Ms Scholes is the partner director of Scholes CA, an independent accountancy firm with a strong focus on sustainability and entrepreneurship. She was formally confirmed as President at the ICAS Annual General Meeting on Friday 25 April 2025, succeeding Alison Cornwell CA, former CFO of Vue International.

Hailing from Orkney, Ms Scholes began her career in the family firm, AJB Scholes, founded by her late father. She initially ran the practice as the sole practitioner in the firm until it was incorporated in 2008. Today, Scholes CA has grown into a thriving firm with 36 staff across offices in Kirkwall, Edinburgh and Aberdeen.

Ms Scholes previously held the role of Vice President of ICAS in 2023, and Deputy President in 2024. Supporting her during her term are David Cruickshank CA, who has been appointed as Deputy President of ICAS, and Jonny Jacobs CA, newly appointed Vice President.

Commenting on her appointment, Ms Scholes said: “It’s a tremendous honour to be appointed President of the world’s oldest professional accountancy body – an organisation that has supported and shaped my career. While ICAS has a proud and storied history, my focus during my term in office will firmly be on the future.

“Our globally respected Chartered Accountant (CA) qualification continues to open doors to rewarding careers in business, finance, and beyond. Yet, with only around 20 per cent of professionals in fields like accountancy coming from working-class backgrounds, it’s clear there’s more to do.”

She continued: “The ICAS Foundation is leading the way in closing this gap by supporting young people from low-income backgrounds to access careers in accountancy and finance. And as part of my role as ICAS President, I’m committed to supporting the ongoing work to inspire the next generation and drive greater access to the profession for talented individuals from every walk of life.

“I also want to highlight the flexibility and employer-friendly nature of the ICAS CA training model. It offers an accessible, cost-effective way for organisations of all sizes to nurture and attract top-tier business talent.

“Looking ahead, I’ll be leading an important conversation on the evolving role of the Chartered Accountant, taking a forward-looking approach to how our profession can harness emerging technologies like AI, and help shape the sustainable, resilient economies of the future.”

Bruce Cartwright CA, ICAS Chief Executive, added: “Karen brings a wealth of experience to ICAS from her thirty-year career in practice and directing her own successful business.

“Like many CAs, she’s devoted her career to nurturing, advising and supporting the type of SME clients that make up thriving local economies the length and breadth of the UK.

“She’s also devoted a great deal of time and expertise to ICAS over the years, through her invaluable contributions to our Council and Practice Board. Her enthusiasm and understanding of the value of ICAS membership and the CA qualification is of huge value to our efforts to grow the profession and inspire the next generation of CA students.

“I would also like to congratulate David Cruickshank CA and Jonny Jacobs CA who have been appointed as our new Deputy President and Vice President.”

David Cruickshank CA, ICAS Deputy President, added: “I’m honoured to take on the role of ICAS’ Deputy President and to work alongside Karen, our President, and Jonny, our Vice President.

“The ICAS qualification has afforded me so many opportunities throughout my career and I’d like to pay that forward to the next generation of members and potential members from all backgrounds. Our Institute is as valuable and relevant today as it’s ever been, and I want to make sure that all our members benefit from it to the greatest extent possible.”

Jonny Jacobs CA, ICAS Vice President, added: “Being appointed ICAS Vice President holds both personal and professional significance for me.

“Coming from a working-class background and being the first in my family to attend university, the journey hasn’t always been easy. This role offers a unique platform to help shape the future of our profession, by collaborating with fellow finance leaders to drive meaningful change within the industry and across the broader accounting and finance landscape. Most importantly, it’s a privilege to give back to a membership which has supported me so well throughout my career.”