This follows a review of the institute’s governance which called for modernisation of the oversight structure to streamline decision making, increase accountability and support greater diversity.

The appointment comes as the search for a new chief executive continues following the announcement of the upcoming retirement of Michael Izza in December.

Former PwC partner Wyman has extensive senior experience in the public and private sectors and was selected following an open and rigorous recruitment process.

Until now the ICAEW board has been chaired by the elected ICAEW president, who is a member of ICAEW council and changes each year.