Worshipful Company of Chartered Accountants in England and Wales

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Worshipful Company of Chartered Accountants in England and Wales
Worshipful Company of Chartered Accountants Coat of Arms.jpg
The Accountants' Company Coat of Arms
MottoTrue and Fair
LocationCity of London, England
Date of formation1977;47 years ago (1977)
Company associationAccountancy
Order of precedence86th
Master of companyKevin Parry OBE
Website accountantslivery.org

The Worshipful Company of Chartered Accountants in England and Wales is one of the livery companies of the City of London. They were one of the earliest of the modern livery companies promoted by the Court of Aldermen from the 1970s, receiving a Grant of Letters Patent (i.e. converting from an unincorporated Guild to a livery company) in 1977 and receiving a Royal Charter in 2012. The Company is complementary to, and supported by, the Institute of Chartered Accountants. It promotes "honourable practice" of accounting and awards prizes to students in the field. It also supports general charities. The company ranks eighty-sixth in the order of precedence for livery companies. [1] Its motto is True and Fair.

Contents

Founding

Formal letters patent for the creation of the livery company were presented on 25 July 1977 by the lord mayor of London. [1] Its first master was James M. Keith, member of the city's Court of Common Council and chief commoner for 1976–1977. [1]

It was one of several companies formed in the 1970s, when concerns were raised that existing livery companies had few connections to the modern financial services industry in London. [2]

Charitable activities

The charitable arm of the Company made over 40 grants to deserving causes in 2022-23 [3] . These include:

In 1992, the Worshipful Company of Chartered Accountants in England and Wales launched "Chartered Accountants in the Community", a programme which placed senior accountants onto the management committees of charities. [9] The scheme aimed to place 20 to 30 attachments a year, with a focus on providing advice and professional expertise to charities, rather than day-to-day bookkeeping. [9] The livery company had previously focused on making donations to support overseas training and rewarding student achievement. [9]

As of December 1992, the company had 100 members. [9] At the time, former master Richard Wilkes told the Financial Times, "We do not have a large endowment. Instead of money, we've got talent." [9]

Dinners

In July 2021, The Telegraph reported that up to a dozen business leaders were boycotting a dinner banquet at Mansion House hosted by the Worshipful Company of Chartered Accountants, because guests were being required to wear face masks and use NHS Test and Trace QR codes to enter the event. [10]

Financial Services Group of Livery Companies

The company is a member of the Financial Services Group of Livery Companies, the other 11 members of which are the Worshipful Companies of Actuaries, Arbitrators, International Bankers, Chartered Secretaries and Administrators, Insurers, Information Technologists, City of London Solicitors, Management Consultants, Marketors, Tax Advisers, and World Traders.

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References

  1. 1 2 3 "Chartered Accountants Livery Company". The Accountant. 176 (5341): 623. 26 May 1977.
  2. ↑ Peyton, Jane (2012). Brilliant Britain: A celebration of its unique traditions and customs. Chichester: Summersdale. p. 210. ISBN   9781849533096.
  3. ↑ "CALC Impact Report April 2024" (PDF). Accountants Livery. The Chartered Accountants' Livery Charity. Retrieved 9 June 2024.
  4. ↑ "Mansion House Scholarship Scheme Report and Financial Statements for the year ended 31st October 2023". Charity Commission Register of Charities. City of London. p. 10. Retrieved 9 June 2024.
  5. ↑ Proietti, Cristina (6 March 2024). "Lord Mayor launches Livery Food Initiative food rescue truck". City Harvest. Retrieved 9 June 2024.
  6. ↑ "ANNUAL REPORT & ACCOUNTS for the year ending 31 March 2022" (PDF). The Queen’s Commonwealth Trust. p. 44.
  7. ↑ "GASP Motor Project: Report and Financial Statements for the year ended 31 August 2023". Charity Commission Register of Charities. p. 18. Retrieved 9 June 2024.
  8. ↑ "Financial Smarties". www.actionfunder.org. Retrieved 9 June 2024.
  9. 1 2 3 4 5 Jack, Andrew (18 December 1992). "Where charity does not begin or end at home". Financial Times . p. 9. Retrieved 2 June 2022– via Internet Archive.
  10. ↑ Hope, Christopher (19 July 2021). "Business leaders boycott Mansion House banquet in protest at 'overzealous' Covid rules". The Telegraph. ProQuest   2553214702 . Retrieved 2 June 2022– via ProQuest.


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