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Lord McFall takes role at Icas

Lord John McFall has been appointed a public interest member on the Council of Icas, the professional body of chartered accountants, chief executive Anton Colella has announced.

“Lord McFall is a man of the utmost integrity and is held in the highest regard for his many years of service to politics and public life, where he has put the interests of ordinary people first,” he said.

A former chairman of the Treasury select committee, Lord McFall will join other council members tasked with upholding the integrity, standing and standards of the chartered accountancy profession.

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Under his tenure, the committee conducted inquiries into the banking crisis, highlighting the bonus culture, lack of banking qualifications among top bankers and the poor oversight of the former FSA.

Lord McFall was made a peer in 2010, after 23 years as Labour MP for Dumbarton and then West Dunbartonshire.

He 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.

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Neil Liversidge, director of Yorkshire-based West Riding Personal Financial Solutions, said: “Lord McFall did sterling work in his time and always struck me as a very honest and decent professional. This is an excellent selection and I am sure he will make a great contribution in this role.”