Since its founding by Royal Charter in 1854, ICAS has played a pivotal role in shaping the global accounting profession, serving its members and upholding its public interest mandate.

From its earliest days, when accounts were completed by candlelight using dip pens, to the modern age of AI and digital transformation, ICAS has been at the forefront of the profession’s evolution. In 1855, it introduced the designatory letters ‘CA’ as a mark of distinction that has become synonymous with trust and excellence in accounting.

Over the decades, ICAS has produced influential reports, such as the seminal 1988 research paper Making Corporate Reports Valuable, which reshaped the landscape of financial reporting. ICAS has evolved into a dynamic global network, connecting a diverse membership of over 24,000 world-class business professionals working in more than 80 countries.

With a new syllabus and way of learning for accountancy students launched in March, 2024 represented a year of change and innovation for ICAS. ‘CA24’ marked a UK first and was one of the biggest shake-ups in the institute’s unique history, ensuring that the CA qualification stays relevant in an evolving business landscape.

ICAS also launched Shaping the Profession this year, a new programme of activity to examine, consider and map out an ambitious future for accountancy. The project aims to define and better understand the societal needs and interests that finance professionals need to fulfil, both now and in the future.

Bruce Cartwright CA, CEO at ICAS, said: “It’s no exaggeration to expect the pace and scale of change over the next five years to be faster than at any time in the last 170.

“While technological advancements, sustainability reporting developments, governance reforms and regulation continue to reshape the profession, our legacy serves as a reminder of the need for resilience and capacity for adaptability.”

To mark its anniversary and inspire the next generation of accountancy professionals, ICAS has launched a nationwide competition asking school children to design the front cover of CA magazine – the monthly digital publication for accountancy and business professionals.

Hundreds of pupils nationwide created artwork reflecting ICAS’ legacy and highlighting themes that are important for creating a better world to grow up in, with the winning entry featured in the magazine’s December issue.