This month marks the 140th anniversary of the Chartered Accountants’ Benevolent Association (caba), founded in 1886 after a group of ICAEW council members gave £50 to a junior colleague suffering from a terminal illness, a sum equivalent to £5,693 in today’s money.

Predating the invention of the calculator, cinema, and even teabags, caba has seen the world change a lot since it first opened its doors to needy accountants in 1886 at the height of the Victorian era when horse and carriages plied the streets of Britain. caba was set up the same year as Arsenal in 1886, only a year after Millwall and Southampton, who opened in 1885.

Since its inception all those years ago, caba has provided more than £37m for accountants and their families in need. In the last 20 years more than 40,000 enquiries have been made by people asking for help, with 10,000 receiving direct financial assistance, and 8,000 given counselling.   

The association has always had close ties with ICAEW. Among those shaping caba’s early years were some of the most recognisable names in accountancy, including the chairman of the charity’s first ever meeting, William Welch Deloitte (pictured), who was one of the original founders of Deloitte back in 1845 when he was only 25 years old. 

Shauna Robinson, Deloitte partner and ICAEW council member, said: ‘Deloitte has a long history of being connected to caba’s story. Our own founder, William Welch Deloitte, played a key role in the charity’s earliest days and served as caba’s president until just before his death in 1898, reflecting the profession’s long tradition of supporting its community.

‘As the charity marks 140 years of service, we continue to recognise the importance of providing wellbeing and practical support for ICAEW members and their families.’

The biggest single benefactor in caba’s history was Henry Merrett, an ICAEW member since 1908. When in 1958 doctors told him he only had a short time to live, Merrett generously proposed to leave three quarters of his estate to caba.

The farmland generated a modest income over the years, and in 2005, Peacock Farm in Berkshire was sold for £65m.

Derek Blair, president of ICAEW, said: ‘I am proud to be associated with a charity that recognises the realities faced by the accountancy profession and responds with care, respect and practical help.

‘caba’s focus on hardship and poor health reflects the importance of offering meaningful support when it matters the most. Too often, caba has been described as a “best kept secret”, it should not be. Ensuring that people know help is available and feel able to access it without stigma or shame, is essential if caba is to fulfil its purpose’.

Current chief executive of caba, Dr Cristian Holmes, said: ‘For 140 years, caba has been here for every member of the ICAEW community when they need support most. caba exists to make sure no one has to shoulder these burdens alone. At a time when the profession is navigating some of its biggest changes and challenges, we’re proud to continue providing practical, confidential support to those who need it.’

Pictured: William Welch Deloitte, credit Deloitte