notpositive! The MSPs left with a very clear idea of the issues faced by our members and the

importance of our profession in helping businesses deal with an uncertain businessenvironment.The final event was the Christmas networking event at the Royal Scots Club where we heardabout the UN’s 17 Sustainable Development Goals. We have subsequently discussed theseat a committee meeting and felt that many of our events are already linked to at least one ofthese goals and we would continue to bear the goals in mind as we develop new ideas.For the first time in 2016/17 the IMS Committee has had a full complement of members. Itwas also pleasing to note that the committee is a reasonable reflection of the membership(see the following charts) although with perhaps a slight imbalance in the gender ratio.

Four members of the committee (Paul Adderley, John Fanning, Ian Hartley and AnnaMcGinley) will be standing down at the AGM and I would like to thank them all for theircontributions over the years. I would particularly like to mention the two former presidents.John Fanning has been on the committee since 2004 and was president between 2006 and2008. As one of the longest serving members of the committee he has made a significantcontribution to the growth and development of IMS from its early days. Paul Adderley is theimmediate Past President having joined the committee in 2008 and held the office between2013 and 2015. It was his enthusiasm for IMS that persuaded me to join and his legacy isour involvement in many areas of sustainability. Their valuable contributions in committeemeetings will be missed although I know they will continue to support the activities of IMSand we will keep in touch in other ways.I would also like to thank Melanie Wilson, who has not sought re-election, although mayseek co-option to the committee. Melanie is another long serving member who joined thecommittee in 2004, serving as secretary from 2005-6 and as president for three years from2008 to 2011.Finally, I would also like to thank the following individuals without whose support IMS wouldnot function: Linda Bruce, Political Consultant; Keith Proudfoot, Regional Director; AlisonTait, Regional Events Coordinator; Jane Walker, Regional Communications Consultant; and,in particular, Fiona Ormiston, Regional Executive, who makes the role of President a loteasier than it might otherwise be.Andrew HewettPresident, ICAEW Members in Scotland (IMS)April 2017

APPENDIX: Events delivered in 2016-17DateEventLocationUN DevelopmentGoal20 AprAnnual General Meeting & member talk ‘Bill walked500 miles (with his wee dug!)’Edinburgh320 AprCharity quiz challengeEdinburgh328 AprEdinburgh Tax Network: Fiscal FeastEdinburgh1610 MayIMS Edinburgh Finance Directors’ Forum: MitigatingFinancial Risk Supported by JC RathboneEdinburgh8, 9, 1618 MayThe Biz Expos: With IMS BAS member businesssupportEdinburgh8, 923 MayProfessional Bodies Forum in Scotland: Diversity ofleadership does it matter? Hosted by Law Society ofScotlandEdinburgh5, 162 JunBusiness confidence & economic review roundtable inpartnership with the Bank of England Hosted byUniversity of DundeeDundee2 JunEdinburgh Tax Network: Passing down the familybusiness – IHT and successionEdinburgh16 JunScottish Accountancy and Finance Awards ICAEWsponsorship and hosted guestsGlasgow25 JunIMS Munro Walk: SchiehallionLoch Tummel330 JunEdinburgh Tax Network: Pensions update for taxprofessionalsEdinburgh1618 AugIMS public sector interest roundtable with ICAEWDirector Public Sector Hosted by Hymans RobertsonEdinburgh9, 1626 AugBusiness Confidence Monitor lunch: Economicupdates in the age of disruption Hosted by PwCEdinburgh8, 9, 166 SepIMS Glasgow Finance Directors’ Forum: Cybersecurity Hosted by MMSGlasgow8, 9, 1614 SepEdinburgh Tax Network: HMRC joint discussionEdinburgh1627 SepBusiness Confidence Monitor (BCM) Lunch androundtable discussion with IMS members in InvernessInverness8, 9, 1628 SepBusiness confidence & economic review roundtablewith the Bank of England Hosted by Campbell DallasAberdeen8, 9, 1629 SeptEdinburgh Tax Network: Postponing / Avoiding IHTand CGT on Liferent TrustsEdinburgh8, 9, 1629 SepIMS Dinner: Sporting values and business ethics Supported by CABAGlasgow8, 9, 16164, 1616

7-8 OctIMS & Northern Region Practical Tax ConferenceGlasgow1627 OctEdinburgh Tax Network: Tax implications of BrexitEdinburgh1628 OctIMS Retired Members’ Lunch and Tour of GlasgowTrades Hall Supported by CABAGlasgow39 NovICAEW Business Accounting Skills Education (BASE)competitionAberdeen4, 5, 8, 910-11 NovNew Start Scotland Exhibition: Exhibition includedICAEW BAS stand and workshopsGlasgow8, 910 NovMSP Politicians dinnerEdinburgh8, 9, 1615 NovThe Intellectual Property Office on The Value Within Organised by IPO in partnership with ICAEW, ACCAand CIMA in Scotland Hosted by IoD ScotlandEdinburgh8, 9, 1617 NovEdinburgh Tax Network: An address by the Rt. Hon.Lord Drummond YoungEdinburgh1622 NovBusiness confidence & economic review roundtable inpartnership with Bank of England Hosted by BrewinDolphinEdinburgh8, 9, 1624 NovEdinburgh Tax Network: Tax and LegitimateExpectationsEdinburgh1624 NovICAEW Business Accounting Skills Education (BASE)competitionGlasgow4, 5, 8, 96 DecICAEW Business Accounting Skills Education (BASE)competitionEdinburgh4, 5, 8, 97 DecIMS festive networking and discussion of UN’s GlobalGoalsEdinburgh1 - 1726 JanEdinburgh Tax Network: Legitimate Expectations andTaxationEdinburgh1623 FebEdinburgh Tax Network: Extraction of FundsEdinburgh167 MarBusiness confidence & economic review roundtable inpartnership with Bank of England Hosted byUniversity of DundeeDundee9 MarIMS Budget BreakfastEdinburgh1610 MarIMS Budget BreakfastGlasgow1621 MarIMS Edinburgh Finance Directors’ Forum:Understanding the benefits of business support fromZero Waste Scotland Hosted by IOMEdinburgh11, 1230 MarEdinburgh Tax Network: Adequate Disclosure andRisk ManagementEdinburgh168, 9, 16

The United Nations 17 Sustainable Development Goals

Edinburgh 16 24 Nov ICAEW Business Accounting Skills Education (BASE) competition Glasgow 4, 5, 8, 9 6 Dec ICAEW Business Accounting Skills Education (BASE) competition Edinburgh 4, 5, 8, 9 7 Dec IMS festive networking and discussion of UN’s Global Goals Edinburgh 1 - 17 26 Jan Ed

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