The professional body Chartered Accountants of
Ireland (CAI) has elected John Hannaway as president.

Hannaway is a partner at PwC Belfast and
succeeds Paul O’Connor as the 84th president of CAI.

Austin Slattery has also been appointed deputy
president and Brendan Lenihan as vice president.

Hannaway said he is committed to his five-year
plan to revitalise the profession and its clients.

“We must rebuild our reputation, ensure the
highest levels of corporate governance for business, be fearless in
leading the debate on regulation and accountability and become even
more engaged with the communities we serve,” he said.

Hannaway said that Irish banks must be fixed
and “we must regulate to ensure there can never be a recurrence;
and we must ensure a return to prudent lending policies that inject
much needed risk finance into the economy”.