A Chartered Accountant and internationally distinguished academic, it honours his services to the college and his outstanding contribution to accounting education.

Professor Allison volunteered at the college as a chair of the college’s Finance, Audit and Risk Committee in 2014. In 2021, he also became the first ever Lay Trustee of College.

Reflecting on the honorary fellowship, he said: “It has been a great honour to work alongside so many volunteer clinicians balancing their medical priorities with the governance of the college.

“Management of a charity with over 425 years of history is on occasion not easy, and the volunteers have been fortunate to have such a dedicated team on the college staff to ensure that the strategy and objectives set by the Trustees are met.

“The last 10 years, helping in a small way with audit, risk, finance and charity governance at the college, have been some of the most fulfilling parts of my career. I would encourage all members of college, and others from a lay person perspective, to consider giving their time to help with the next period of the history of the college.”

The award was presented by college president Mike McKirdy who said: “I can say on behalf of the college community that we are incredibly grateful for the time and dedication Professor Allison has given us over the last 10 years.

“Although he will come to the end of his term as a Lay Trustee later this year, he will remain a valued friend to the college, and I’m delighted to have worked alongside him on Council. He has always shown a great appreciation for the work of charitable organisations, including our own, and we wish him all the best for the future.”

Born and raised in Dumfries, Professor Allison gained an MA joint honours in Economics and Accounting from the University of Edinburgh. Following his studies, he joined KPMG and qualified as a CA whilst working as an auditor on a cross section of large audit assignments, including a secondment to Lloyds.

He joined the Institute of Charted Accountants of Scotland (ICAS) in 1988, becoming director of student education and later executive director of education in 1998. During this time, he led the CA education programme and carried out commercial and regulatory work in over 40 countries.

His international work included running projects to improve accounting and audit education. In 2000, he moved into reciprocity and recognition, which saw the CA qualification formally recognised across the globe and, uniquely, in the United States.

Professor Allison has spent time as a technical advisor and chair of the International Accounting Education Standards Board. Here, he led the development and issued the first set of international standards, regulating the education of over 2.5m accountants worldwide. He has continued to teach and examine and has been a Visiting Professor at Robert Gordon University in Aberdeen since 2004.

The award was presented at a diploma ceremony held in the Royal College last night which welcomes and celebrates the achievements of physicians, surgeons, dentists, travel and podiatric medical professionals.