ICAS HAS APPOINTED Lord John McFall to its council as a public interest member, following Sir Brian Souter’s nomination as vice president of the institute.
Lord McFall, 70, was made a peer in 2010, following 23 years as a Labour MP for Dumbarton and then West Dunbartonshire.
He is a member of the House of Lords Economic Affairs Committee, focusing on the future of the UK economy, investment in jobs and growth, banking and pensions.
He has also chaired the Workplace Retirement Income Commission, which recently called for a better pensions deal for public sector workers and was a member of the Parliamentary Commission on Banking Standards.
As an MP, Lord McFall earned the monicker as the “scourge” of bankers, when he chaired the influential House of Commons Treasury Committee, which challenged the conduct of bankers and regulators during the global financial crisis.
Lord McFall said: “ICAS has a long and distinguished history in developing the expertise and professionalism of young accountants, who have gone on to excel both nationally and globally.
“As chairman of the House of Commons Treasury Committee and subsequently as a member of the independent Parliamentary Commission on Banking Standards, I have been intimately involved in the drive for enhanced professionalism and a deeper recognition of the interests of wider society.”