Mark Spofforth has been appointed president of the
Institute of Chartered Accountants in England and
Wales (ICAEW).
He succeeds Clive Parritt and will serve as
ICAEW’s president for a one year term, following his election by
the institute’s council.
Spofforth is a senior partner with Spofforths
in Sussex and has worked as a general practitioner for 30 years. He
has also previously served as deputy chairman of the International
Accounting Education Standards Board.
Speaking at his inaugural lunch at Chartered
Accountants’ Hall in London this week, Spofforth called for the
profession to work harder to increase public trust as the “public’s
confidence in the professions has been reduced”.
“This trend must be reversed…” Spofforth
said.
Responding to the UK Financial Reporting
Council’s Audit Quality Inspections report, which called on firms
to maintain appropriate controls, the president defended the UK
audit profession.
“The role of the regulator is to encourage
confidence; this is not achieved by talking down the work of audit
firms – particularly when the latest Audit Inspection Unit report
shows clear signs of improvement on 2010,” Spofforth remarked.
