ANNUAL REPORT AND ACCOUNTS 2010 - ICAEW

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FINANCIAL STATEMENTYEAR ENDED 31 DECEMBER 2010Note 2010 2009 restated£000 £000IncomeFaculty subscriptions 632 695Events income 41 20Sponsorship and advertising 47 47Interest on funds held 5 25Miscellaneous income 1 –Total Income 726 787ExpenditureEmployment costs 365 367Events, conferences, roadshows 47 41Newsletter, publications, mailings 251 266Marketing and PR 11 2Travel and subsistence 4 2Internal recharges 117 164VAT 8 6Miscellaneous 2 3Defrayment of costs by ICAEW for faculty activities which benefitall ICAEW members(210) (201)Total Expenditure 595 650Surplus for the year 131 137Share of IAS19 actuarial gain/(loss) 1 39 (64)Surplus brought forward from previous year 483 410Surplus carried forward 653 483Carolyn BreshChairmanThe presentation of the financial statements has been revised to reflect the income and expenditure more accurately. 2009 figures have beenre-analysed in line with this presentation, this has no impact on the reported result.Note 1 Under International Financial Reporting Standards, ICAEW is required to recognise the surplus on its defined benefit pension scheme infull. The faculty’s share of the 2010 actuarial gain was £39k (2009: loss of £64k).ACCOUNTANTS’ REPORT TO MEMBERS OF THE FINANCE AND MANAGEMENT FACULTYWe have examined the financial information for the year ended 31 December 2010 set out above and tested, on a sample basis, items ofincome and expenditure shown therein.This financial information has been properly extracted from the books and records of ICAEW, of which we are auditors and on whose financialstatements we have issued an unqualified audit opinion on 15 March 2011.Grant Thornton UK LLPChartered Accountants and Registered AuditorLondon6 Finance & Management Faculty Annual Report And Accounts 2010
COMMITTEE AND OTHER GROUP MEMBERSHIP(AS AT 31 JANUARY 2011)FACULTY COMMITTEECAROLYN BRESH, EVERYMIND (CHAIR)TONY POWELL, CONSULTANT (DEPUTY-CHAIR)PAUL CHAN, CONSULTANTJOHN FERGUSON, CHARITY TRUSTEEDANIEL HOLDEN, SECURE TRADING LTDHELEN JESSON, PITNEY BOWES INTERNATIONALSIMON JONES, BTLEONARD JONES, PRACTICAL CAR AND VAN RENTALPROFESSOR BOB SCAPENS, MANCHESTER BUSINESS SCHOOLJUDITH SHACKLETON, TELECITYGROUPDR PHILIP SMITH, TURNAROUND PROFESSIONAL (C)*PATRICIA SPREULL, PENSION TRUSTEE DIRECTORHELEN STEVENS, INSEAD ALUMNI ASSOCIATIONMICHAELA TALBOT, DAXBOURNE INTERNATIONAL LTDJONATHAN TELLER, CONSULTANT (C)ROB THOMPSON, RBSNICOLA VEALL, FSA(C) Member of council* Faculty representative on councilFACULTY STAFFCHRIS JACKSON, HEAD OF FACULTYchris.jackson@icaew.comPublicationsEMMA RIDDELL, TECHNICAL MANAGERemma.riddell@icaew.comThought leadershipRICK PAYNE, FINANCE DIRECTION PROGRAMMErick.payne@icaew.comMembership and eventsCAROLINE WIGHAM, SERVICES MANAGERcaroline.wigham@icaew.com(maternity leave)AUDE BEZLER, SERVICES MANAGERaude.bezler@icaew.comFinance & Management Faculty Annual Report And Accounts 20107
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ANNUAL REPORT AND ACCOUNTS 2010 - ICAEW

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