Note: The conference took place on 5th November 2025
I recently attended the ICAS annual conference, an exciting future-focused event with real life astronaut Tim Peake along the lineup of speakers!
What relevance do CAs have in a world with AI?
Karen Scholes, ICAS President, tackled this tough question head-on in her opening address:
- AI frees up our time from mundane tasks to allow us to focus on strategic thinking and answering questions that can’t be left to AI. My take – just as the accounting profession evolved with the widespread adoption of calculators, Excel and accounting software, AI is another step in our profession’s story.
- CAs are champions of sustainability. Not just in respect of the environment, also ensuring business decisions are sustainable for the long term health of the organisations and stakeholders the relate to through more effective planning, analysis and innovation.
- CAs provide ethical leadership, with ICAS as a profession body being an early adopter and trendsetter. We have the unique ability to shape change that’s good for the balance sheet, the planet and wider society, and will apply this to the adoption of AI.
The role of CAs in integrating AI into organisations – Temi Labor CA
Governance and ethics is fundamental to any organisation, further intensified by adding AI into the mix. Good governance can’t appear by accident, it must be deliberately designed.
It is important for organisation to have an AI charter, which outlines who is accountable for AI, how risks are managed and oversight, as well as directing employees as to how they can and can’t use AI.
This must be reinforced by a strong tone at the top and a clear vision to create a culture of responsible AI use. Giving employees a clear checklist of steps and approvals prior to implementation can provide
A free flowing conversation on the economy with Paul Johnson CBE and Dharshini David
Paul Johnson provided an uncensored take on the state of the economy and the budget (which at the time of the conference had not yet been released).
Paul expressed that there is no magic bullet for fixing the economy, and a long-term strategy is desperately needed, which has been notably absent for a long time due to it being politically challenging:
- Tax: A reduction in stamp duty and VAT, with a widened tax base
- Spending: A focus on high return investment to stimulate growth, at the expense of lower return green-appearing investments currently prioritised
A reality-check on the state of the economy:
The world economy has been remarkably buoyant, with no unexpected and unusual negative events, which is in contrast to the story Reeves told about unanticipated happenings. Real wages have risen in the UK in the past year for the first time in a while.
The UK’s finances face pressure over the prevalence of ‘sick note Britain’, more resources are needed to support people into work. The UK has double the proportion of people on disability and incapacity benefits to similar economies. There has been an uptick in the UK not seen elsewhere, partly driven by the move to assess people online as opposed to in-person and clamping down on other types of benefits. A further point of note is the system was designed to cope with physical illness, and is unsuitable for mental health challenges.