Shropshire accountant takes reins of industry body
A Shropshire businessman has taken over the presidency of a society which represents more than 1,800 accountants in the region.
Phil Wood, managing director of Barringtons Chartered Accountants in Newport and Market Drayton, has been appointed president of the Staffs, Salop & Wolverhampton District Society Institute of Chartered Accountants in England & Wales of the (ICAEW).
Established by Royal Charter in 1880, ICAEW provides members with knowledge and guidance, and ensures ICAEW Chartered Accountants meet the ethical and technical standards.
Mr Wood, who takes over from Shaun Philpott of Copia Wealth and Tax in Wolverhampton, said: “As financial specialists ICAEW members act in the public interest offering insights into business and the economy.
“Our branch includes more than 1,800 chartered accountants who not only provide technically-efficient services, but help clients and businesses stay on the right side of changes in the law such as the Making Tax Digital Strategy soon to be introduced by HMRC.
“Although the intervention of the General Election has taken the immediacy of this off the table, it will inevitably happen and will require businesses to keep digital tax accounts and update HMRC at least quarterly."
Mr Wood, an accountant since 1979, was a founding partner of Barringtons Chartered Accountants in 1983 and is a long-standing member and patron of the Shropshire Chamber of Commerce.
