Richard Macve’s forthcoming trip to examine restructuring of auditing in China doesn’t sound like that of a man retired. Not, that is, until he announces how he’ll get there
“I can afford to be more leisurely now,” he says. “So I’m taking the Trans-Siberian Railway. It’ll take two weeks. It will be wonderful.”
As a senior accountant you don’t often get to hear young people say you’re stupid
The trip, 5,800 miles from Moscow to Vladivostok before a flight to Beijing, is an indulgence: “I adore trains and train journeys,” he says. Once in Asia, however, Macve will deliver a paper at a forum and research the development of the Chinese accountancy system. Quite a workload for someone who nominally quit the day job two years ago.
“My life is not radically different,” he says. “The main change is I am only paid for 50% of the hours I used to be paid for.”
Macve remains Emeritus Professor of Accounting at the London School of Economics, which he joined as a lecturer nearly 40 years ago after qualifying as a chartered accountant at Peat, Marwick, Mitchell & Co (now KPMG). Education has been the driving force of his career – he was professor of accounting at Aberystwyth University for 18 years and remains an honorary visiting professor.
He’s also chaired ICAEW’s Student Education Advisory Group, is an honorary fellow of the Institute of Actuaries and is academic advisor to ICAEW’s Research Advisory Board. So is teaching a vocation?
“It is,” he says. “As a senior accountant you don’t often get to hear young people say you’re stupid. It’s good to teach – and refreshing to be constantly challenged.” And at 67, Macve is still thrilled by learning – hence the Asia trip. “Current thinking is the next ‘Big Five’ firm will come out of China,” he says.
“The next step is following Chinese clients investing overseas. Qualified accountants in China can now get ICAEW membership. The question is, will Diageo or whoever buy its next audit from China?”
He also believes it crucial to understand accountancy history. “I’ll be looking at 18th century archives people thought had vanished in the Cultural Revolution. They are full of documents passed through family businesses from shops to merchant bankers, and they can be picked up in flea markets.”
Away from teaching and research, he enjoys being a court assistant of the Worshipful Company of Chartered Accountants and a member of the Athenaeum. “And I love opera – so much so I’ve been three times in the last week,” he says. “And sailing – I live in Aberystwyth and to look at the mountains from a boat at sea is wonderful. The great thing about sailing is that it utterly takes your mind off everything. It can be terrifying and you have to concentrate for 61 seconds in every minute – you can’t afford to think about anything else.”
And on the subject of work: “I will continue to shed some duties, but I can’t see myself stopping altogether. Among my greatest influences is Steve Zeff [Professor of Accounting at Rice University in Texas and one of only six ICAEW Honorary Members]. We have been friends for 30 years. He is still working into his 80s so I don’t see any reason to stop yet.”
Peter Taylor-Whiffen
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