The Institute of Chartered Accountants of Scotland (ICAS) has formally admitted more than 770 newly qualified chartered accountants (CAs) at its latest annual ceremony in Edinburgh.

In a statement, the ICAS said that the event also marked a “social mobility” milestone, noting that the ICAS Foundation has helped “more than 50 young people from low-income households” achieve their CA qualification.

The ICAS Foundation, launched in 2014, offers financial support, mentoring and structured career guidance to students during their university studies.

Its aim is to help participants secure graduate roles and move into chartered accountancy training through the ICAS route.

ICAS Foundation managing director Sanjay Singh said: “This milestone is evidence of what can happen when talented individuals are given the opportunity and tools to succeed, regardless of their background.

“We are now seeing our alumni progress into promoted roles, feature on industry rising star lists, contribute to ICAS committees, and act as mentors and ambassadors for the next generation.”

According to the ICAS, 219 students have now completed the Foundation’s Nurturing Talent scheme. Of these, 110 have started ICAS training contracts and 52 have qualified as CAs, including 13 admitted at this year’s event.

ICAS CEO Gail Boag added: “The CA qualification opens doors far beyond traditional accounting roles and serves as a passport to business and finance.

“With 86% of FTSE 100 companies employing ICAS members in senior positions, our graduates join a global community who are shaping organisations as the ethical leaders of tomorrow.”

Last month, the ICAS introduced a new professional designation in response to growing global demand for skills in accounting, finance and business.

The Accounting and Business Professional is the third designation to be created by the institute in its 172-year history.