Cohen, 42, is co-founder and CEO of small business accounting specialist Mazuma, and takes over the one-year presidency at a pivotal time for the AAT after it completed a major governance restructure, creating a new leadership board and its first members’ advisory council in the last 12 months.

Her appointment marks a full-circle moment for Cohen, having started her career as an AAT apprentice, before co-founding Mazuma in 2008 at just 23 years old from her spare bedroom. She has built a successful subscription-based accountancy firm, now employing over 50 staff with a seven-figure turnover and more than 10,000 SME clients.

For Cohen, her top two priorities as president will be championing diversity, equity and inclusion as well as support for small businesses, both vital for shaping the future of the accountancy profession.

‘My two priorities are simple. I know what it’s like to start out without connections or a head start,’ said Cohen. ‘The AAT apprenticeship gave me the foundation for everything that followed. It taught me that talent exists everywhere – it just needs the right chance to grow.

‘Every step of the way, AAT has been there, having my back when it counted. Now I want to give back to the professional community that gave me my start.’

A long-time advocate for mental health awareness and equality in accountancy, Cohen received the AAT Past Presidents’ Award in 2021 for her leadership and work to destigmatise mental health in the profession.

‘I’m passionate about promoting equality in our profession and using innovative approaches to make amazing futures accessible for everyone,’ she said. ‘AAT’s role in supporting people from all backgrounds to build sustainable careers and businesses has never been more important and I’m proud to lead that mission.’

AAT CEO Sarah Beale welcomed Cohen’s appointment, said: ‘We’re delighted to welcome Lucy as our new president. Her journey from apprentice to successful business leader is a powerful example of what can be achieved through hard work, resilience and a passion for helping others to succeed.

‘Lucy’s commitment to diversity and small business support reflects the very best of what AAT stands for. I’d also like to congratulate Craig Dyer on his appointment. Together, they bring energy, insight and experience to AAT’s leadership team.’

Beale also paid tribute to her predecessor Michael Steed who completed his one-year term, saying he had made an ‘incredible impact on our community’.

‘He leaves a strong legacy of advancing our member community. Members have always been at the heart of Michael’s presidency, and we thank him for his leadership and support,’ she said.

After a challenging year, Steed said: ‘I think it’s fair to say that no AAT president has taken quite the same path as I have over the past year. It’s been truly a unique journey as I’ve worked to strengthen our governance, support our members and revitalise our branch network.’

AAT’s next chapter

The appointment follows AAT’s new governance structure, designed to balance long-term stability with fresh energy. The board, executive and president through the members’ advisory council now each hold distinct but complimentary roles, ensuring AAT remains closely connected to its members.

AAT is made up of more than 120,000 people passionate about accountancy – either working in the profession or studying towards AAT’s Ofqual-certified qualifications, including more than 6,000 apprentices.    

Pictured [l-r]: Sarah Beale, Lucy Cohen