ICAEW Insights: Recent Episodes
ICAEW
In this podcast series from the Institute of Chartered Accountants in England and Wales, a panel of guests dissect the latest headlines and provide expert analysis on the top stories from across the world of business, finance and accountancy.
In this episode, EY UK Digital Assurance Leader Richard Harrison joins us to talk about how the firm is using AI agents in audit. How do they divide tasks between people and tech? And how are they understanding and mitigating risk?
Then, Polly Tsang, ICAEW’s Senior Financial Services Regulatory Manager tells us about Prediction Markets. While you may not have heard of them, they’re opening up a whole new market for Insider Traders. Polly explains how they work, where the risks lie and what needs to happen to minimise them.
Links
- EY principles of responsible AI - https://www.ey.com/en_uk/insights/ai/principles-for-ethical-and-responsible-ai?channel=TxtV-B
- Prediction markets spark insider trading fears - https://www.cnbc.com/2026/07/09/prediction-markets-spark-insider-trading-fears-how-firms-are-responding.html
- Microsoft bans prediction markets - https://www.businessinsider.com/microsoft-prediction-markets-employee-policy-2026-7
- Prediction markets are minting a new type of insider trader - https://www.bloomberg.com/graphics/2026-polymarket-traders-who-knew-the-future/
- Google worker charged with using internal data to make $1.2m - https://www.bbc.co.uk/news/articles/c052yv259jvo
- ICAEW CPD record - https://www.icaew.com/membership/cpd/online-cpd-record
Host: Philippa Lamb
Guests:
- Richard Harrison, UK Digital Assurance Leader, EY
- Polly Tsang, ICAEW’s Senior Financial Services Regulatory Manager
Producer: Natalie Chisholm
Series Lead: Mark Rowland
Episode first published: 4 August
Podcast recorded: 27 July
The question of whether an ‘AI bubble’ is going to burst doesn’t seem to be going away. There’s a compelling case to be made on both sides of the argument, with the growing demand for AI tools, and the huge amount of money and resources needed to deliver on that demand.
So what are the actual risks of an AI bubble, and what would that mean for the tools that businesses and firms are investing in right now? We interrogate the various indicators of whether there might be a bubble or not, and discuss the considerations and failsafes that businesses should consider when adopting AI software.
Links
Data centre planning policy - https://researchbriefings.files.parliament.uk/documents/CBP-10315/CBP-10315.pdf
Gas use in data centres - https://www.newcivilengineer.com/latest/dramatic-increase-in-data-centre-developers-wanting-gas-grid-connections-21-04-2026/
Water use for data centres - https://assets.publishing.service.gov.uk/media/688cb407dc6688ed50878367/Water_use_in_data_centre_and_AI_report.pdf
AI company IPOs - https://www.blackrock.com/us/financial-professionals/insights/mega-ai-ipos-and-index-inclusion
Increasing demand for AI – Forbes - https://www.forbes.com/advisor/uk/business/software/uk-artificial-intelligence-ai-statistics/
AI boom leaves data centre demand beyond supply - https://datacentrenews.uk/story/ai-boom-to-leave-data-centre-demand-far-above-supply
ICAEW CPD record - https://my.icaew.com/cpdrecord
HostPhilippa Lamb
GuestsTom Pugh, Chief Economist, RSM UK
Tasmin Lockwood, tech and environment journalist
Hothyfa Elbeera, Senior Software Engineer, Claimsgate, MoJ
ProducerNatalie Chisholm
Series LeadMark Rowland
Episode first published: 15 July
Podcast recorded: 08 June
We’ll have a new PM soon, while the war in the Middle East rages on. Does this mean more uncertainty for businesses in the second half of 2026? ICAEW’s Chief Economist tries to predict what might happen next.
If that wasn’t enough, there’s a lot going on in tax at the moment, from MTD Income Tax to new agent registration rules and more tax changes than expected mid-year. Lindsey Wicks explains all the changes.
Finally, we get an insight from Junaidy Ab-Mutalib about the profession in Malaysia. What are the unique opportunities and challenges for the profession in the region?
Links
- ICAEW: Suren Thiru on how US-Iran peace deal could influence UK’s economic outlook - https://www.icaew.com/insights/viewpoints-on-the-news/2026/jun-2026/suren-thiru-on-how-us-iran-peace-deal-could-influence-uk-economy
- ICAEW: Significant changes announced at Tax Update 2026 - https://www.icaew.com/insights/tax-news/2026/jun-2026/significant-changes-announced-at-tax-update-2026
- ICAEW: HMRC sets timetable for agent multi factor authentication rollout - https://www.icaew.com/insights/tax-news/2026/jun-2026/hmrc-sets-timetable-for-agent-multi-factor-authentication-rollout
- ICAEW: HMRC publishes detailed guidance on mandatory tax adviser registration - https://www.icaew.com/insights/tax-news/2026/jun-2026/hmrc-publishes-detailed-guidance-on-mandatory-tax-adviser-registration
- ICAEW: MTD income tax and claims for averaging relief - https://www.icaew.com/insights/tax-news/2026/jun-2026/mtd-income-tax-and-claims-for-averaging-relief
- ICAEW: CPD record - https://www.icaew.com/membership/cpd/online-cpd-record
Host
Philippa Lamb
Guests
- Suren Thiru, Chief Economist, ICAEW
- Lindsey Wicks, Senior Tax Technical Manager, ICAEW
- Junaidy Ab-Mutalib, Managing Partner, JM & Co
Producer
Natalie Chisholm
Series Lead
Mark Rowland
Episode first published: 1 July
Podcast recorded: 26 June
Last year CEO pay rose 20 times faster than workers’ pay, according to new research from Oxfam and the International Trade Union Confederation. At the most extreme end of that pay scale, investors approved an executive package for Elon Musk worth a potential $1tn.
So when does CEO pay become too high? What are the commercial, ethical and cultural implications for organisations if they’re perceived to be over-paying their CEOs? And as businesses compete globally for the best executive talent what can Boards do to keep pay packages in check?
Links
- Top CEO pay statistics from Oxfam - https://www.oxfam.org/en/press-releases/top-ceo-pay-increased-20-times-faster-workers-pay-2025
- ICAEW: Remuneration Committee ebooks - https://www.icaew.com/technical/corporate-governance/committees/remuneration-committees/remuneration-committee-ebooks
- ICAEW: Guidance on remuneration - https://www.icaew.com/technical/corporate-governance/committees/remuneration-committees
- ICAEW: How a CEOs pay package influences corporate culture - https://www.icaew.com/insights/viewpoints-on-the-news/2025/apr-2025/how-a-ceos-pay-package-influences-corporate-culture
- ICAEW CPD record - https://www.icaew.com/membership/cpd/online-cpd-record
Host
Philippa Lamb
Guests
Shefaly Yogendra, independent Board director, board adviser and author
Peter van Veen, Governance and Ethics Director, ICAEW
Producer
Natalie Chisholm
Series LeadMark Rowland
Episode first published: 17 June
Podcast recorded: 11 May
The government has plans to tokenise financial markets. What exactly is tokenisation? What might it look like in practice and what are the big questions about it that still need answering? Polly Tsang, ICAEW’s Senior Financial Services Regulatory Manager, explains.
After that, audit reports: ICAEW has created the Auditor Reporting Lab, alongside audit firms, to encourage modernisation in the market. KPMG Partner in Professional Practice, Accounting & Reporting, Pamela Taylor, has been thinking hard about how to make them more useful and more user-friendly.
This podcast counts towards your annual CPD – click the link below to log your time.
Links
- ICAEW: What is tokenisation, and what are the challenges for accountants? - https://www.icaew.com/insights/viewpoints-on-the-news/2026/may-2026/what-is-tokenisation-and-the-challenges-for-accountants
- Government tokenisation announcement - https://www.gov.uk/government/news/uk-fintech-backed-to-embrace-future-payments-technology
- FCA call for input on the future of tokenisation - https://www.fca.org.uk/publications/calls-input/future-tokenisation-joint-vision-authorities-uk-wholesale-markets
- ICAEW: Digital Assets Conference - https://www.icaew.com/learning-and-development/events/digital-assets-conference
- ICAEW: Auditor Reporting Lab - https://www.icaew.com/policy-and-research/thought-leadership/audit-and-assurance-thought-leadership/auditor-reporting-lab
- ICAEW: Rethinking the auditor’s report - https://www.icaew.com/policy-and-research/thought-leadership/audit-and-assurance-thought-leadership/auditor-reporting-lab/rethinking-the-auditors-report
- ICAEW: Audit and Assurance Conference - https://www.icaew.com/learning-and-development/events/audit-and-assurance-conference
- ICAEW podcasts - https://www.icaew.com/insights/podcast
HostPhilippa Lamb
Guests
Polly Tsang, Senior Financial Services Regulatory Manager
Pamela Taylor, Partner in Professional Practice, Accounting & Reporting, KPMG
Producer
Natalie Chisholm
Series LeadMark Rowland
Episode first published: 3 June 2026
Podcast recorded: 19 May 2026
Fraud is the largest reported crime in England and Wales, and the UK government wants to bring numbers down. With failure to prevent fraud now an offence, there is some onus on business to address the issue. But are enough businesses taking it seriously?
In this episode, we take a look at the common types of fraud, what businesses should be vigilant of, and how can they protect themselves?
Links
- UK government fraud strategy - https://www.gov.uk/government/publications/fraud-strategy-2026-to-2029
- UK fraud statistics - https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/articles/natureoffraudandcomputermisuseinenglandandwales/yearendingmarch2025
- ICAEW: Fraud helpsheets - https://www.icaew.com/technical/tas-helpsheets/fraud
- ICAEW: What the government’s new fraud strategies mean for business - https://www.icaew.com/insights/viewpoints-on-the-news/2026/apr-2026/what-the-governments-new-fraud-strategies-mean-for-business
- ICAEW: podcasts - https://www.icaew.com/insights/podcast
Host
Guy Ruddle
Guests
- Tristan Yelland, Partner, Forensic and Investigations, Grant Thornton
- Will Christopher, Partner, Kinsgsley Napley
ProducerNatalie Chisholm
Series LeadMark Rowland
Episode first published: 20 May 2026
Podcast recorded: 20 April 2026
Everyone’s talking about energy costs at the moment. Greenfields Energy Group’s co-founder LIAM CONWAY walks us through the energy impacts of the Iran War and outlines the best ways for businesses to protect themselves from global energy shocks.
Elsewhere on the episode, we discuss new guidance from the Financial Reporting Council on managing the risks for auditors when it comes to AI adoption; and a quick update on UKGAAP: the challenges that the changes pose for smaller entities
Links
- How higher oil prices will change Britain -https://www.thetimes.com/article/f754197a-859b-460b-8ad0-1e36fc878ff1
- FRC – AI in Audit: Generative and Agentic AI guidance -https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/guidance/ai-in-audit/
- ICAEW UK GAAP hub - https://www.icaew.com/technical/corporate-reporting/uk-gaap/changes-to-uk-gaap
- ICAEW: Changes to UK GAAP Conference - https://www.icaew.com/learning-and-development/events/corporate-reporting-conference
- ICAEW podcasts - https://www.icaew.com/insights/podcast
HostPhilippa Lamb
Guests
- Liam Conway, Co-Founder, Greenfield Energy Group
- Ian Pay, Head of Data Analytics, ICAEW
- Fahad Asgar, Technical Manager, Corporate Reporting, ICAEW
ProducerNatalie Chisholm
Series LeadMark Rowland
Episode first published: 6 May
Podcast recorded: 29 April
AI is already having an impact on the make-up of audit teams and there’s some evidence it’s already reducing the number of junior roles. But it’s all still new, and developing all of the time. What about the medium and longer term effects? How might it change training and career paths and will it ultimately boost or diminish the appeal of a career in accountancy?
We’re joined by a young accountant, an ex-accountant turned HR advisor, and the MD of a leading hiring firm in the audit and accounting sector, about how roles, skills and hiring practices are evolving, and what that means for the profession.
Links
ICAEW: Why we still need junior accountants in the age of AI - https://www.icaew.com/insights/viewpoints-on-the-news/2026/apr-2026/why-we-still-need-junior-accountants-and-how-their-role-might-change
Is There a Brain Drain in Auditing? - https://www.researchgate.net/publication/402277496_Modeling_the_Consequences_of_the_Auditors'_Leaving_the_Public_Accounting_Profession_Is_There_a_Brain_Drain_in_Auditing
ICAEW: How to stop accountancy's brain drain - https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-stop-accountancys-brain-drain/transcript
ICAEW: How is AI transforming roles in industry? - https://www.icaew.com/insights/viewpoints-on-the-news/2026/apr-2026/how-is-ai-transforming-roles-in-industry
ICAEW podcasts - https://www.icaew.com/insights/podcast
HostPhilippa Lamb
Guests
- Lola Abitogun, Fractional HR Director
- George Oliver, Audit Associate, KPMG
- Chris Lawton, Group MD, Executive Search, Robert Half
ProducerNatalie Chisholm
Series LeadMark Rowland
Episode first published: 15 April
Podcast recorded: 11 March
We’ve already seen immediate spikes and fluctuations in the oil price and the wider financial and commodity markets. But how will the UK economy be affected in the months to come and how heavy a price will British Business pay? RSM Chief Economist Tom Pugh shares his thoughts.
Liz Barclay is Co-founder of Business 111, Special Adviser on Small Business & Entrepreneurship at the Institute of Directors and campaigner for tighter rules on late payments. She gives her views on the Government’s recently announced plans.
Finally, with demand growing for AI assurance, what does good actually look like? Expert and Senior Programme Manager in Digital Ethics & AI at TechUK, Tess Buckley, fills us in.
LinksICAEW:Iran conflict sends economic shockwave across the Gulf -https://www.icaew.com/insights/viewpoints-on-the-news/2026/mar-2026/iran-conflict-sends-economic-shockwave-through-the-gulf
Oil prices to stay elevated across Iran War scenarios - https://www.reuters.com/business/energy/oil-prices-stay-elevated-across-iran-war-scenarios-2026-03-27/
Late payments consultation response - https://www.gov.uk/government/consultations/late-payments-tackling-poor-payment-practices/outcome/late-payment-consultation-time-to-pay-up-government-response-web-version
Government AI assurance roadmap - https://www.gov.uk/government/publications/trusted-third-party-ai-assurance-roadmap/trusted-third-party-ai-assurance-roadmap
Ensuring responsible AI development - https://www.techuk.org/resource/ensuring-responsible-ai-development-let-s-talk-about-ai-assurance.html
HostPhilippa Lamb
Guests
- Liz Barclay, Co-founder of Business 111, Special Adviser on Small Business & Entrepreneurship at the Institute of Directors
- Tess Buckley, Expert and Senior Programme Manager in Digital Ethics & AI at TechUK
- Tom Pugh, RSM Chief Economist
Producer
Natalie Chisholm
Series Lead
Mark Rowland
Episode first published: 1 April
Podcast recorded: 27 March
UK Sustainability Reporting Standards (UK SRS) are bringing sustainability reporting in line with international standards. So who will be mandated to use them and how will they apply in practice? The Financial Conduct Authority (FCA) is consulting on this at the moment. One of the people behind the international standards joins us and ICAEW’s Sustainability Reporting and Assurance Director to discuss the implications of this.
Links
UK Sustainability Reporting Standards - https://www.gov.uk/guidance/uk-sustainability-reporting-standards
FCA Consultation - https://www.fca.org.uk/publications/consultation-papers/cp26-5-sustainability-disclosures
IFRS Sustainability Disclosures navigator - https://www.ifrs.org/issued-standards/ifrs-sustainability-standards-navigator/
ICAEW Government publishes UK SRS - https://www.icaew.com/insights/viewpoints-on-the-news/2026/feb-2026/government-publishes-uk-sustainability-reporting-standards
Host
Philippa Lamb
Guests
- Ravi Abeywardana, ICAEW's Director of Sustainability Reporting and Assurance
- Richard Barker, a member of the International Sustainability Standards Board
Producer
Natalie Chisholm
Series Lead
Mark Rowland
Episode first published: 10 March
Podcast recorded: 9 February
There’s just one month to go till Making Tax Digital kicks in for Income Tax; we take a look at how the transition will go. There’s also a lot happening in corporate reporting at the moment – Sally Baker brings us up to speed.
Links
- ICAEW: Making Tax Digital - https://www.icaew.com/technical/tax/making-tax-digital
- ICAEW: MTD: How to prepare your clients - https://www.icaew.com/insights/tax-news/2026/jan-2026/mtd-how-to-prepare-your-clients
- ICAEW: FRC issues amendments to FRS 102 and FRS 105 - https://www.icaew.com/insights/viewpoints-on-the-news/2026/mar-2026/frc-issues-amendments-to-frs-102-and-frs105
- ICAEW: Government publishes UK Sustainability Reporting Standards - https://www.icaew.com/insights/viewpoints-on-the-news/2026/feb-2026/government-publishes-uk-sustainability-reporting-standards
- Regulation plan update: Modernisation of Corporate Reporting - https://questions-statements.parliament.uk/written-statements/detail/2025-10-21/hcws973
- ICAEW: UK adopts IFRS 18 - https://www.icaew.com/insights/viewpoints-on-the-news/2025/dec-2025/landmark-moment-for-financial-reporting-as-uk-adopts-ifrs-18
- ICAEW: IFRS 18 fact sheet (ICAEW members only) - https://www.icaew.com/restrictedmedia?mediaItemId=03545ebb-a068-48eb-b50c-13eede0e3804
Host
Philippa Lamb
Guests
- Sally Baker, Head of Corporate Reporting Strategy, ICAEW
- Rebecca Benneyworth, ICAEW Chartered Accountant
Producer
Natalie Chisholm
Series Lead
Mark Rowland
Episode first published: 4 March
Podcast recorded: 23 and25 February
This episode looks at routes to the C-suite, and the traits, skills and capabilities you’ll need to get you there. Accountants are highly represented in the C-suite, with one in four CEOs holding the qualification according to research by Robert Half.
However, the working world is going through rapid technological and cultural transformation. So how is that changing the competencies that organisations look for in their leaders? And how can you best prepare yourself for taking on those roles in the future?
Transcript
Read the full transcript of this episode here - https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-get-to-the-c-suite/transcript
Links
ICAEW: Soft skills for leaders (CPD) - https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/free-cpd-soft-skills-for-leaders
ICAEW: Traits of modern CFOs - https://www.icaew.com/insights/viewpoints-on-the-news/2024/jul-2024/what-traits-make-up-the-modern-cfo
ICAEW: Eight lessons from my first year as CFO - https://www.icaew.com/insights/viewpoints-on-the-news/2026/feb-2026/eight-lessons-from-my-first-year-as-a-cfo
ICAEW: How to deal with team conflict - https://www.icaew.com/insights/viewpoints-on-the-news/2026/jan-2026/management-skills-how-to-deal-with-team-conflict
Host
Philippa Lamb
Guests
- Neil Cutting, Transformation Director at Oracle
- Zana Goic Petricevic, leadership transformation expert
- Richard Davis, founder and CEO, FNLY
Producer
Natalie Chisholm
Episode first published: 10 February 2026
Podcast recorded: 21 January 2026
This episode covers AI and tax work and ISA 600 on group audits, following the release of two pieces of guidance on the topics.
With several tax cases in which AI has been used and provided incorrect or misleading information, we outline how to apply the five fundamental ethical principles to AI use.
ISA 600 on group audits was revised, effective for audits of financial statements for periods commencing on or after 15 December 2023. These changes are quite wide ranging, particularly when it comes to the treatment of component auditors. We go through the details.
Links:
ICAEW: Professional conduct in relation to taxation (PCRT) - https://www.icaew.com/technical/tax/working-in-tax/pcrt
ICAEW: Auditing groups of companies - https://www.icaew.com/technical/audit-and-assurance/audit/group-audit
HMRC v Gunnarsson - https://assets.publishing.service.gov.uk/media/688240632b6fd60b7c16100d/HMRC_v_Gunnarsson_final_decision.pdf
ICAEW: PCRT Guidance on ethical use of AI - https://www.icaew.com/technical/tax/working-in-tax/pcrt/topical-guidance-application-of-pcrt-to-ethical-use-of-artificial-intelligence-tools
ICAEW: Use of AI criticised in tax case - https://www.icaew.com/insights/tax-news/2025/aug-2025/use-of-ai-criticised-in-tax-case
ICAEW: Group auditing: nine key changes for auditors - https://www.icaew.com/insights/viewpoints-on-the-news/2026/jan-2026/group-auditing-nine-key-changes-for-auditors
Host
Philippa Lamb
Guests
- Sophie Wales, Director of Regulatory Policy at ICAEW
- Catherine Hardinge, Partner, Price Bailey
Producer
Natalie Chisholm
Episode first published: 3 February 2026
Podcast recorded: 28 January 2026
Celsius network claimed to be a safe place to trade digital currencies and assets. In reality, it was using customers’ money for its own ends. In the first Behind the Numbers of the New Year, we explore the collapse of digital currency platform Celsius network, the scandal that followed, and its lasting impact on crypto asset regulation, particularly custody.
Since that scandal, international regulators including the Financial Conduct Authority have been looking at custody rules and wider regulation around digital assets. But are they on the right track?
Transcript
Read the full transcript of this episode here - https://www.icaew.com/insights/podcast/behind-the-numbers/how-the-celsius-scandal-is-reshaping-crypto-regulation/transcript
Links
Founder of Celsius sentenced to 12 years for fraud - https://www.justice.gov/usao-sdny/pr/founder-celsius-sentenced-12-years-fraud-and-market-manipulation
Celsius investigation: all the red flags - https://fortune.com/2023/02/07/celsius-network-investigation-red-flags/
FCA Crypto Roadmap - https://www.fca.org.uk/publication/documents/crypto-roadmap.pdf
FCA: Stablecoin issuance and Cryptoasset Custody proposals - https://www.fca.org.uk/publications/consultation-papers/cp25-14-stablecoin-issuance-cryptoasset-custody
ICAEW: The Future of crypto regulation: key considerations - https://www.icaew.com/insights/viewpoints-on-the-news/2025/nov-2025/the-future-of-crypto-regulation-key-considerations
Host
Philippa Lamb
Guests
- Polly Tsang, Senior Financial Services Regulatory Manager, ICAEW
- Jessica Caws, Co-Head of Financial Services at Birketts LLP
- Shermeen Kazmi, Partner, Grant Thornton
Producer
Natalie Chisholm
Episode first published: 12 January 2026
Podcast recorded: 16 December 2025
In the first episode of 2026, our usual team of soothsayers David Williamson, Frances Haque and Iain Wright review the events of the past 12 months, and look ahead to what we might expect in the coming year.
Will 2026 be more of the same, or will there be some reasons to be cheerful? Could the AI bubble burst, or will it just deflate? And did our panel get anything right last year?
Transcript
Read the full transcript of this episode - https://www.icaew.com/insights/podcast/behind-the-numbers/a-world-cup-bump-an-ai-slump-2026-predictions/transcript
Links
ICAEW: The 2025 predictions episode - https://www.icaew.com/insights/podcast/accountancy-insights/trump-tariffs-and-eu-turmoil-2025-predictions
ICAEW: UK Business Confidence Monitor - https://www.icaew.com/technical/economy/business-confidence-monitor
‘The AI bubble will burst’ - https://www.bbc.co.uk/sounds/play/p0m7h23s
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- David Williamson, Political Editor, Sunday Express
- Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 31 December 2025
Podcast recorded: 15 December 2025
With Christmas round the corner, we’ve put together a special best of episode of Behind the Numbers, featuring some of the most memorable conversations from throughout the year.
From discussions of Trump and tariffs on our 100th episode to one of our favourite conversations on the history of money, it’s an excellent way to remind yourself of what went on this year – or catch up on what you’ve missed.
Links:
ICAEW: Rebuilding trust in volatile times - https://www.icaew.com/insights/podcast/behind-the-numbers/rebuilding-trust-in-volatile-times
ICAEW: Appraising Starmer’s Labour - https://www.icaew.com/insights/podcast/behind-the-numbers/appraising-starmers-labour
ICAEW: How to bounce back from a cyber attack - https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-bounce-back-from-a-cyber-attack
ICAEW: Dealing with uncertainty and mental health - https://www.icaew.com/insights/podcast/behind-the-numbers/dealing-with-uncertainty-and-mental-health
ICAEW: Can history teach us anything about digital money? - https://www.icaew.com/insights/podcast/behind-the-numbers/can-history-teach-us-anything-about-digital-money
Host
Philippa Lamb
Clips featuring
- Iain Wright, Chief Policy & Communications Officer, ICAEW
- David Williamson, Chief Political Commentator, The Express
- Frances Haque, Santander Chief Economist
- Neil Hare-Brown, Founder, STORM Guidance
- Michael Hoare, partner, Kekst CNC
- Paul Guess, Case Management Officer at CABA
- Riaz Shah OBE, Professor of Practice, Hult International Business School
- Tony Moore, Lecturer in Finance, Henley Business School
- Polly Tsang, Senior Financial Services Regulatory Manager, ICAEW
Producer
- Natalie Chisholm
Episode first published: 18 December
Podcast recorded: 7 November 2025
This episode is all about the Budget. What was in it? What are the implications? Was there anything positive to glean from it?
Stepping in for Philippa Lamb on this episode, Guy Ruddle speaks to the usual economic dream team of Santander Chief Economist Frances Haque, David Williamson, who joins us from Portcullis House, and Iain Wright, ICAEW’s Chief Policy and Communications Officer.
They share their views on the early publication of the OBR’s projections, the constant leaking ahead of the Budget, the economic implications of the measures included within it, and who it was actually for.
Time codes
01’53”:The OBR’s leaked report
05’48”: The content of the Budget and its implications
10’07”: The lack of growth measures
Links
- ICAEW: Budget 25: Do the tax changes meet the tenets? - https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenets
Host
- Guy Ruddle
Guests
- Frances Haque, Chief Economist, Santander
- David Williamson, Chief Political Commentator, The Express
- Iain Wright, Chief Policy and Communications Officer, ICAEW
Producer
- Natalie Chisholm
Episode first published: 1 December 2025
Podcast recorded: 27 November 2025
This episode focuses on the integration of AI in audit processes, emphasising the need for practical guidance from the Financial Reporting Council (FRC) to build industry confidence, especially with smaller firms. The conversation highlighted the importance of human oversight, the role of third-party technology providers, the challenges of explainability and data security, and the need for clear communication with clients.
Philippa Lamb is joined by Ramana McConnon, Head of Assurance Technology at the FRC, Jon Morris, Director of Audit and Professional Standards for Grant Thornton, and Martin Brown, Gen AI lead in Deloitte’s Audit technical team.
Time codes
- 04’50”:Discovering the AI use cases and benefits of the new technology for smaller firms
- 13’49”: Understanding explainability and the need for human oversight with AI solutions
- 18’25”: Are off-the-shelf solutions enough and will firms need to make big investments?
Links
- ICAEW: FRC publishes landmark guidance on the uses of AI in audit - https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/frc-publishes-landmark-guidance-on-the-uses-of-ai-for-audit
- FRC guidance on audit and AI - https://media.frc.org.uk/documents/AI_in_Audit.pdf
- ICAEW: AI in audit: opportunities and challenges - https://www.icaew.com/technical/audit-and-assurance/faculty-resources/webcasts/ai-in-audit
Host
Philippa Lamb
Guests
- Ramana McConnon, Head of Assurance Technology at the FRC
- Jon Morris, Director of Audit and Professional Standards for Grant Thornton
- Martin Brown, Gen AI lead in Deloitte’s Audit technical team
Producer
Natalie Chisholm
Episode first published: 11 November 2025
Podcast recorded: 7 November 2025
In this episode, we’re exploring just how useful Large Language Models (LLMs) are when it comes to spreadsheets; what needs to happen by 18 November when it comes to Companies House ID verification; and how the OBR comes to its conclusions.
Host Philippa Lamb is joined by Simon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan University, to talk about his research into LLMs' effectiveness when it comes to spotting errors in spreadsheets, with some clear winners and losers from the process.
Next, Mike Miller, ICAEW’s Economic Crime Manager, gives an update on Companies House ID verification and what Directors and accounting firms have to do to prepare. Finally, Martin Wheatcroft, Advisor on public finances for ICAEW, explains the role and methodology of the OBR.
Time codes:
Spreadsheets and AI – 01’06”
Companies House ID Verification – 13’28”
How the OBR works – 23’14”
Transcript
You can read a full transcript of the episode here: https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/the-best-and-worst-genais-for-spreadsheets
Links:
ICAEW: The best and worst gen AIs for spreadsheets - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/the-best-and-worst-genais-for-spreadsheets
Simon Thorne’s study on LLMs and spreadsheets - https://arxiv.org/abs/2506.17330
ICAEW: Authorised corporate service providers (ACSP) and ID verification - https://www.icaew.com/regulation/aml-supervision/aml-resources/acsp-and-id-verification
ICAEW: ID verification is coming – everything directors need to know - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/co-house-id-changes-what-directors-need-to-know
ICAEW: ID verification is coming – everything accounting firms need to know - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/co-house-id-changes-what-accountants-need-to-know
ICAEW: Companies House: who needs to be an ACSP and when should they register? - https://www.icaew.com/insights/viewpoints-on-the-news/2025/aug-2025/companies-house-who-needs-to-be-an-acsp-and-when-should-they-register
UK productivity downgraded - https://www.bbc.co.uk/news/articles/c0rpve82jxvo
Rachel Reeves v the OBR: chancellor aims to loosen the watchdog’s grip - https://www.theguardian.com/business/2025/oct/11/rachel-reeves-v-the-obr-chancellor-aims-to-loosen-the-watchdogs-grip
Labour fury at OBR is understandable but misplaced - https://www.ft.com/content/f1b53cb4-ba83-4b0a-a8f3-65ffab93b299
New Economics Foundation – A democratic fiscal framework - https://neweconomics.org/2025/08/a-democratic-fiscal-framework
Host
Philippa Lamb
Guests
- Simon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan University
- Mike Miller, Economic Crime Manager, ICAEW
- Martin Wheatcroft, Advisor on public finances, ICAEW
Producer
Natalie Chisholm
Episode first published: 28 October 2025
Podcast recorded: 22nd October 2025
All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.
In this episode, we discuss how prepared organisations really are for cyber attacks, what to do if and when your business is affected, and how to manage the communications challenges. We have a great case study from a company that suffered a cyber attack, with plenty of lessons about how to mitigate the impact on customers and return quickly to business as usual.
Philippa Lamb is joined by Peter Davenport, Crisis Communications Specialist, Definition Group; Michael Hoare, Director, Kekst CNC; Neil Hare-Brown, Founder, Storm Guidance; and Nadeem Raza, CEO, Microlise.
Time Codes
- 11:01: Nadeem Raza from Microlise shares his cyber attack case study
- 15:07: A deeper dive into how M&S and Jaguar Land Rover are managing the ongoing challenges from cyber attacks
- 27:25: The speakers share their top tips for cyber attack preparedness
Transcript:
You can read the full transcript of this episode here: https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-bounce-back-from-a-cyber-attack/transcript
Links
ICAEW: Cyber Security awareness -https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-month
ICAEW: Four cyber security lessons from M&S and other breaches - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/four-cyber-security-lessons-from-mands-and-other-breaches
Host
Philippa Lamb
Guests
- Peter Davenport, Crisis Communications Specialist, Definition Group
- Michael Hoare, Director, Kekst CNC
- Neil Hare-Brown, Founder, Storm Guidance
- Nadeem Raza, CEO, Microlise
Producer
Natalie Chisholm
Episode first published: 14 October 2025
Podcast recorded: 7 October 2025
We’re all navigating uncertainty right now. How can accountants manage it professionally and personally? Riaz Shah OBE, former EY Partner and Professor of Practice at Hult International Business School, breaks down the biggest factors affecting the profession at the moment, and how it might shape the role and future of accountants.
Then Paul Guess, Case Management Officer for accountants’ support charity CABA, talks about the mental toll that the current environment is taking on professionals, and the kind of support that they can expect to receive.
Links:
- https://www.icaew.com/learning-and-development/events/icaew-annual-conference
- http://caba.org.uk/
- https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/global-trust-in-chartered-accountants-rises-in-ai-world
- https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/ai-should-it-replace-junior-roles
Host
Philippa Lamb
Guests
Riaz Shah OBE, Professor of Practice, Hult International Business School
Paul Guess, Case Management Officer, CABA
Producer
Natalie Chisholm
Episode first published: 3 October 2025
Podcast recorded:25 September 2025
Whistleblowing is a vital process but often fraught with far more risk and emotional upheaval than it should be. In Western Europe, 43% of all occupational fraud cases come to light thanks to whistleblowers. And it’s not just fraud: cases from poor health-and-safety practices to bad team management have all been righted thanks to people speaking out.
Although many whistleblowing cases do result in bad practice being stopped and workplaces improved, some whistleblowers have been victimised or forced out of their jobs. In the UK, the new Failure to Prevent Fraud offence will mandate large employers to put clear whistleblowing policies in place, and both the Serious Fraud Office and HMRC are looking at schemes to incentivise whistleblowing.
Andrew Pepper-Parsons, Director of Policy and Communications at whistleblowing charity Protect, and Brendan Weekes, Associate Director at accountancy firm, S&W, join our host Philippa Lamb to discuss the topic, why a significant minority of whistleblowers don’t get the requisite protection and what the forthcoming regulation and potential SFO and HMRC schemes will mean for UK business.
They also both discuss some best practice case studies from organisations that are doing a good job of encouraging people to speak up when they see something that’s not right. This includes the Wellcome Trust’s excellently named scheme “The Only Way is Ethics”.
Links
- https://protect-advice.org.uk/checklist-for-whistleblowers/
- https://whistleblowersblog.org/global-whistleblowers/uks-sfo-director-continues-to-push-for-whistleblower-awards/
- https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/the-four-elements-of-effective-whistleblowing-culture
- https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/why-whistleblowing-is-a-requirement-not-a-choice-for-accountants
Host
Philippa Lamb
Guests
● Andrew Pepper-Parsons, Director of Policy and Communications, Protect
● Brendan Weekes, Associate Director, S&W
Producer
Natalie Chisholm
Episode first published: 18 September 2025
Podcast recorded: 12 September 2025
In this special episode of Accountancy Insights, we bring you a timely interview of Kemi Badenoch by ICAEW’s Chief Executive Alan Vallance who sat down with her after a speech she gave at Chartered Accountants’ Hall.
Badenoch talked about tackling perennial long-term problems like productivity and smarter regulation. She spoke with feeling about her frustration when, as Business Secretary in the previous Conservative government, she would meet with business leaders who showed her how debilitating regulation could be for business if the consequences of new laws are not thought through properly.
Drawing on her tech background, she also disagreed with her former colleague Jeremy Hunt that AI would replace accountants, saying “I don’t think accountants have anything to worry about.”
ICAEW’s Chief Policy and Communications Officer Iain Wright then joins our host Philippa Lamb to discuss Badenoch’s proposals and how it’s further evidence of ICAEW’s unique position as a leading voice for business.
Links
ICAEW: More on Kemi Badenoch’s speech - https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/kemi-badenoch-speaks-at-icaew-we-need-to-take-risks
ICAEW Policy: How the government can deliver growth - https://www.icaew.com/about-icaew/regulation-and-the-public-interest/policy/how-the-government-can-deliver-growth
Host
Philippa Lamb
Guests
- Iain Wright, Chief Policy and Communications Officer, ICAEW
Producer
Natalie Chisholm
Episode first published: 18 September 2025
Podcast recorded: 12 September 2025
Accountancy Insights explores the month’s top stories in the profession.
In this episode, we discuss the introduction of four statutory instruments to enforce Companies House reform, as well as the common mistakes to avoid when scaling up a business. We also cover the introduction and content of the Next Generation ACA qualification.
Philippa Lamb is joined by Mike Miller, ICAEW Economic Crime Manager; Anne Allibone, fractional CFO and commercial advisor; and Shaun Robertson, ICAEW Director of Education and Qualifications.
Time codes
00:30 Companies House update
11:00 Scaling up smartly
21:54 The Next Generation ACA
Links
ICAEW: Four draft instruments brought in to enforce Companies House reform: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/four-draft-instruments-brought-in-to-enforce-companies-house-reform
ICAEW: How to grow hub: https://www.icaew.com/technical/business/how-to-grow
ICAEW: Next Generation ACA hub: https://www.icaew.com/learning-and-development/aca/next-generation-aca
Host
Philippa Lamb
Guests
- Mike Miller, Economic Crime Manager, ICAEW
- Anne Allibone, fractional CFO and commercial advisor
- Shaun Robertson, Director, Education and Qualifications, ICAEW
Producer
Natalie Chisholm
Episode first published: 11 September 2025
In this episode of Behind the Numbers, we explore what the history of money can tell us about its future.
Currency has been evolving for thousands of years, but the pace of change has now escalated with the introduction of online banking and digital currencies. We discuss the parallels between modern and historical advances in currency, and key lessons as central banks look to introduce their own digital currencies.
Host Philippa Lamb is joined by Polly Tsang, Senior Financial Services Regulatory Manager at ICAEW; and Dr Tony Moore, Lecturer in Finance at Henley Business School.
Links
ICAEW Technology hub: https://www.icaew.com/technical/technology
ICAEW Financial Services Faculty: https://www.icaew.com/technical/financial-services
Host
Philippa Lamb
Guests
- Polly Tsang, Senior Financial Services Regulatory Manager, ICAEW
- Dr Tony Moore, Lecturer in Finance, Henley Business School
Producer
Natalie Chisholm
Episode first published: 20 August 2025
Podcast recorded: 13 August 2025
ICAEW’s Iain Wright hosts a conversation with Emma Jones CBE, the government’s newly appointed Small Business Commissioner, in this special episode of Accountancy Insights.
Jones discusses the Small Business Plan, launched on 30 July, which introduces new measures to tackle late payments. Estimates place the cost of late payments to the UK economy at £11bn per year as well as contributing to the closure of 38 businesses each day. Upcoming legislation will also reduce maximum payment terms from 60 to 45 days .
She also shares learnings from a career spent in small business. Jones founded and exited her first business at the age of 27 and then went on to establish both Enterprise Nation and StartUp Britain to support small and young businesses across the country. She has also previously served as SME Representative for the Crown Commercial Service.
Links
- Policy paper: ‘Backing your business: Our plan for small and medium-sized businesses’: https://assets.publishing.service.gov.uk/media/688b1f6f1affbf4bedb7b11d/our-plan-for-small-and-medium-sized-businesses.pdf
- Open consultation: ‘Late payments: tackling poor payment practices’: https://www.gov.uk/government/consultations/late-payments-tackling-poor-payment-practices
- ICAEW Small and Micro Business Community: https://www.icaew.com/technical/small-and-micro-business-community
Host
Iain Wright, Chief Policy and Communications Officer, ICAEW
Guest
Emma Jones CBE, Small Business Commissioner
Producer
Natalie Chisholm
Episode first published: 12 August 2025
Podcast recorded: 7 August 2025
In this episode, we discuss the findings of the Post Office Horizon IT Inquiry’s first report, including lessons for other companies around culture and values. We also explore ICAEW’s latest research into mid-tier practices, covering the key drivers of growth and the biggest challenges ahead.
Philippa Lamb is joined in the studio by Peter van Veen, ICAEW Director of Corporate Governance and Stewardship; and Sarah Ghaffari, ICAEW Director of Communities, Business and Practice.
Time codes
- 00:39 Inside the Post Office Inquiry
- 22:29 New mid-tier research
Links
- ICAEW event: Post Office treatment and abuse of Sub Post Masters: https://events.icaew.com/pd/31471/follow-up-post-office-treatment-and-abuse-of
- ICAEW: Evolution of mid-tier accountancy firms: https://www.icaew.com/technical/practice-resources/evolution-of-mid-tier-accountancy-firms
Host
Philippa Lamb
Guests
- Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW
- Sarah Ghaffari, Director, Communities, Business and Practice, ICAEW
Producer
Natalie Chisholm
Episode first published: 22 July 2025
Podcast recorded: 15 July 2025
In this episode of Behind the Numbers, we discuss the hits and misses of the Labour government’s first year in power.
While there have been some clear wins over the past 12 months, particularly on the international stage, domestic politics have felt far less controlled. Our panel evaluates the previous year, as well as suggesting where the government goes from here as it enters its second year.
Host Philippa Lamb is joined by Iain Wright, ICAEW’s Chief Policy and Communications Officer; Frances Haque, Santander UK’s Chief Economist; and David Williamson, Chief Political Commentator at the Daily Express.
Links
- ICAEW: Economy hub: https://www.icaew.com/technical/economy
- ICAEW Policy: How the government can deliver growth: https://www.icaew.com/about-icaew/regulation-and-the-public-interest/policy/how-the-government-can-deliver-growth
Host
Philippa Lamb
Guests
- Iain Wright, Chief Policy and Communications Officer, ICAEW
- Frances Haque, Chief Economist, Santander UK
- David Williamson, Chief Political Commentator, Daily Express
Producer
Natalie Chisholm
Episode first published: 14 July 2025
Podcast recorded: 7 July 2025
In this episode, we discuss the government’s new Industrial Strategy and, in particular, its sector plan for professional and business services with Iain Wright, ICAEW Chief Policy and Communications Officer. Iain is Chair of the Professional and Business Services Council, which has worked closely with government in devising the final plans.
We also met speakers at ICAEW’s How to Fix VAT conference on 18 June 2025 to learn about the complexity of the UK’s VAT system and the obstacles to reforming the tax.
Those interested in sharing their views on the Industrial Strategy can contact Iain Wright by emailing iain.wright@icaew.com.
Time codes
00:42 Inside the Industrial Strategy
22:46 Navigating VAT reform
Links
- ICAEW: Industrial strategy – four changes to boost professional services: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/industrial-strategy-four-changes-to-boost-professional-services
- ICAEW: Industrial and Infrastructure Strategies – key measures at a glance: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/industrial-and-infrastructure-strategies-at-a-glance
- ICAEW: Government reveals ambitions for key sectors: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/government-reveals-ambitions-for-key-sectors
- ICAEW: UK government backs services in Trade Strategy: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/uk-government-backs-services-in-trade-strategy
- ICAEW: VAT hub: https://www.icaew.com/technical/tax/vat
Host
Philippa Lamb
Guests
- Iain Wright, Chief Policy and Communications Officer, ICAEW
- Max Schofield, Barrister, Devereux Chambers
- Rebecca Porter, CEO, The VAT Team
- John Whiting CBE, Former Tax Director, Office of Tax Simplification
- Yige Zu, Associate Professor, Durham University
- Dennis Lui, CEO, Tax Academy of Singapore
- Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW
Producer
Natalie Chisholm
Episode first published: 8 July 2025
Podcast recorded: 1 July 2025
In this episode of Behind the Numbers, we discuss how businesses can best navigate geopolitical risk.
With the Trump administration’s push for tariffs, and wars taking place in Europe and the Middle East, doing business internationally is increasingly unpredictable. We explore the lessons learned from Russia’s recent history – beginning with the fall of the Soviet Union in 1991 all the way through to the invasion of Ukraine in 2022 – and the strategies that businesses can put in place to move quickly should similar risks materialise.
Host Philippa Lamb is joined by Peter van Veen, ICAEW Director of Corporate Governance and Stewardship, and Charles Hecker, author and risk analyst.
Links
- ICAEW: Corporate governance resources: https://www.icaew.com/technical/corporate-governance
- ICAEW: Ukraine crisis central resource hub: https://www.icaew.com/insights/insights-specials/ukraine-crisis-central-resource-hub
Host
Philippa Lamb
Guests
- Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW
- Charles Hecker, author and risk analyst
Producer
Natalie Chisholm
Episode first published: 20 June 2025
Podcast recorded: 13 June 2025
In this episode, we discuss how SMEs can pursue growth in today’s environment of economic uncertainty, as well as explaining how auditors should be fulfilling their responsibilities to exercise professional judgement and scepticism.
Philippa Lamb is joined by start-up consultant Romesh Jeyaseelanayagam and Rhodri Whitlock, Director at HPL Associates.
Time codes
- 00:33 Supporting SME growth
- 08:37 Professional judgement in audit
Links
- ICAEW Scale-Up Live 2025: https://events.icaew.com/pd/31049/scale-up-live-2025
- ICAEW: The importance of people and culture when scaling up: https://www.icaew.com/insights/viewpoints-on-the-news/2025/apr-2025/the-importance-of-people-and-culture-when-scaling-up
- ICAEW Audit and Assurance: Professional judgement resources: https://www.icaew.com/technical/audit-and-assurance/professional-judgement
- ICAEW Audit and Assurance: Professional scepticism resources: https://www.icaew.com/technical/audit-and-assurance/professional-scepticism
Host
Philippa Lamb
Guests
- Romesh Jeyaseelanayagam, Founder, The FD Consultant
- Rhodri Whitlock, Director, HPL Associates
Producer
Natalie Chisholm
Episode first published: 13 June 2025
Podcast recorded: 5 June 2025
Accountancy Insights is celebrating its 100th episode.
To mark the occasion, we’ve brought together experts from across business, politics and technology to look at a fundamental problem that’s holding back economic growth: trust. Just how deep is the trust crisis in business and institutions that we hear so much about? And how can it possibly be rebuilt as economic volatility persists?
We set the scene by discussing President Trump’s recent trade negotiations. Next, as Marks & Spencer continues to grapple with its near-catastrophic cyber attack, we explore how businesses can best protect themselves against the escalating risk of cybercrime. And finally, we speak with ICAEW Chief Executive Alan Vallance and Baroness Margaret Ford, Chair of the newly launched Centre for Public Interest Audit, on remedying the impact of high-profile corporate failures on public confidence in business.
This episode is available in both audio and video formats. Join thousands who have already subscribed to Accountancy Insights so that you never miss an episode.
Time codes
- 01:19 Navigating trade and tariffs
- 20:47 Guarding against cybercrime
- 30:05 Strengthening public confidence
- 49:57 Final thoughts
Links
- ICAEW Economy hub: https://www.icaew.com/technical/economy
- ICAEW Cyber Security hub: https://www.icaew.com/technical/technology/cyber-security
- ICAEW Trust and Ethics hub: https://www.icaew.com/technical/trust-and-ethics
- The Centre for Public Interest Audit: https://www.cpia.org.uk
Host
Philippa Lamb
Guests
- Alan Vallance, Chief Executive Officer, ICAEW
- Baroness Margaret Ford, Chair, The Centre for Public Interest Audit
- Iain Wright, Chief Policy and Communications Officer, ICAEW
- Frances Haque, Chief Economist, Santander UK
- David Williamson, Chief Political Commentator, Sunday Express
- Paul Munson, EU Compliance Lead, Rippling
Producer
Natalie Chisholm
Episode first published: 30 May 2025
Podcast recorded: 20 May 2025
In this episode, we discuss the government’s new measures to collect billions of pounds in unpaid taxes, as well as covering the key changes to ICAEW’s Code of Ethics, which come into effect on 1 July 2025.
Philippa Lamb is joined by Stephen Relf, Technical Manager, Tax; and Laura Hough, Director of Trust and Ethics.
This episode refers to penalty rates based on the Bank of England base rate, correct as of 1 May 2025. Make sure you check the current rates.
Time codes
00:28 Collecting unpaid taxes
06:04 Revisions to the Code of Ethics
Links
- HMRC: If you cannot pay your tax bill on time: https://www.gov.uk/difficulties-paying-hmrc
- ICAEW: Government takes further action to reduce tax debt: https://www.icaew.com/insights/tax-news/2025/mar-2025/government-takes-further-action-to-reduce-tax-debt
- ICAEW: HMRC increases interest rates for tax paid late: https://www.icaew.com/insights/tax-news/2025/mar-2025/hmrc-increases-interest-rates-for-tax-paid-late
- ICAEW Code of Ethics: https://www.icaew.com/technical/trust-and-ethics/ethics/code-of-ethics
- ICAEW: Keep on top of developments in ethics: https://www.icaew.com/insights/viewpoints-on-the-news/2025/apr-2025/keep-on-top-of-developments-in-ethics
- Accountancy Insights: Regulating tax advice, plus new professional behaviour wording: https://www.icaew.com/insights/podcast/accountancy-insights/regulating-tax-advice-plus-new-professional-behaviour-wording
Host
Philippa Lamb
Guests
- Stephen Relf, Technical Manager, Tax, ICAEW
- Laura Hough, Director, Trust and Ethics, ICAEW
Producer
Natalie Chisholm
Episode first published: 12 May 2025
Podcast recorded: 1 May 2025
In this episode of Behind the Numbers, we discuss how professionals should approach social media.
Social media can be a minefield, particularly when personal and professional lives are closely interwoven. Online debate has become increasingly polarised, including how people use professional networks such as LinkedIn. We cover some common pitfalls and explain how ethical principles should be informing the behaviour of chartered accountants online.
Host Philippa Lamb is joined by Lucy Penrose, Director of Ethics, Risk and Compliance at RSM UK; Junaidy Ab-Mutalib, Managing Partner at JM & Co Chartered Accountants in Kuala Lumpur; and Hannah Macdonald, Founder of Accountancy Hub.
Links
- ICAEW Code of Ethics: https://www.icaew.com/technical/trust-and-ethics/ethics/code-of-ethics
- ICAEW ethics helpsheets: Using social media: https://www.icaew.com/technical/tas-helpsheets/ethics/using-social-media
Host
Philippa Lamb
Guests
- Lucy Penrose, Director, Ethics, Risk and Compliance, RSM UK
- Junaidy Ab-Mutalib, Managing Partner, JM & Co Chartered Accountants
- Hannah Macdonald, Founder, Accountancy Hub
Producer
Natalie Chisholm
Episode first published: 29 April 2025
Podcast recorded: 22 April 2025
In this episode, we discuss how the Trump administration’s tariffs will hamper the government’s growth plans, the progress made towards Making Tax Digital on its tenth birthday, and how changes to FRS 102 and 105 will affect the nation’s small businesses.
Philippa Lamb is joined in the studio by Iain Wright, Chief Policy and Communications Officer; Caroline Miskin, Senior Technical Manager, Digital Taxation; and Sally Baker, Head of Corporate Reporting Strategy.
Time codes
- 00:41 Trump administration tariffs
- 14:07 Making Tax Digital at 10
- 20:48 Changes to FRS 102 and 105
Links
- ICAEW Insights: https://www.icaew.com/insights
- ICAEW events: https://events.icaew.com
- ICAEW: Making Tax Digital: https://www.icaew.com/technical/tax/making-tax-digital
- ICAEW: Periodic review of UK GAAP: https://www.icaew.com/technical/corporate-reporting/uk-gaap/periodic-review-of-uk-gaap
- ICAEW Corporate Reporting Conference (9 June 2025): https://www.icaew.com/learning-and-development/events/corporate-reporting-conference
Host
Philippa Lamb
Guests
- Iain Wright, Chief Policy and Communications Officer, ICAEW
- Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW
- Sally Baker, Head of Corporate Reporting Strategy, ICAEW
Producer
Natalie Chisholm
Episode first published: 8 April 2025
Podcast recorded: 3 April 2025
In this episode of Behind the Numbers, we discuss the necessary ingredients to support economic growth.
It’s a clear priority for the government. An industrial strategy is due to be published in the coming months – with eight key sectors for the UK already identified – and reviews of taxation and regulation are also taking place. As the Spring Statement arrives on 26 March, our panel explores whether government policy is pulling all the right levers.
Host Philippa Lamb is joined by John Boulton, ICAEW Director of Policy; John Godfrey, Managing Director of Public Affairs and Research at TheCityUK; Anne Allibone, fractional CFO; and Peter Arnold, EY UK Chief Economist.
Links
- ICAEW: Economy: https://www.icaew.com/technical/economy
Host
Philippa Lamb
Guests
- John Boulton, Director, Policy, ICAEW
- John Godfrey, Managing Director, Public Affairs and Research, TheCityUK
- Peter Arnold, Chief Economist, EY UK
- Anne Allibone, fractional CFO, Allibone Consulting
Producer
Natalie Chisholm
Episode first published: 25 March 2025
Podcast recorded: 21 March 2025
In this episode, we have a report by Mark Rowland from the ’20 Years of HMRC’ event held on 11 March at Chartered Accountants’ Hall, in which he speaks to James Murray, Exchequer Secretary to the Treasury, and Lord O’Donnell, former Permanent Secretary to the Treasury, among others, about the future of digitisation and HMRC.
Tax changes announced at the budget are coming into effect in April and one of the biggest concerns is the revisions to employers’ national insurance contributions and thresholds, as well as to NI employment allowances. Also changing is the way that double cab pick-ups are treated for tax purposes.
Auditing of SMEs has come under FRC’s spotlight recently, and it has launched a market study to determine what is working and what it not under the current regulation, including the complexity and cost of auditing standards.
Philippa Lamb explores the latter two subjects with Stephen Relf, Technical Manager, Tax, ICAEW, and Catherine Hardinge, Partner, Technical, Price Bailey LLP.
Links
- The future of a tax administration authority: https://www.icaew.com/insights/tax-news/2025/mar-2025/the-future-of-a-tax-administration-authority
- Ten tax changes taking effect from April 2025: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2025/ten-tax-changes-taking-effect-from-april-2025
- Don’t forget April tax changes for double cab pick-ups, says ICAEW: https://www.icaew.com/insights/tax-news/2025/feb-2025/dont-forget-april-tax-changes-for-double-cab-pick-ups-says-icaew
- Is the FRC doing enough to support small audits?: https://www.icaew.com/insights/viewpoints-on-the-news/2025/feb-2025/is-the-frc-doing-enough-to-support-small-audits
Host
Philippa Lamb
Guests
- Stephen Relf, Technical Manager, Tax, ICAEW
- Catherine Hardinge, Partner, Technical, Price Bailey LLP
- James Murray, Exchequer Secretary to the Treasury and chair of HMRC board
- Lord O’Donnell, former Permanent Secretary to the Treasury
- Heather Self, Consultant, Blick Rothenberg
- Paul Aplin, Vice-President, Chartered Institute of Taxation
- David Gauke, former Treasury minister
- Amanda Tickel, Head of Tax and Trade Policy, Deloitte
Producer
Natalie Chisholm
Episode first published: 17 March 2025
Podcast recorded: 6 March 2025
In this episode of Behind the Numbers, we discuss the appropriateness of employee ownership trusts (EOTs) for accountancy practices.
The majority of mid-tier accountancy and audit firms are still structured as limited liability partnerships. But, with nearly half of firms citing succession planning as a critical talent challenge, and private equity investors taking more interest in the sector, some firms are now looking at other options.
Philippa Lamb explores the key issues with Graeme Nuttall OBE, author of 2012’s Nuttall Review into employee ownership and International Ambassador for the Employee Ownership Association; Simon Blake, Head of Strategic Corporate Finance at Price Bailey; and Peter Hollis, whose firm recently became an EOT.
Links
- ICAEW: Employee ownership: https://www.icaew.com/technical/business/business-start-up-and-finance/employee-ownership
- Insight: employee ownership trusts: https://www.icaew.com/technical/corporate-finance/corporate-finance-resources/corporate-financier/2025/articles/february/insight-employee-ownership-trusts
Host
Philippa Lamb
Guests
- Graeme Nuttall OBE, International Ambassador, Employee Ownership Association
- Simon Blake, Head of Strategic Corporate Finance, Price Bailey
- Peter Hollis, Principal, Hollis & Co
Producer
Natalie Chisholm
Episode first published: 3 March 2025
Podcast recorded: 24 February 2025
In this episode, we discuss the latest developments in President Trump’s tariffs rollout and how they may affect UK businesses. We also explore a new joint report by ICAEW and the Chartered Institute of Taxation into HMRC service standards, which includes research findings from 31 agent firms.
Philippa Lamb is joined in the studio by ICAEW’s Iain Wright, Managing Director of Reputation and Influence, and Ed Saltmarsh, Technical Manager for VAT and Customs.
Time codes
- 00:52 Trump tariffs update
- 15:17 HMRC service standards
Links
- ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
- ICAEW-CIOT event: 20 years of HMRC – reflections and looking ahead: https://events.icaew.com/pd/30211/
- ICAEW podcast: The Tax Track: https://www.icaew.com/insights/podcast/the-tax-track
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW
Producer
Natalie Chisholm
Episode first published: 13 February 2025
Podcast recorded: 6 February 2025
In this episode of Behind the Numbers, we discuss continuous learning around technology and artificial intelligence.
For accountants, getting the most out of fast-evolving technologies involves more than simply training people how to use them. Judgement, communication and granular accountancy skills all come into play. So how can firms identify their training needs and what are the best ways to deliver that training?
Philippa Lamb explores the key issues with Jenny Blewett, Head of Finance at Costello Medical; Daniel Clark, business trainer and writer; and Julia Penny, Director at JS Penny and ICAEW past-President.
Links
- ICAEW technology resources: https://www.icaew.com/technical/technology
- Mid-Tier Tech Forum: digital skills: https://events.icaew.com/pd/30692?code=ijMH8fKJCg
Host
Philippa Lamb
Guests
- Daniel Clark, business trainer and writer
- Julia Penny, Director, JS Penny; ICAEW past-President
- Jenny Blewett, Head of Finance, Costello Medical
Producer
Natalie Chisholm
Episode first published: 30 January 2025
Podcast recorded: 23 January 2025
In this special episode of Accountancy Insights, we look ahead to the most significant events and trends anticipated in 2025.
Last year brought a new UK government and its controversial first Budget. With things now appearing more settled at home, the upcoming inauguration of President Trump in the US and the recent collapse of governments in Europe will bring new opportunities and challenges for the British economy.
For the third year, host Philippa Lamb is joined in forecasting by Iain Wright, ICAEW Managing Director of Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express.
Links
ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- David Williamson, Political Editor, Sunday Express
- Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 3 January 2025
Podcast recorded: 17 December 2024
In this episode of Behind the Numbers, we discuss the progress of sustainability reporting.
Across the globe, sustainability reporting has become increasingly mandated for large organisations. Now, with the CSRD introduced in the European Union and the first two ISSB standards set to be endorsed by the UK, the challenge for accountants lies in ensuring that the quality of non-financial information matches that of financial information.
To discuss the key issues, Philippa Lamb is joined by Richard Spencer, ICAEW Director of Sustainability; David Wray, founder of ESG consultancy DWG and IESBA Ethics Board member; and Marie-Josée Privyk, ESG coach and adviser.
Links
- ICAEW: Connecting sustainability and finance: https://www.icaew.com/technical/sustainability/resources-collection/connecting-sustainability-and-finance
- ICAEW Sustainability Accelerator Programme: https://www.icaew.com/learning-and-development/icaew-sustainability-accelerator-programme
Host
Philippa Lamb
Guests
- Richard Spencer, Director, Sustainability, ICAEW
- Marie-Josée Privyk, ESG coach and adviser
- David Wray, Founder, DWG; IESBA Ethics Board member
Producer
Natalie Chisholm
Episode first published: 12 December 2024
Podcast recorded: 5 December 2024
In this episode, we speak to Ray McCann, fresh from delivering this year’s Hardman Lecture on Monday 25 November, about regulating the provision of tax advice. Plus, Sophie Wales, ICAEW Director of Regulatory Policy, explains upcoming changes to the ICAEW Code of Ethics around professional behaviour.
Time codes
- 00:55 Regulating tax advice
- 08:09 New professional behaviour wording
Links
- ICAEW: Hardman Lecture shines spotlight on ‘shadow’ tax advisers: https://www.icaew.com/insights/tax-news/2024/nov-2024/hardman-lecture-shines-spotlight-on-shadow-tax-advisers
- ICAEW: The new Code of Ethics: understanding professional behaviour: https://www.icaew.com/insights/viewpoints-on-the-news/2024/nov-2024/the-new-code-of-ethics-understanding-professional-behaviour
Host
Philippa Lamb
Reporter
Mark Rowland
Guests
- Ray McCann, Consultant, Charter Tax
- Sophie Wales, Director of Regulatory Policy, ICAEW
Producer
Natalie Chisholm
Episode first published: 2 December 2024
Podcast recorded: 25 November 2024
In this episode of Behind the Numbers, we discuss whether the filing of local authority audited accounts will ever get back on track.
Just 1% of local bodies published audited accounts on time for the 2022/23 [LE1] financial year. Now, the government has introduced backstop dates in the hopes of resetting the system, with the first arriving on 13 December. But will they anything change? And how should local authorities be managing the external audit process to ensure timely filing?
To answer those questions, host Philippa Lamb is joined by Alison Ring, ICAEW Director of Public Sector and Taxation; Cecilie Booth, Executive Director of Resources at Peterborough City Council; and Paul Dossett, Head of Public Sector, London and South East, at Grant Thornton UK.
Links
- ICAEW Public Sector Conference: https://www.icaew.com/learning-and-development/events/public-sector-conference
- ICAEW Local government finance: skills for the future: https://www.icaew.com/technical/public-sector/public-sector-financial-management/local-government-finance-skills-for-the-future
- ICAEW Public Sector Community: https://www.icaew.com/groups-and-networks/communities/public-sector
- ICAEW vision for local audit: https://www.icaew.com/technical/public-sector/public-sector-audit-and-assurance/uk-public-sector-audit/icaew-vision-for-local-audit
Host
Philippa Lamb
Guests
- Alison Ring, Director, Public Sector and Taxation, ICAEW
- Cecilie Booth, Executive Director of Resources, Peterborough City Council
- Paul Dossett, Head of Public Sector Assurance, London and South East, Grant Thornton UK
Producer
Natalie Chisholm
Episode first published: 21 November 2024
Podcast recorded: 14 November 2024
In this special episode of Accountancy Insights, we discuss whether the Autumn Budget will provide a much-needed shot in the arm for business confidence and investment activity.
Philippa Lamb is joined by Iain Wright, Managing Director, Reputation and Influence, ICAEW; Frances Haque, Chief Economist, Santander UK; and David Williamson, Political Editor, Sunday Express.
Links
- ICAEW: Autumn Budget 2024: https://www.icaew.com/technical/economy/autumn-budget-2024
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- Frances Haque, Chief Economist, Santander UK
- David Williamson, Political Editor, Sunday Express
Producer
Natalie Chisholm
Episode first published: 1 November 2024
Podcast recorded: 31 October 2024
In this episode of Behind the Numbers, we discuss how the use of new technologies by criminals is putting businesses at risk.
A recent Europe-wide report found that 40% of chief internal auditors cited artificial intelligence as a top five business-critical risk. So, how can professionals protect themselves and their employers? And what can SMEs with tighter budgets do to combat this threat?
Host Philippa Lamb is joined by Ian Pay, Head of Data Analytics and Tech at ICAEW; Mark Turner, Chief Technology Officer at cyber security specialists Mitigo; and Paul Munson, EU Compliance Lead at workplace software provider Rippling and previously of the Financial Conduct Authority, Serious Fraud Office and HMRC.
Links
- ICAEW artificial intelligence hub: https://www.icaew.com/technical/technology/artificial-intelligence
- ICAEW cyber security hub: https://www.icaew.com/technical/technology/cyber-security
Host
Philippa Lamb
Guests
- Ian Pay, Head of Data Analytics and Tech, ICAEW
- Mark Turner, Chief Technology Officer, Mitigo
- Paul Munson, EU Compliance Lead, Rippling
Producer
Natalie Chisholm
Episode first published: 18 October 2024
Podcast recorded: 11 October 2024
In this episode, we recap revisions to ISA 600 on group audit, and we discuss the likely contents of the AI Bill that is expected to be brought to Parliament before the end of the year.
Philippa Lamb is joined by Catherine Hardinge, Partner at Price Bailey; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW.
Time codes
- 00:30 Group audit
- 06:18 AI Bill
Links
- ICAEW: Reminders on group audit: https://www.icaew.com/technical/audit-and-assurance/faculty-resources/audit-and-beyond/2024/articles/reminders-on-group-audit
- ICAEW Artificial intelligence hub: https://www.icaew.com/technical/technology/artificial-intelligence
Host
Philippa Lamb
Guests
- Catherine Hardinge, Partner, Price Bailey
- Oliver Nelson-Smith, Tech Policy Manager, ICAEW
Producer
Natalie Chisholm
Episode first published: 7 October 2024
Podcast recorded: 30 September 2024
In this episode of Behind the Numbers, we discuss the introduction of tourism taxes in the UK.
During 2024, such taxes have been introduced in Manchester, Poole, Bournemouth and Brighton. Now, Edinburgh City Council has put forward draft proposals for a visitor levy scheme, which would charge visitors 5% of their accommodation costs per night for up to a week. But how useful are tourism taxes in practice? And what do local people make of them?
To answer those questions, host Philippa Lamb is joined by Clare Beck, Chair of the ICAEW Scotland Board; internal auditor Jim Orr; Rhys Ap Gwilym, Senior Lecturer in Economics at Bangor University; and Suth Rathmell, Partner in Indirect Tax at MHA.
Links
- ICAEW Scotland: https://www.icaew.com/groups-and-networks/local-groups-and-societies/scotland-ds
- The Conversation: ‘Why you should expect to pay more tourist taxes – even though the evidence for them is unclear’: https://theconversation.com/why-you-should-expect-to-pay-more-tourist-taxes-even-though-the-evidence-for-them-is-unclear-229134
- Welsh Government: ‘Comparative analysis of the tax systems faced by the visitor economies in selected countries’: https://www.gov.wales/comparative-analysis-tax-systems-faced-visitor-economies-selected-countries
Host
Philippa Lamb
Guests
- Clare Beck, Chair, ICAEW Scotland Board
- Jim Orr, Internal Auditor
- Rhys Ap Gwilym, Senior Lecturer, Economics, Bangor University
- Sue Rathmell, Partner, Indirect Tax, MHA
Producer
Natalie Chisholm
Episode first published: 25 September 2024
Podcast recorded: 17 September 2024
In this episode, we discuss the available guidance on, and the application of general principles to, the taxation of cryptoassets; as well as how auditors should be acting on their obligation to report suspicions of fraud to the regulator.
Philippa Lamb is joined by Richard Jones, Senior Technical Manager in Tax Policy at ICAEW; Dion Seymour, Crypto and Digital Assets Technical Director at Andersen; and Reuben Wales, Head of Financial Services at ICAEW.
Time codes
- 00:38 Taxing cryptoassets
- 10:52 Reporting suspicions of fraud
Links
- ICAEW TAXline: The basics of taxing cryptoassets: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-basics-of-taxing-cryptoassets
- ICAEW TAXguide 01/2024: Taxation of cryptoassets for individuals: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-01-24
- ICAEW TAXguide 02/2024: Taxation of cryptoassets for businesses: https://www.icaew.com/technical/tax/tax-faculty/taxguides/2024/taxguide-02-24
- Financial Reporting Council: ISA (UK) 240: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-240/
- Financial Reporting Council: ISA (UK) 250 Section A: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-250-section-a/
- Financial Reporting Council: ISA (UK) 250 Section B: https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditing-standards/isa-uk-250-section-b/
Host
Philippa Lamb
Guests
- Richard Jones, Senior Technical Manager, Tax Policy, ICAEW
- Dion Seymour, Crypto and Digital Assets Technical Director, Andersen
- Reuben Wales, Head of Financial Services, ICAEW
Producer
Natalie Chisholm
Episode first published: 9 September 2024
Podcast recorded: 2 September 2024
In this episode of Behind the Numbers, we discuss ways to improve recruitment and retention in accountancy.
While the pipeline of new joiners remains healthy, holding onto qualified staff is proving challenging. New research by ICAEW on mid-tier firms demonstrates just how significant the issue is – with 70% of participants identifying talent as their most significant challenge. So, what needs to happen for more professionals to view accountancy as a long-term career choice?
To explore the key issues, host Philippa Lamb is joined by Kat Hearn, Senior Technical Manager at ICAEW; Androulla Soteri, Chief People Officer at Dains Accountants; and Lola Abitogun, who qualified as a chartered accountant before establishing Alchemy HR.
Links
- ICAEW: Evolution of mid-tier accountancy firms
https://www.icaew.com/technical/practice-resources/evolution-of-mid-tier-accountancy-firms
Host
Philippa Lamb
Guests
- Kat Hearn, Senior Technical Manager, ICAEW
- Androulla Soteri, Chief People Officer, Dains Accountants
- Lola Abitogun, Founder, Alchemy HR
Producer
Natalie Chisholm
Episode first published: 23 August 2024
Podcast recorded: 15 August 2024
In this bumper episode, we discuss the latest findings of ICAEW’s Business Confidence Monitor and why three-quarters of councils in England are at least a year behind in publishing audited accounts. Plus, we hear an update on the probate service and explore ICAEW’s recommendations for the new government’s business tax road map.
Philippa Lamb is joined by Iain Wright, Managing Director of Reputation and Influence; Alison Ring, Director of Public Sector and Taxation; Sophie Wales, Director of Regulatory Policy; and Richard Jones, Senior Technical Manager in Tax Policy.
Time codes
- 00:58 ICAEW Business Confidence Monitor
- 10:33 Local authority finances
- 17:21 Probate service
- 24:52 Business taxation
Links
- ICAEW Business Confidence Monitor: https://www.icaew.com/bcm
- ICAEW probate hub: https://www.icaew.com/probate
- ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty
- ICAEW TAXline: https://www.icaew.com/taxline
- ICAEW Budget submissions: taxfac@icaew.com
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- Alison Ring, Director, Public Sector and Taxation, ICAEW
- Sophie Wales, Director, Regulatory Policy, ICAEW
- Richard Jones, Senior Technical Manager, Tax Policy, ICAEW
Producer
Natalie Chisholm
Episode first published: 12 August 2024
In this episode of Behind the Numbers, we discuss gender inequality in investment.
Women continue to be underrepresented in venture capital, particularly at senior levels. The scales are even less balanced for female founders, who received just 2% of venture capital funding in recent years. As the new government puts productivity and growth at the top of its national agenda, how do we get things moving?
Philippa Lamb is joined by entrepreneur and chartered accountant Tanuvi Ethunandan; Helen Burnell, Partner at law firm Shoosmiths; and Suzi Gillespie, Head of Research at the British Private Equity & Venture Capital Association.
Links
- ICAEW Women in Finance Community: https://www.icaew.com/groups-and-networks/communities/join-women-in-finance-community
Host
Philippa Lamb
Guests
- Tanuvi Ethunandan, entrepreneur and product manager
- Helen Burnell, Partner, Shoosmiths
- Suzi Gillespie, Head of Research, British Private Equity & Venture Capital Association
Producer
Natalie Chisholm
Episode first published: 2 August 2024
Podcast recorded: 26 July 2024
One week on from the general election, this special episode of Accountancy Insights discusses the policies of the new UK government.
The Labour Party has taken power with a sweeping victory not seen since 1997. Now, it faces the same challenge that successive governments have struggled to tackle: kickstarting the UK economy. With little room for manoeuvre in the public finances, can anything move the dial when it comes to boosting growth?
Guest host Iain Wright is joined by Frances Haque, Chief Economist at Santander UK, and David Williamson, Political Editor at the Sunday Express.
Links
- ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024
- ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
Host
Iain Wright, Managing Director, Reputation and Influence, ICAEW
Guests
- Frances Haque, Chief Economist, Santander UK
- David Williamson, Political Editor, Sunday Express
Producer
Natalie Chisholm
Episode first published: 12 July 2024
Podcast recorded: 11 July 2024
In this episode of Behind the Numbers, we discuss strategies to prevent and tackle groupthink at board level.
By suppressing debate and disrupting effective decision-making, groupthink poses a significant governance challenge for firms. Notably, the recent scandal over fee transparency at wealth manager St James’s Place – which has set aside £426m for client refunds – has been blamed on groupthink in the boardroom.
Philippa Lamb examines ways forward with Baroness Helena Morrissey, financier and former Non-Executive Director at St James’s Place; Peter van Veen, Director of Corporate Governance and Stewardship at ICAEW; and Kevin Davidson, CEO of leadership consultants Norman Broadbent.
Links
- Tackling groupthink – why stupid questions don’t exist: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jun-2024/tackling-groupthink-why-stupid-questions-dont-exist
Host
Philippa Lamb
Guests
- Baroness Helena Morrissey, financier
- Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW
- Kevin Davidson, CEO, Norman Broadbent
Producer
Natalie Chisholm
Episode first published: 28 July 2024
Podcast recorded: 21 July 2024
In this episode, we discuss important developments in corporate reporting, including amendments to UK GAAP, new standards IFRS18 and IFRS19, and the timeline for implementing IFRS S1 and IFRS S2. We also discuss the evolving VAT treatment of private hire vehicles as a result of recent court cases and how the Treasury may seek to respond.
Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy, and Ed Saltmarsh, Technical Manager, VAT and Customs.
Links
- Be part of ICAEW Corporate Reporting: https://www.icaew.com/joincrf
- ICAEW: The road ahead for VAT and PHVs: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-road-ahead-for-vat-and-phvs
Host
Philippa Lamb
Guests
- Sally Baker, Head of Corporate Reporting Strategy, ICAEW
- Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW
Producer
Natalie Chisholm
Episode first published: 5 June2024
Podcast recorded: 3 June 2024
In this ICAEW Insights In Focus episode, we discuss the use of artificial intelligence in audit.
Depending on who you talk to, generative AI is either going to revolutionise the way auditors work or replace certain roles in the sector entirely. The truth probably lies somewhere in between. So, how are auditors beginning to use AI? And how can practices sift marketing fact from fiction and navigate the risks introduced by using AI tools?
To answer those questions, Philippa Lamb is joined by Konrad Bukowski-Kruszyna, Audit Data Analytics Director at RSM UK; Fay Bordbar, Global Digital Skills Lead at Mazars; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW
Links
- ICAEW - Generative AI Guide: https://www.icaew.com/technical/technology/artificial-intelligence/generative-ai-guide
- ICAEW - Finance in a Digital World: https://www.icaew.com/technical/technology/finance-in-a-digital-world
Host
Philippa Lamb
Guests
- Konrad Bukowski-Kruszyna, Audit Data Analytics Director, RSM UK
- Fay Bordbar, Global Digital Skills Lead, Mazars
- Oliver Nelson-Smith, Tech Policy Manager, ICAEW
Producer
Natalie Chisholm
Episode first published: 29 May 2024
Podcast recorded: 23 May 2024
In this episode of the ICAEW Insights podcast, we discuss upcoming changes to company size thresholds and what they mean for reporting requirements. Plus, with capital gains tax in the headlines, we explore the rules and restrictions when it comes to selling residential property.
Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy, and Caroline Miskin, Senior Technical Manager in Digital Taxation.
Links
- ICAEW: By All Accounts: https://www.icaew.com/technical/corporate-reporting/corporate-reporting-resources/by-all-accounts
- ICAEW: TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline
Host
Philippa Lamb
Guests
- Sally Baker, Head of Corporate Reporting Strategy, ICAEW
- Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW
Producer
Natalie Chisholm
Episode first published: 10 May 2024
Podcast recorded: 1 May 2024
In this special episode of Insights In Focus, we meet new ICAEW CEO Alan Vallance to discuss the leadership lessons of his career.
Alan is an ICAEW Chartered Accountant and joined the Institute as CEO in April 2024. His career has spanned various sectors and countries, as well as detailed experience in leading membership bodies RIBA and the Chartered Insurance Institute in recent years.
In this conversation with Philippa Lamb, Vallance shares how his career journey has shaped his approach to leadership – from qualifying as an ACA at Ernst & Whinney (now EY) to working in post-Soviet Hungary and his 15 years with Australia Post at a time of early digitalisation.
Links
- How the profession can embrace change, according to ICAEW’s new CEO: https://www.icaew.com/insights/viewpoints-on-the-news/2024/apr-2024/how-the-profession-can-embrace-change-according-to-icaews-new-ceo
Host
Philippa Lamb
Guest
Alan Vallance, CEO, ICAEW
Producer
Natalie Chisholm
Episode first published: 3 May 2024
Podcast recorded: 25 April 2024
In this Insights In Focus episode, we discuss how accountants can build the skills needed to take on leadership and executive roles during their careers.
In a recent report by the Financial Times, one anonymous headhunter was quoted as saying: “If America is run by lawyers, then the UK is run by accountants.” It’s backed up by the data, too: around one-third of today’s FTSE 100 CEOs have previously served as CFOs in their careers. But what makes finance professionals a good fit for the top spot? And what skills beyond financial prowess will help them make a success of it?
To answer those questions, host Philippa Lamb is joined by Sarah Walker-Smith, CEO of legal and professional services group Ampa; Joe Dubbin, Managing Director of executive search firm Cripps Leadership Advisors; and Melanie Coeshott, career coach and mentor at Blue Diamond.
Links
- ICAEW Academy: https://www.icaew.com/learning-and-development/academy
- ICAEW: The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track
- ICAEW Student Insights podcast: https://www.icaew.com/insights/student-insights/podcast
Host
Philippa Lamb
Guests
- Sarah Walker-Smith, CEO, Ampa
- Joe Dubbin, Managing Director, Cripps Leadership Advisors
- Melanie Coeshott, career coach, Blue Diamond
Producer
Natalie Chisholm
Episode first published: 17 April 2024
Podcast recorded: 12 April 2024
In this episode, we discuss why the arrival of the 2024/25 tax year is particularly busy for accountants, and the main changes to be aware of from 6 April. Plus, six months on from the passing of the Economic Crime and Corporate Transparency Act, we learn what progress has been made to enact its various provisions.
To shed light on those two topics, Philippa Lamb is joined by Stephen Relf, Technical Manager, Tax, and Sally Baker, Head of Corporate Reporting Strategy.
Links
- ICAEW: The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track
- ICAEW: Tax changes taking effect from April 2024: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/tax-changes-taking-effect-from-april-2024
- ICAEW: Economic crime hub: https://www.icaew.com/technical/trust-and-ethics/economic-crime
- Economic Crime and Corporate Transparency Act 2023: the story so far: https://www.youtube.com/watch?v=UAZWpeLR_T0
Host
Philippa Lamb
Guests
- Stephen Relf, Technical Manager, Tax, ICAEW
- Sally Baker, Head of Corporate Reporting Strategy, ICAEW
Producer
Natalie Chisholm
Episode first published: 5 April 2024
Podcast recorded: 26 March 2024
In this Insights In Focus episode, we discuss how changes to the funding of British farms could affect the UK’s broader economic resilience.
As a result of Brexit, British farms will stop benefiting from the EU Common Agricultural Policy by the end of 2027. The policy paid subsidies largely regardless of land use. Now, farmers need to transition to new schemes established by the UK’s devolved administrations. These require farms to meet environmental requirements such as hedge management, rewilding and tree-planting, which critics say will have a negative impact on food production and reduce the UK’s resilience to market shocks.
To discuss the future of British farming, host Philippa Lamb is joined by David Missen, consultant at Larking Gowen, and Roseanne Bennett, partner at Greaves West & Ayre.
Links
- ICAEW Farming & Rural Business Community: https://www.icaew.com/technical/farming-and-rural-business
Host
Philippa Lamb
Guests
- David Missen, consultant, Larking Gowen
- Roseanne Bennett, partner, Greaves West & Ayre
Producer
Natalie Chisholm
Episode first published: 22 March 2024
Podcast recorded: 11 March 2024
In this Insights In Focus episode, we discuss the contents of the 2024 Spring Budget and their likely impacts on the UK economy.
The Spring Budget was delivered against the backdrop of recession and persistent inflation. While the Chancellor had better-than-expected headroom for delivering tax cuts, the UK economy and its public finances are still navigating a difficult road to recovery. And, with a general election taking place within the year, will anything announced on 6 March have an impact on public sentiment?
Host Philippa Lamb breaks down the Spring Budget with Iain Wright, ICAEW Managing Director, Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express.
Links
- ICAEW: Spring Budget 2024: https://www.icaew.com/technical/economy/spring-budget-2024
- ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024
- ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
- ICAEW Resilience and Renewal hub: https://www.icaew.com/technical/economy/resilience-and-renewal
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- David Williamson, Political Editor, Sunday Express
- Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 8 March 2024
Podcast recorded: 7 March 2024
In this Insights In Focus episode, we catch up with ICAEW Chief Executive Michael Izza ahead of his stepping down from his role later this month.
Izza has been with ICAEW since 2002 and Chief Executive since 2006. In that time, he’s steered the Institute through the global financial crisis, the pandemic and the early stages of a global technological revolution.
Host Philippa Lamb discusses with Izza the fresh challenges and opportunities facing the profession, as well as what he will be taking away from his time at ICAEW.
Links
- ICAEW Insights: https://www.icaew.com/insights
- ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024
- ICAEW - Alan Vallance announced as new ICAEW Chief Executive: https://www.icaew.com/insights/viewpoints-on-the-news/2023/oct-2023/alan-vallance-announced-as-new-icaew-chief-executive
Host
Philippa Lamb
Guest
Michael Izza, Chief Executive, ICAEW
Producer
Natalie Chisholm
Episode first published: 1 March 2024
Podcast recorded: 22 February 2024
In this episode, we discuss how firms can maintain momentum on the International Standard of Quality Management, as well as changes in preparation and filing as a result of the Economic Crime and Corporate Transparency Act. We also hear about ICAEW’s new podcast, The Tax Track, and changes to the Engaging in Public Practice certificate.
Philippa Lamb is joined by Alex Russell, Head of Audit and Assurance Strategy; Sally Baker, Head of Corporate Reporting Strategy; Lindsey Wicks, Senior Technical Manager for Tax Policy; and Chris Greenhalgh, Manager in Professional Standards.
Links
- ICAEW - Quality management in audit firms: https://www.icaew.com/technical/audit-and-assurance/audit/quality-management-in-audit-firms
- ICAEW Corporate Reporting faculty: https://www.icaew.com/groups-and-networks/faculties/corporate-reporting-faculty
- ICAEW - By All Accounts: https://www.icaew.com/technical/corporate-reporting/corporate-reporting-resources/by-all-accounts
- Changes to accounts preparation and filing requirements: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jan-2024/changes-to-accounts-preparation-and-filing-requirements
- ICAEW - The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track
- ICAEW - TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline
- ICAEW - Practising certificates: https://www.icaew.com/technical/practice-resources/practising-certificates
Host
Philippa Lamb
Guests
- Alex Russell, Head of Audit and Assurance Strategy, ICAEW
- Sally Baker, Head of Corporate Reporting Strategy, ICAEW
- Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
- Christopher Greenhalgh, Manager, Professional Standards, ICAEW
Producer
Natalie Chisholm
Episode first published: 9 February 2024
Podcast recorded: 5 February 2024
In this Insights In Focus episode, we discuss the future of audit and corporate governance reform.
Back in May 2022, after years of reviews and consultations, the government announced its plans for reform. The key proposals included the area of a new audit regulator, a wider definition of public interest entities, and ensuring that FTSE 350 firms would not be wholly reliant on the largest audit firms.
However, nearly two years on, very little has changed. Corporate governance reform was quietly dropped by the government in October 2023, and audit reform was notably absent from the King’s Speech the following month. So, what happens now?
Host Philippa Lamb is joined by Iain Wright, ICAEW Managing Director of Reputation and Influence; Darren Jordan, Partner at Moore Kingston Smith; and Maria Kepa, EY Director in Corporate Governance.
Links
- ICAEW Audit and Assurance hub: https://www.icaew.com/technical/audit-and-assurance
- ICAEW - Working in the regulated area of audit: https://www.icaew.com/regulation/working-in-the-regulated-area-of-audit
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- Darren Jordan, Partner, Moore Kingston Smith
- Maria Kepa, Director, Corporate Governance, EY
Producer
Natalie Chisholm
Episode first published: 1 February 2024
Podcast recorded: 26 January 2024
In this Insights In Focus episode, we discuss what 2024 is likely to bring for businesses and their accountants.
Beyond a Spring Budget and elections on both sides of the Atlantic, there are few certainties for the coming 12 months. Looking at ICAEW’s Business Confidence Monitor and forecasts from the Office for Budget Responsibility and the Bank of England, 2024 is likely to be another challenging year of low growth and weak business and consumer sentiment. As with recent years, uncertainty is set to be the only constant.
A year on from making their predictions for 2023, host Philippa Lamb is again joined by Iain Wright, ICAEW Managing Director, Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express.
Links
- ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
- ICAEW Resilience and Renewal hub: https://www.icaew.com/technical/economy/resilience-and-renewal
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- David Williamson, Political Editor, Sunday Express
- Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 15 December 2023
Podcast recorded: 11 December 2023
In the second of two special Insights In Focus episodes, guest host Mark Rowland shares news and views from COP28 in Dubai. This episode focuses on capacity building within the finance profession and making the business case for a nature-positive transition.
Mark is joined in the studio by Sarah Reay, Climate Change Manager, ICAEW; Jessica Fries, Executive Chair, A4S; and Mardi McBrien, Chief of Strategic Affairs and Capacity Building, IFRS Foundation. Reay and Fries discuss why it is essential that the transition to a sustainable global economy places nature and biodiversity at its heart. And McBrien shares how the IFRS Foundation is driving capacity building and how all accountants can get involved.
Access ICAEW’s Making COP Count content series for more insights on sustainability and the topics covered in this episode.
Links
- ICAEW: Making COP Count: http://www.icaew.com/making-cop-count
Host
Mark Rowland
Guests
- Sarah Reay, Climate Change Manager, ICAEW
- Jessica Fries, Executive Chair, A4S
- Mardi McBrien, Chief of Strategic Affairs and Capacity Building, IFRS Foundation
Producer
Natalie Chisholm
Episode first published: 11 December 2023
Podcast recorded: 9 December 2023
In the first of two special Insights In Focus episodes, guest host Mark Rowland shares news and views from COP28 in Dubai. This episode focuses on the importance of transition plans in achieving net zero.
In the studio, ICAEW Climate Change Manager Sarah Reay and Resilience First’s Shazre Quamber-Hill explain why transition planning is a vital part of the COP28 agenda. And on the conference floor, LSE Professor Nick Robins and the Transition Plan Taskforce’s Nina Pimblett discuss the role that accountants and business will play in putting plans into action.
Access ICAEW’s Making COP Count content series for more insights on sustainability.
Links
- ICAEW: Making COP Count: http://www.icaew.com/making-cop-count
Host
Mark Rowland
Guests
- Sarah Reay, Climate Change Manager, ICAEW
- Shazre Quamber-Hill, Director, Strategy and Impact, Resilience First
- Nick Robins, Professor in Practice for Sustainable Finance, London School of Economics and Political Science
- Nina Pimblett, Sector Guidance Lead, Transition Plan Taskforce
Producer
Natalie Chisholm
Episode first published: 5 December 2023
Podcast recorded: 4 December 2023
In this Insights In Focus episode, we explore the contents and implications of the Economic Crime and Corporate Transparency Act 2023.
After a challenging route through Parliament, the Act finally received Royal Assent in late October. It promises sweeping changes to Companies House and reporting requirements for SMEs. Crucially, it also covers where accountability will lie for economic crime. Many of the details are yet to be ironed out, but it’s clear that accountants will take on much of the responsibility for delivering these changes.
Host Philippa Lamb discusses what accountants need to know with Mike Miller, ICAEW Economic Crime Manager; Alun Milford, Partner at Kingsley Napley and former General Counsel at the Serious Fraud Office; and Alice Bessell, Finance Director at Brown & Bright.
Links
- ICAEW Economic Crime hub: https://www.icaew.com/technical/trust-and-ethics/economic-crime
Host
Philippa Lamb
Guests
- Mike Miller, Economic Crime Manager, ICAEW
- Alun Milford, Partner, Kingsley Napley
- Alice Bessell, Finance Director, Brown & Bright
Producer
Natalie Chisholm
Episode first published: 4 December 2023
Podcast recorded: 29 November 2023
The ICAEW Insights podcast explores the month’s top stories in accountancy.
In this episode, we explain how ICAEW members can apply for dual membership with the Chartered Institute of Public Finance and Accountancy (CIPFA). We also discuss the key points and learnings from this year’s Cyber Security Awareness Month and hear how ICAEW’s Resilience and Renewal campaign is progressing.
Philippa Lamb is joined by Will Holt, Managing Director of Education and Training; Bani Lamba, Data Analytics and Tech Manager; and Suren Thiru, Economies Director.
Links
- ICAEW: Dual membership expression of interest form: https://www.icaew.com/about-icaew/who-we-are/accelerated-route-to-gain-aca-and-cpfa-designation-and-dual-membership
- Current route for ICAEW members to join CIPFA: https://www.cipfa.org/join/joining-from-another-membership-organisation
- ICAEW Cyber Security Awareness Month 2023 hub: https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-month
- ICAEW Resilience and Renewal hub: https://www.icaew.com/technical/economy/resilience-and-renewal
Host
Philippa Lamb
Guests
- Will Holt, Managing Director, Education and Training, ICAEW
- Bani Lamba, Data Analytics and Tech Manager, ICAEW
- Suren Thiru, Director, Economies, ICAEW
Producer
Natalie Chisholm
Episode first published: 3 November 2023
Podcast recorded: 26 October 2023
In this Insights In Focus episode, we explore strategies to expand and upskill Britain’s workforce.
Low unemployment is currently twinned with high vacancies, leading to a tight labour market. One cause is an increase in the number of economically inactive. And ICAEW’s Business Confidence Monitor has flagged a lack of non-management skills as an escalating challenge for the nation’s employers.
So, how can we tackle these big, structural problems in the economy? Host Philippa Lamb discusses possible solutions with Suren Thiru, ICAEW Economies Director; Dan Lucy, HR Research and Consulting Director at the Institute for Employment Studies; and April Homer, Chief People Officer at accountancy practice Cooper Parry.
Links
ICAEW Resilience and Renewal hub
https://www.icaew.com/technical/economy/resilience-and-renewal
ICAEW Business Confidence Monitor
https://www.icaew.com/technical/economy/business-confidence-monitor
Host
Philippa Lamb
Guests
Suren Thiru, Director, Economies, ICAEW
Daniel Lucy, Director, HR Research and Consulting, Institute for Employment Studies
April Homer, Chief People Officer, Cooper Parry
Producer
Natalie Chisholm
Episode first published: 27 October 2023
Podcast recorded: 18 October 2023
In this episode, we discuss a new content series recently launched by ICAEW: ‘Resilience and renewal: building an economy fit for the future’.
The campaign explores the main challenges facing the UK economy and how chartered accountants are integral in addressing them. Plus, we share key deadlines for those filing self assessment returns and the penalties that may be handed down should they be missed.
Philippa Lamb is joined by ICAEW’s Suren Thiru, Economies Director, and Mei Lim Cooper, Technical Manager, Personal Tax.
Links
- Resilience and renewal: building an economy fit for the future: https://www.icaew.com/technical/economy/resilience-and-renewal
- UK Regions: Economic Summit (9 November 2023): https://events.icaew.com/pd/27584/uk-regions-economic-summit-9-november-2023
- Self assessment registration deadline approaches: https://www.icaew.com/insights/tax-news/2023/sep-2023/self-assessment-registration-deadline-approaches
Host
Philippa Lamb
Guests
- Suren Thiru, Director, Economies, ICAEW
- Mei Lim Cooper, Technical Manager, Personal Tax, ICAEW
Producer
Natalie Chisholm
Episode first published: 6 October 2023
Podcast recorded: 29 September 2023
In this Insights In Focus episode, we discuss professional ethics and seek to answer the age-old question: why do good people do bad things?
Accountants are increasingly acting as an ethical compass for their employers and clients. It’s a natural fit for a profession that has a deep understanding of business and a professional duty to act in the public interest, but it’s also a weighty responsibility where situations aren’t always black-and-white.
To discuss how accountants can best inhabit this role, as well as ensuring they are acting ethically themselves, host Philippa Lamb is joined by Laura Hough, ICAEW director of trust and ethics, and Christopher Cowton, emeritus professor at the University of Huddersfield and associate of the Institute of Business Ethics.
Links
- ICAEW Ethics hub: https://www.icaew.com/technical/trust-and-ethics/ethics
- ICAEW technical and ethics support: https://www.icaew.com/membership/support-throughout-your-career/technical-and-ethics-support
- ICAEW Continuing Professional Development: https://www.icaew.com/membership/cpd
Host
Philippa Lamb
Guests
- Laura Hough, director, trust and ethics, ICAEW
- Christopher Cowton, emeritus professor, University of Huddersfield; associate, Institute of Business Ethics
Producer
Natalie Chisholm
Episode first published: 29 September 2023
Podcast recorded: 11 September 2023
The ICAEW Insights podcast explores the month’s top stories in accountancy.
In this episode, we discuss Labour’s proposals for removing VAT exemptions from private schools and the disagreement over just how much money it would raise for the public purse. Plus, in our final CPD update before the new regulations come into force on 1 November, we answer ICAEW members’ most frequently asked questions.
Philippa Lamb is joined by ICAEW’s Ed Saltmarsh, Technical Manager, and Liz Shaw, Senior Manager, Professional Standards.
Links
- ICAEW TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline
- ICAEW: Would removing the VAT exemption for private schools make VAT simpler?: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/would-removing-the-vat-exemption-for-private-schools-make-vat-simpler
- ICAEW Continuing Professional Development: https://www.icaew.com/membership/cpd
- ICAEW CPD learning resources: https://www.icaew.com/membership/cpd/cpd-resources
Host
Philippa Lamb
Guests
- Ed Saltmarsh, Technical Manager, ICAEW
- Liz Shaw, Senior Manager, Professional Standards, ICAEW
Producer
Natalie Chisholm
Episode first published: 8 September 2023
Podcast recorded: 4 September 2023
In this Insights In Focus episode, we analyse the health of the UK economy through the lens of the Prime Minister’s pledges for 2023.
Back in January, Prime Minister Rishi Sunak made five pledges for the year ahead. Three of those related to indicators of economic and fiscal health: halving inflation, stimulating growth, and reducing the national debt. With 2024 rapidly approaching, how is the Prime Minister faring in meeting his goals?
Host Philippa Lamb is again joined by Iain Wright, Managing Director, Reputation and Influence, at ICAEW, and Frances Haque, Chief Economist at Santander UK, to discuss the key issues.
Links
- ICAEW Economy hub: https://www.icaew.com/technical/economy
Host
Philippa Lamb
Guests
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
- Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 1 September 2023
Podcast recorded: 29 August 2023
The ICAEW Insights podcast explores the month’s top stories in accountancy.
In this episode, we discuss the contents of the International Sustainability Standards Board’s first two published standards; ICAEW’s role in the newly launched E-Commerce Trade Commission; and firms’ responsibilities under new CPD regulations launching 1 November 2023.
Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy; Ed Saltmarsh, Technical Manager; and Sophie Wales; Head of Regulatory Affairs.
Links
- ICAEW non-financial reporting hub: www.icaew.com/nfr
- ICAEW: By All Accounts: www.icaew.com/byallaccounts
- ICAEW Corporate Reporting Faculty: www.icaew.com/joincrf
- ICAEW joins newly formed E-Commerce Trade Commission: www.icaew.com/insights/tax-news/2023/jun-2023/icaew-joins-newly-formed-e-commerce-trade-commission
- ICAEW: CPD is changing: www.icaew.com/membership/cpd/cpd-is-changing
- ICAEW: Firm responsibilities for revised CPD Regulations: www.icaew.com/membership/cpd/cpd-is-changing/firm-responsibilities-for-revised-cpd-regulations
- ICAEW webinar - CPD is changing, is your firm ready?: https://events.icaew.com/pd/27422/cpd-is-changing-is-your-firm-ready?pk_vid=74016cd0fb237a4716914827100e0ced
Host
Philippa Lamb
Guests
· Sally Baker, Head of Corporate Reporting Strategy, ICAEW
· Ed Saltmarsh, Technical Manager, ICAEW
· Sophie Wales, Head of Regulatory Affairs, ICAEW
Producer
Natalie Chisholm
Episode first published: 11 August 2023
Podcast recorded: 4 August 2023
In this Insights In Focus episode, we analyse the UK’s current economic turbulence through the lens of the commercial property sector.
With capital values down 15% in the last year, has bricks and mortar lost its attractiveness to investors? And, with inflation remaining stubbornly persistent, what do trendlines in the sector tell us about the UK economy as a whole?
Host Philippa Lamb is joined by Suren Thiru, Director of Economies at ICAEW, and Mat Oakley, Head of European commercial research at Savills, to discuss the key issues.
Links
- ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
- ICAEW Commercial Property hub: https://www.icaew.com/technical/business/business-start-up-and-finance/commercial-property
- ICAEW Economy hub: https://www.icaew.com/technical/economy
Host
Philippa Lamb
Guests
- Suren Thiru, Director, Economies, ICAEW
- Mat Oakley, Head of European commercial research, Savills
Producer
Natalie Chisholm
Episode first published: 28 July 2023
Podcast recorded: 24 July 2023
The latest ICAEW Insights podcast shares the month’s top stories in accountancy.
This episode analyses the tax system from two different angles: progress made in digitalisation and towards gender equality. Plus, details of changes to ICAEW member CPD are explored ahead of their November live date.
Philippa Lamb learns more from ICAEW experts Caroline Miskin, Senior Technical Manager, Digital Taxation; Anita Monteith, former Head of Tax Policy; and Debbi Francis, Head of Member Service Centre.
Links
- ICAEW TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline
- TAXline feature - does tax policy reflect gender?: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/does-tax-policy-reflect-gender
- TAXline feature - policymaking for a digitally advanced tax administration: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/policymaking-for-a-digitally-advanced-tax-administration
- ICAEW CPD is changing: https://www.icaew.com/membership/cpd/cpd-is-changing
Host
Philippa Lamb
Guests
- Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW
- Anita Monteith, former Head of Tax Policy, ICAEW
- Debbi Francis, Head of Member Service Centre, ICAEW
Producer
Natalie Chisholm
Episode first published: 7 July 2023
Podcast recorded: 4 July 2023
In this Insights In Focus episode, we explore how the introduction of sustainability assurance, both voluntary and mandatory, is affecting firms of all sizes.
Back in April 2022, the UK became the first G20 nation to bring recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) into law. TCFD requirements only apply to the UK’s largest organisations, but many SMEs are facing pressure from stakeholders to follow suit. And as the sustainability of entire supply chains comes under greater scrutiny, that pressure is only set to intensify.
So, how are firms navigating sustainability assurance at a time of economic instability and tight margins? And what role will accountants play in the transition to wider forms of reporting and disclosure?
Host Philippa Lamb discusses the issues with Richard Spencer, ICAEW Director of Sustainability; Heather Buchanan, Cofounder of Bankers for Net Zero; and Vandana Saxena Poria, ICAEW adviser and member of the B20 Action Council for ESG in Business.
Links
- ICAEW Sustainability hub: https://www.icaew.com/technical/sustainability
- ICAEW Sustainability and Climate Change community: https://www.icaew.com/groups-and-networks/communities/sustainability-and-climate-change
Host
Philippa Lamb
Guests
- Vandana Saxena Poria, ICAEW adviser and B20 Action Council for ESG in Business
- Heather Buchanan, Cofounder, Bankers for Net Zero
- Richard Spencer, Director of Sustainability, ICAEW
Producer
Natalie Chisholm
Episode first published: 30 June 2023
Podcast recorded: 27 June 2023
In this special Insights In Focus episode, we discuss the changes to tax architecture and design that may strengthen the UK’s national bargain as economic turbulence continues.
The national bargain – the broad agreement that taxation is a fair exchange for the provision of public services – has fluctuated over time. Most recently, polling by YouGov found the prevailing attitude among the British public is one of fiscal tightening. However, following unprecedented financial support during the pandemic and cost-of-living crisis, the tax burden is set to continue rising until 2027/28.
That leaves the government with a difficult conundrum: how can it meet people’s expectations around fiscal policy while paying down its debt at a time of slow economic growth?
To explore the best use of tax architecture and design, host Bronwen Maddox is joined by Bill Dodwell, Tax Director at the Office of Tax Simplification; Helen Miller, Deputy Director at the Institute for Fiscal Studies; and Martin Wheatcroft, ICAEW adviser and Fellow.
Links
- ICAEW Insights Special: The future of tax and public spending: https://www.icaew.com/insights/insights-specials/the-future-of-tax-and-public-spending
- ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty
- ICAEW: Can tax policy help the UK achieve net zero?: https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/march-2022/can-tax-policy-help-the-uk-achieve-net-zero
- ICAEW: Taxation of housing: https://www.icaew.com/technical/tax/tax-faculty/taxline/archive/taxline/taxline-2022/october-2022/taxation-of-housing
- ICAEW: Taxing top incomes: design issues and challenges beyond politics: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/taxing-top-incomes-design-issues-and-challenges-beyond-politics
Host
Bronwen Maddox, CEO, Chatham House
Guests
- Bill Dodwell, Tax Director, Office of Tax Simplification
- Helen Miller, Deputy Director, Institute for Fiscal Studies
- Martin Wheatcroft, adviser and Fellow, ICAEW
Producer
Natalie Chisholm
Episode first published: 16 June 2023
Podcast recorded: 12 June 2023
On the latest ICAEW Insights podcast, we explore the month’s key developments in accountancy.
This episode discusses the findings of the government’s Cyber Security Breaches Survey, how hybrid working is affecting the taxation of greener forms of transport, and the release of public finance figures for April 2023.
Philippa Lamb goes beyond the headlines with Ian Pay, Head of Data Analytics and Tech, ICAEW; Steve Wade, Partner in People Advisory Services, EY; and Martin Wheatcroft, ICAEW adviser and Fellow.
Links
- ICAEW: Cyber security: How to keep your organisation safe and secure online: https://www.icaew.com/technical/technology/cyber-security/cyber-security-guidance/cyber-security-how-to-keep-your-organisation-safe-and-secure-online
- ICAEW May cyber round-up: https://www.icaew.com/insights/viewpoints-on-the-news/2023/may-2023/ICAEW-May-cyber-roundup
- ICAEW: Incentivising green travel in a hybrid working world: https://www.icaew.com/technical/tax/tax-faculty/taxline/2023/articles/incentivising-green-travel-in-a-hybrid-working-world
- ICAEW TAXline hub: https://www.icaew.com/technical/tax/tax-faculty/taxline
- ICAEW public sector resources: https://www.icaew.com/technical/public-sector
Host
Philippa Lamb
Guests
- Ian Pay, Head of Data Analytics and Tech, ICAEW
- Steve Wade, Partner, People Advisory Services, EY
- Martin Wheatcroft, adviser and Fellow, ICAEW
Producer
Natalie Chisholm
Episode first published: 9 June 2023
Podcast recorded: 2 June 2023
In this Insights In Focus episode, we discuss best practice in hiring, training and safeguarding talent under hybrid working.
It has been more than three years since the pandemic saw office workers decamp to living rooms, kitchens and bedrooms, upending decades of established working practices. Now, hybrid working is the norm and considered essential in recruiting and retaining staff.
While the rapid pace of change may have slowed, organisations are still grappling with how talent and people management practices must evolve to accommodate the new normal. How can staff be inducted, upskilled and safeguarded when physically dispersed?
To learn more, host Philippa Lamb is joined by those leading the way forward: Nick Bishop, partner at BKL; Kevan Hall, CEO at Global Integration; and Jo Ludlam, Senior Manager in change management at Deloitte.
Links
- ICAEW Attractiveness of the profession hub: https://www.icaew.com/about-icaew/who-we-are/attractiveness-of-the-profession
Host
Philippa Lamb
Guests
- Nick Bishop, partner, BKL
- Kevan Hall, CEO, Global Integration
- Jo Ludlam, Senior Manager in change management, Deloitte
Producer
Natalie Chisholm
Episode first published: 25 May 2023
Podcast recorded: 18 May 2023
On the latest ICAEW Insights podcast, we discuss the month’s key developments in accountancy.
This episode examines VAT as the tax reaches its 50th birthday, announcements made by the government at Tax Administration and Maintenance Day on 27 April, and upcoming changes to ICAEW’s statement on engaging in public practice.
Philippa Lamb is joined by the experts at ICAEW to learn more: Ed Saltmarsh, Technical Manager; Anita Monteith, Head of Tax Policy; and Christopher Greenhalgh, Manager, Quality Assurance Department.
Links
- ICAEW event: VAT at 50 – where next?: https://events.icaew.com/pd/26356/vat-at-50-where-next
- ICAEW: Happy birthday, VAT: https://www.icaew.com/insights/tax-news/2023/mar-2023/happy-birthday-vat
- ICAEW: VAT as a digital tax: HMRC needs a roadmap: https://www.icaew.com/insights/viewpoints-on-the-news/2023/mar-2023/vat-as-a-digital-tax-hmrc-needs-a-roadmap
- ICAEW: Tax administration and maintenance day: summary of announcements: https://www.icaew.com/insights/tax-news/2023/apr-2023/tax-administration-and-maintenance-day-summary-of-announcements
- ICAEW: Engaging in public practice: https://www.icaew.com/technical/practice-resources/setting-up-a-practice/engaging-in-public-practice
- ICAEW statement on engaging in public practice: https://www.icaew.com/regulation/icaew-statement-on-engaging-in-public-practice-effective-1-jan-2017
Host
Philippa Lamb
Guests
- Ed Saltmarsh, Technical Manager
- Christopher Greenhalgh, Manager, Quality Assurance Department
- Anita Monteith, Head of Tax Policy
Producer
Natalie Chisholm
Episode first published: 5 May 2023
Podcast recorded: 2 May 2023
In this Insights In Focus episode, we discuss the obstacles and incentives to SME investment.
In recent years, a string of crises and ongoing economic uncertainty has dampened investment across the board. Office for National Statistics figures show that business investment remains lower than pre-pandemic levels and fell 0.2% in Q4 2022.
The March Budget attempted a shot in the arm by announcing three years’ capital expensing, but questions remain over whether SMEs can access the finance they need to make their investment plans a reality.
Host Philippa Lamb is joined by Simon Gray, ICAEW Head of Business, and executives from three tech-intensive SMEs: Adam Lauffer, Deputy CEO of Doddle; Tanuvi Ethunandan, CEO of Data Duopoly; and Ciaran Burke, COO of Swoop.
Links
- ICAEW Small and Micro Business Community: https://www.icaew.com/groups-and-networks/communities/small-and-micro-business-community
- ICAEW Insights Special: Cost of doing business: https://www.icaew.com/technical/economy/cost-of-doing-business
- ICAEW: Business start-up and finance: https://www.icaew.com/technical/business/business-start-up-and-finance
Host
Philippa Lamb
Guests
- Simon Gray, Head of Business, ICAEW
- Adam Lauffer, Deputy CEO, Doddle
- Tanuvi Ethunandan, founder and CEO, Data Duopoly
- Ciaran Burke, co-founder and COO, Swoop
Producer
Natalie Chisholm
Episode first published: 28 April 2023
Podcast recorded: 21 April 2023
In this special Insights In Focus episode, we discuss how the UK’s changing demographics are having an impact on public finances and policymaking.
The latest census revealed that almost a quarter of the UK’s population is now aged 60 or over. Meanwhile, recent research claims NHS spending will have to increase yearly by 3% to meet demand. There’s also a growing need to lay out plans for funding effective adult social care.
Finding politically sensitive and financially viable solutions is made all the more challenging by the impact of successive crises on public finances and the UK economy. How can the government meet this growing demand for services when it is committed to restricting spending?
To discuss the options available to policymakers, host Bronwen Maddox is joined by David Miles, Professor of Financial Economics at Imperial College and member of the Budget Responsibility Committee at the Office for Budget Responsibility; Carl Emmerson, Deputy Director of the Institute for Fiscal Studies; and Martin Wheatcroft, ICAEW adviser and fellow.
Links
- ICAEW Tax Faculty https://www.icaew.com/technical/tax/tax-faculty
- ICAEW Insights Special: The future of tax and public spending https://www.icaew.com/insights/insights-specials/the-future-of-tax-and-public-spending
Host
Bronwen Maddox, CEO, Chatham House
Guests
- David Miles, Professor of Financial Economics at Imperial College; member of the Budget Responsibility Committee at the Office for Budget Responsibility
- Carl Emmerson, Deputy Director, Institute for Fiscal Studies
- Martin Wheatcroft, adviser and fellow, ICAEW
Producer
Natalie Chisholm
Episode first published: 24 April 2023
Podcast recorded: 24 March 2023
On the latest ICAEW Insights podcast, we examine how recent developments are affecting the accountancy profession.
This month, we discuss the responsible use of generative artificial intelligence tools such as ChatGPT; the impact of rising corporation tax and changing R&D credits; and how to get involved in the FRED 82 consultation on UK GAAP.
Philippa Lamb is joined by the experts at ICAEW to learn more: Sally Baker, Head of Corporate Reporting Policy; Lindsey Wicks, Technical Editor; and John Pearce, Director of Digital and Publishing.
Links
· ChatGPT and accountancy: know its limits | ICAEW
· Corporation tax rate to increase to 25% from 1 April 2023 | ICAEW
· What is happening in the world of R&D tax relief? | ICAEW
· ICAEW responds to proposed merger of R&D schemes | ICAEW
· Budget for growth: ICAEW's Tax Faculty assesses key measures | ICAEW
· Key measures in Spring Finance Bill 2023 | ICAEW
· TAXline | ICAEW
· Periodic review of UK GAAP | ICAEW
· By All Accounts | ICAEW
· FRED 82 hub | Financial Reporting Council
Host
Philippa Lamb
Guests
- Sally Baker, Head of Corporate Reporting Policy, ICAEW
- Lindsey Wicks, Technical Editor, ICAEW
- John Pearce, Director, Digital and Publishing, ICAEW
Producer
Natalie Chisholm
Episode first published: 6 April 2023
Podcast recorded: 3 April 2023
In this Insights In Focus episode, we discuss the effectiveness of local authority audit and assurance.
Many local authorities are facing a difficult financial situation, with pressure to deliver services at a time of stretched resources. There are also questions regarding the timely delivery and usefulness of their audited accounts – and whether councillors require financial training to support decision making.
Host Philippa Lamb discusses the issues with Meg Hillier MP, Chair of the Public Accounts Committee; James Jamieson, Chair of the Local Government Association; and Alison Ring, Director of Public Sector and Taxation at ICAEW.
Links
- ICAEW public sector hub: https://www.icaew.com/technical/public-sector
- ICAEW Public Sector Community: https://www.icaew.com/groups-and-networks/communities/public-sector
- ICAEW vision for local audit: https://www.icaew.com/technical/public-sector/public-sector-audit-and-assurance/uk-public-sector-audit/icaew-vision-for-local-audit
- Levelling Up, Housing and Communities Committee: Financial Reporting and Audit in Local Authorities inquiry: https://committees.parliament.uk/work/7348/financial-reporting-and-audit-in-local-authorities/
Host
- Philippa Lamb
Guests
- Meg Hillier MP, Chair, Public Accounts Committee
- James Jamieson, Chair, Local Government Association
- Alison Ring, Director, Public Sector and Taxation, ICAEW
Producer
- Natalie Chisholm
Episode first published: 3 April 2023
Podcast recorded: 24 March 2023
On the latest ICAEW Insights podcast, we explore the contents of the 2023 Spring Budget and the likely impacts on UK businesses and the work of finance professionals alike.
Coming only five months after Chancellor Jeremy Hunt’s Autumn Statement, which hastily course-corrected from September 2022’s ‘fiscal event’, the Spring Budget was expected to be a quieter affair.
Going beyond the headlines, host Iain Wright is joined again by Frances Haque, Chief Economist at Santander UK, and David Williamson, Political Editor at the Sunday Express, to discuss Wednesday’s announcements.
Links
- ICAEW Spring Budget 2023 hub
Host
Iain Wright
Guests
- David Williamson, Political Editor, Sunday Express
- Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 17 March 2023
Podcast recorded: 16 March 2023
In this ‘Insights In Focus’ episode, we discuss ways to attract and retain talent in the accounting profession.
Last year saw the UK accountancy sector’s graduate intake fall for the first time since 2008. Meanwhile, job applications across the sector fell by more than a third, compared with 2021.
While the numbers have coincided with significant economic challenges, questions remain about how accountancy is perceived as a profession – and, in particular, whether it is seen to offer a rewarding career over the long term.
Host Philippa Lamb discusses the issues with Gillian Woolman, Audit Director at Audit Scotland; Dave Payne, Head of Access and Volunteer Programmes at ICAEW; and Jackie Crane, an ICAEW member who chose to leave accountancy.
Links
- ICAEW attractiveness of the profession hub: https://www.icaew.com/about-icaew/who-we-are/attractiveness-of-the-profession
- ICAEW: ACA for Employers: https://www.icaew.com/learning-and-development/aca/aca-employers
- ICAEW President Julia Penny: to attract talent, let’s focus on why we matter: https://www.icaew.com/insights/viewpoints-on-the-news/2022/dec-2022/to-attract-talent-lets-focus-on-why-we-matter
Host
Philippa Lamb
Guests
- Gillian Woolman, Audit Director, Audit Scotland
- Dave Payne, Head of Access and Volunteer Programmes, ICAEW
- Jackie Crane, ICAEW member and former practising accountant
Producer
Natalie Chisholm
Episode first published: 3 March 2023
Podcast recorded: 23 February 2023
In this special ‘Insights In Focus’ episode, we discuss the ways in which HMRC is using digital technology to influence tax calculation and collection.
The UK’s first electronic tax return was filed in 1997. Since then, technology has dramatically transformed the calculation of tax, the filing of forms and the way that HMRC and tax authorities abroad receive and use data.
The pace and scale of change is only set to accelerate in the years ahead. So how does HMRC anticipate harnessing digital technology beyond the ongoing rollout of Making Tax Digital?
To find out more, host Paul Aplin is joined by Joanna Rowland, HMRC Director General of Transformation, and Jonathan Athow, HMRC Director General of Customer Strategy and Tax Design.
Links
- ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty
- ICAEW Insights Special: The future of tax and public spending: https://www.icaew.com/insights/insights-specials/the-future-of-tax-and-public-spending
Host
Paul Aplin
Guests
- Joanna Rowland, Director General, Transformation, HMRC
- Jonathan Athow, Director General, Customer Strategy and Tax Design, HMRC
Producer
Natalie Chisholm
Episode first published: 3 March 2023
Podcast recorded: 1 February 2023
On the latest ICAEW Insights podcast, we consider the future of audit – and the impact of the government’s proposed reforms on professionals in the sector.
It has now been five years since Carillion was liquidated, leaving behind debts of £7bn and the taxpayer a bill for £150m. The collapse of the construction services giant increased scrutiny on audit and corporate reporting, raising questions over whether present frameworks are fit for purpose.
After commissioning several reviews, the government finally announced its plan for the sector in 2022, seeking to curb the market dominance of the Big Four and create a new regulatory body with enhanced powers. But will the measures achieve their goals? And how should audit professionals think about their role in this new context?
To consider those questions and more, host Philippa Lamb is joined by Sir Andrew Likierman, former Dean and now Professor of Management Practice in Accounting at the London Business School; sector expert Andrew Ratcliffe; Mark Babington, Executive Director of Regulatory Standards at the Financial Reporting Council; and ICAEW Managing Director, Reputation and Influence, Iain Wright.
Links
- ICAEW audit and assurance hub
- ICAEW audit and corporate governance reform hub
- Government reforms announcement (31 May 2022)
Host
Philippa Lamb
Guests
- Sir Andrew Likierman, former Dean and Professor of Management Practice, London Business School
- Andrew Ratcliffe, Non-Executive Director, Barclays Bank UK
- Mark Babington, Executive Director of Regulatory Standards, Financial Reporting Council
- Iain Wright, Managing Director, Reputation and Influence, ICAEW
Producer
Natalie Chisholm
Episode first published: 16 February 2023
Podcast recorded: 13 February 2023
In this special Insights In Focus episode, we discuss the thorny and often contentious topic of executive pay.
The highly experienced panel doesn’t ignore the most common exec pay conversation – the eye-watering amounts sometimes paid to senior managers – but the discussion doesn’t stop there either. We hear first about the growing use of ESG metrics in assessing executives’ performance and rewarding them accordingly, and whether this is a good idea.
The panel then moves on to discuss the pressures on businesses to strike the right approach to exec pay, including from the chair of the remuneration committee at listed asset manager, Liontrust, and the risks of getting executive compensation decisions wrong. The conversation has pointers not only for senior managers and board members who might face a similar situation but also for anyone who aspires to be in senior roles in the future.
Host Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW discusses the topic with Sandy Pepper, Emeritus Professor of Management Practice at the London School of Economics and Political Science and author of a recent book: “If You’re So Ethical, Why are You so Highly Paid?”, George Yeandle, FCA, Non-Executive Director at Liontrust Asset Management plc and Chair of the Remuneration Committee, and Luke Hildyard, Director at the High Pay Centre, a think tank focused on pay and governance.
Links:
For more on ICAEW’s major content series on boards and corporate governance
icaew.com/newboardagenda
Host:
Peter van Veen
Guests:
-Sandy Pepper, Emeritus Professor of Management Practice at the London School of Economics and Political Science
-George Yeandle, FCA, Non-Executive Director at Liontrust Asset Management plc and Chair of the Remuneration Committee
-Luke Hildyard, Director at the High Pay Centre
Producer:
Guy Ruddle
Episode first published: 16 February 2023
Podcast recorded: 2 February 2023
In this Insights In Focus episode, we discuss the pros and cons of crypto and its impact on the work of finance professionals.
The collapse of crypto exchange and hedge fund FTX in December took $8bn of its customers’ money with it and raised fresh questions about the sector. Fans claim crypto will revolutionise how businesses and customers interact and, potentially, democratise the global flow of money. For detractors, the sector is little more than an unregulated casino, rife with opportunities for investors to lose their money.
Finance professionals are caught in the middle. So, where could or should crypto go next? And how significant might the sector become?
Host Philippa Lamb is joined by Paul Munson, Head of Financial Crime at social investment app Shares; Esther Mallowah, ICAEW Head of Technology Policy; and Vivienne Artz of the data privacy expert group, Global Coalition to Fight Financial Crime.
Links
ICAEW Blockchain and crypto assets hub
https://www.icaew.com/technical/technology/blockchain-and-cryptoassets
ICAEW Tech Faculty
https://www.icaew.com/technical/technology
Host
Philippa Lamb
Guests
Esther Mallowah, Head of Technology Policy, ICAEW
Paul Munson, Head of Financial Crime, Shares
Vivienne Artz, Co-chair, Data Privacy Expert Group, Global Coalition to Fight Financial Crime
Producer
Ed Adams
Episode first published: 26 January 2023
Podcast recorded: 23 January 2023
On the latest ICAEW Insights podcast, we look ahead to what 2023 might hold for the UK economy and the work of finance professionals.
While 2020 and 2021 were dominated by the need to mitigate the effects of the pandemic, 2022 posed new challenges. Economic and political pressures collided at home and abroad, resulting in significant uncertainty that is set to also define the year ahead.
Many of the economic trends that dominated 2022 – rising inflation, rising interest rates and stalling growth – are expected to continue. But questions remain about their duration and effects. And, of course, there are sure to be some surprises along the way.
Host Philippa Lamb is again joined by Frances Haque, Chief Economist at Santander UK; Iain Wright, ICAEW Managing Director, Reputation and Influence; and David Williamson, Political Editor at the Sunday Express.
Links
ICAEW Business Confidence Monitor
https://www.icaew.com/technical/economy/economic-insight/business-confidence-monitor-national
ICAEW Ukraine crisis: central resource hub
https://www.icaew.com/insights/insights-specials/ukraine-crisis-central-resource-hub
ICAEW inflation hub
https://www.icaew.com/technical/economy/inflation
ICAEW cost of doing business hub
https://www.icaew.com/technical/economy/cost-of-doing-business
ICAEW energy crisis hub
https://www.icaew.com/technical/economy/energy-crisis
Host
Philippa Lamb
Guests
Iain Wright, Managing Director, Reputation and Influence, ICAEW
David Williamson, Political Editor, Sunday Express
Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 3 January 2023
Podcast recorded: 8 December 2022
In this Insights In Focus episode, we review the major events of 2022 and their contribution to ongoing economic uncertainty.
Despite inflation already beginning to rise, the year began with optimism, as tracked by the ICAEW Business Confidence Monitor. But events moved quickly and the effects of the invasion of Ukraine in February and successive political crises back home have challenged the resilience of businesses and individuals alike.
With Rishi Sunak and Jeremy Hunt now installed in Numbers 10 and 11, the year is closing with the new government’s promise of ‘Big Bang 2.0’ – a package of post-Brexit legislation designed to boost the financial services sector. But how far-reaching are the reforms and will they sufficiently differentiate the UK from Europe’s major financial hubs?
Host Philippa Lamb is joined by Frances Haque, Chief Economist at Santander UK; Iain Wright, ICAEW Managing Director, Reputation and Influence; and David Williamson, Political Editor at the Sunday Express.
Links
ICAEW Business Confidence Monitor
https://www.icaew.com/technical/economy/economic-insight/business-confidence-monitor-national
ICAEW Ukraine crisis: central resource hub
https://www.icaew.com/insights/insights-specials/ukraine-crisis-central-resource-hub
ICAEW inflation hub
https://www.icaew.com/technical/economy/inflation
ICAEW cost of doing business hub
https://www.icaew.com/technical/economy/cost-of-doing-business
ICAEW energy crisis hub
https://www.icaew.com/technical/economy/energy-crisis
Host
Philippa Lamb
Guests
Iain Wright, Managing Director, Reputation and Influence, ICAEW
David Williamson, Political Editor, Sunday Express
Frances Haque, Chief Economist, Santander UK
Producer
Natalie Chisholm
Episode first published: 15 December 2022
Podcast recorded: 8 December 2022
In this episode of the ICAEW Insights podcast, we look at the Economic Crime Bill currently passing through Parliament.
The Bill follows the Economic Crime Act, which became law in March. That legislation was fast tracked in response to the Russian invasion of Ukraine and included a raft of measures to sever economic ties with Russia. Now, this new Bill aims to bring about wider changes on how financial information is gathered and shared in the UK.
Reforming Companies House is front and centre. As registrar of companies, the aim is to make it more active in spotting misbehaviour and in working with law enforcement. So what will that mean for chartered accountants as reporting and filing requirements for companies change and what else is in the Bill?
Philippa Lamb discusses the Bill with ICAEW’s Head of Corporate Reporting Policy Sally Baker, Paul Brehony, Partner at Signature Litigation, and Edmund Smyth, Partner at Kingsley Napley.
Links
Economic Crime Bill 2: what it means for you
https://www.icaew.com/insights/viewpoints-on-the-news/2022/oct-2022/economic-crime-bill-2-what-it-means-for-you
ICAEW Economic Crime hub
https://www.icaew.com/technical/trust-and-ethics/economic-crime
Paul Brehony on what EC Bill 2 means for accountants
https://www.signaturelitigation.com/paul-brehony-and-kate-gee-discuss-what-the-new-economic-crime-bill-means-for-accountants-and-company-directors-in-accountancy-daily/
Edmund Smyth’s review of the Bill
https://www.kingsleynapley.co.uk/insights/blogs/criminal-law-blog/the-economic-crime-and-transparency-bill-a-mixed-bag
Host
Philippa Lamb
Guests
Sally Baker, Head of Corporate Reporting Policy, ICAEW
Paul Brehony, Partner, Signature Litigation
Edmund Smyth, Partner, Kingsley Napley
Producer
Natalie Chisholm
Episode first published: 7 December 2022
Podcast recorded: 28 November 2022
In this Insights In Focus episode, we explore the Bank of England’s recent policy switch from quantitative easing to quantitative tightening.
The Bank of England has been supporting the UK economy by buying government bonds since 2009. The policy has been a stabilising force through successive economic shocks: the global financial crisis, the euro crisis, the Brexit vote and, most recently, the COVID-19 pandemic.
Now, the Bank of England is on a mission to reduce inflation, raising interest rates and beginning to sell the £895bn of government bonds that sit on its balance sheet. But how much should be sold and how soon?
Host Philippa Lamb discusses the role that QE has played within the economy, and the process of quantitative tightening, with Reuben Wales, ICAEW Head of Financial Services; Martin Wheatcroft, external adviser on public finances to ICAEW; and Michael Saunders, economist and member of the Monetary Policy Committee from 2016 until very recently.
LinksICAEW inflation hub
https://www.icaew.com/technical/economy/inflation
ICAEW cost of doing business hub
https://www.icaew.com/technical/economy/cost-of-doing-business
ICAEW economic insight
https://www.icaew.com/technical/economy/economic-insight
HostPhilippa Lamb
GuestsMichael Saunders, Monetary Policy Committee member, 2016-2022
Reuben Wales, ICAEW Head of Financial Services
Martin Wheatcroft, external adviser on public finances to ICAEW
ProducerNatalie Chisholm
Episode first published: 30 November 2022
Podcast recorded: 23 November 2022
We hear an update from the CFO about how advanced the company’s merger plans are and how this will secure their future in a competitive industry dominated by far larger global players. But the HR director has more worrying news about the numbers of staff that are quitting the company, especially the large amount of trainees leaving before they complete their training contracts. There are also concerns about stock pilfering and a largely blue-collar workforce who are struggling with the cost of living crisis. Despite the merger promising a bright future, the board can’t ignore either employee retention problems or wider issues around how to support their workforce through difficult times.
Our panel talk through the situation and provide their advice on how a board might manage a situation like this. The conversation has pointers not only for senior managers and board members who might face a similar situation but also for anyone who aspires to be in senior roles in the future.
Host Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW discusses the dilemma with Sandy Pepper, Emeritus Professor of Management Practice at the London School of Economics and Political Science, Janet Williamson, Senior Policy Officer for Corporate Governance and Capital Markets at Trades Union Congress, and Leo Martin, Founder and Director, Good Corporation.
LinksFor more on ICAEW’s major content series on boards and corporate governance
www.icaew.com/newboardagenda
HostPeter van Veen
GuestsSandy Pepper, Emeritus Professor of Management Practice at the London School of Economics and Political Science
Janet Williamson, Senior Policy Officer for Corporate Governance and Capital Markets at Trades Union Congress
Leo Martin, Founder and Director, Good Corporation.
ProducerEd Adams
Episode first published: 25 November 2022
Podcast recorded: 3 November 2022
Our panel talk through the situation and provide their advice on how a board might manage a situation like this. The conversation has pointers not only for senior managers and board members who might face a similar situation but also for anyone who aspires to be in senior roles in the future.
Host Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW, discusses the dilemma with Sandy Pepper, Emeritus Professor of Management Practice at the London School of Economics and Political Science, and Janet Williamson, Senior Policy Officer for Corporate Governance and Capital Markets at Trades Union Congress.
LinksFor more on ICAEW’s major content series on boards and corporate governance
www.icaew.com/newboardagenda
HostPeter van Veen
GuestsSandy Pepper, Emeritus Professor of Management Practice at the London School of Economics and Political Science
Janet Williamson, Senior Policy Officer for Corporate Governance and Capital Markets at Trades Union Congress
ProducerEd Adams
Episode first published: 21 November 2022
Podcast recorded: 3 November 2022
In this Insights In Focus special episode, we discuss the rollout of the International Standard on Quality Management (ISQM) and what firms need to do before ISQM 1 is implemented on 15 December 2022.
The aim of ISQM is to raise audit quality and encourage practitioners to think about the risks that may affect their work. But the imminent arrival of ISQM 1 has the potential to be tricky and time-consuming for practices – perhaps even prohibitively so at a time of economic uncertainty and volatility.
Host Iain Wright, ICAEW Managing Director, Reputation and Influence, discusses how firms and practitioners can navigate these issues with Louise Sharp, ICAEW Senior Technical Manager in Audit and Assurance; Catherine Hardinge, Technical Partner at Price Bailey; and Peter Hollis, owner of Hollis & Co.
Links
ICAEW Quality management in audit firms hub
https://www.icaew.com/technical/audit-and-assurance/audit/quality-management-in-audit-firms
ICAEW Overview of standards
https://www.icaew.com/technical/audit-and-assurance/audit/quality-management-in-audit-firms/overview-of-standards
ICAEW Getting started with ISQM 1
https://www.icaew.com/technical/audit-and-assurance/audit/quality-management-in-audit-firms/getting-started-with-isqm-1
ICAEW ISQM 1: recommended resources and tips
https://www.icaew.com/insights/viewpoints-on-the-news/2022/Sept-2022/ISQM-recommended-resources-and-tips-Dec-15-deadline
ICAEW ISQM 1 implementation: a sole practitioner approach
https://www.icaew.com/insights/viewpoints-on-the-news/2022/oct-2022/ISQM-1-implementation-a-sole-practitioner-approach
Host
Iain Wright
Guests
Catherine Hardinge, Partner, Technical, Price Bailey
Peter Hollis, owner and Principal, Hollis & Co
Louise Sharp, Senior Technical Manager, Audit and Assurance, ICAEW
Producer
Ed Adams
Episode first published: 16 November 2022
Podcast recorded: 11 November 2022
On the latest ICAEW Insights podcast, we discuss the impact of the energy crisis on how businesses are sourcing their energy as well as planning for the longer term.
With government support for business energy bills only lasting six months, many firms are looking at securing their own energy supply. We learn what some of the options are – and whether the benefits of going ‘off grid’ outweigh the upfront costs.
There are also fears that the scramble to regain control of energy supply and pricing will lead to net-zero commitments being forgotten or delayed. And as fracking returns to the public debate, we explore whether the use of fossil fuels can be minimised at a time of national crisis.
Host Philippa Lamb is joined by Suresh Aggarwal, Director of serviced office provider Airvovo; energy solutions expert Mark Kissack of Kissack Advisory; and Matthew Clayton, Managing Director of Thrive Renewables.
Links
ICAEW cost of doing business hub
https://www.icaew.com/technical/economy/cost-of-doing-business
ICAEW energy crisis hub
https://www.icaew.com/technical/economy/energy-crisis
ICAEW Business Advice Service
https://www.icaew.com/about-icaew/find-a-chartered-accountant/icaew-business-advice-service
Host
Philippa Lamb
Guests
Suresh Aggarwal, Director, Airvivo Flexible Office Space
Mark Kissack, Kissack Advisory
Matthew Clayton, Managing Director, Thrive Renewables
Producer
Natalie Chisholm
Episode first published: 3 November 2022
Podcast recorded: 31 October 2022
In this Insights In Focus episode, we explore why SMEs are tempting targets for cyber criminals, and what can be done to protect smaller firms against attacks.
Databases full of sensitive client information are a huge draw for cyber criminals and there are signs that attackers know all about the yearly rhythm of an accountant’s work, waiting until busy seasons to strike.
The cost of a successful attack can be huge. The immediate financial impact alone can be devastating, but the reputational and emotional costs can be even longer lasting. So what can be done to improve cyber security?
Host Philippa Lamb is joined by Jessica Pillow, director of Pillow May Accountancy which experienced a cyber attack, and Richard Jackson, partnerships manager at security experts Moore ClearComm.
Links
ICAEW cybercrime awareness month 2022
https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-month-2022
ICAEW cyber security resources
https://www.icaew.com/technical/technology/cyber-security
Host
Philippa Lamb
Guests
Jessica Pillow, director, Pillow May Accountancy
Richard Jackson, partnerships manager, Moore ClearComm
Producer
Natalie Chisholm
Episode first published: 20 October 2022
Podcast recorded: 17 October 2022
On the latest ICAEW Insights podcast, we explore how accountants can go about approaching some of the year’s most challenging professional issues.
World events have moved quickly this year. Successive waves of sanctions against Russia and the return of M&A activity – as well as the subsequent spike in conflict-of-interest queries – have meant that accountants are increasingly needing to make sense of grey areas.
With accountants typically used to being the ones with the answers, who assists them when the path forward is unclear? Enter the ICAEW Technical and Ethics helpdesk.
Host Philippa Lamb is joined by David Stevens and Cerys Freemantle, professional consultants at the helpdesk, to make sense of these tricky topics and provide advice on next steps where there is no clear right answer.
Links
ICAEW Technical and Ethics helpdesk
https://www.icaew.com/membership/support-throughout-your-career/technical-and-ethics-support
ICAEW Ukraine crisis central resource hub
https://www.icaew.com/insights/insights-specials/ukraine-crisis-central-resource-hub
ICAEW guidance on the UK’s ban of the provision of accountancy services to Russia
https://www.icaew.com/regulation/aml-supervision/aml-resources/guidance-on-the-uk-ban-of-the-provision-of-accountancy-services--to-russia
ICAEW client screening service
https://www.icaew.com/library/guide-to-services/client-screening
ICAEW financial reporting helpsheets
https://www.icaew.com/technical/tas-helpsheets/financial-reporting
ICAEW guidance: Identifying and managing conflicts
https://www.icaew.com/-/media/corporate/files/technical/ethics/icaew-guidance-identifying-and-managing-conflicts.ashx?la=en
Host
Philippa Lamb
Guests
David Stevens, professional consultant, ICAEW
Cerys Freemantle, professional consultant, ICAEW
Producer
Natalie Chisholm
Episode first published: 13 October 2022
Podcast recorded: 6 October 2022
In this Insights in Focus episode, we discuss the major challenges facing UK businesses, including energy costs, recruitment and retention of staff, and wage inflation.
Recent headlines haven’t made easy reading. A recession looms, inflation continues to rise, and sterling plunged following the ‘mini-Budget’ on 23 September.
Understandably, businesses are nervous. ICAEW’s Business Confidence Monitor for Q3 2022 found business sentiment turning negative for the first time since late 2020. Businesses in all sectors and regions reported a ‘cost-of-doing-business’ crisis.
To explore what comes next, host Philippa Lamb is joined by Simon Gray, ICAEW Head of Business, and Katy Davies, Managing Director at manufacturer CamdenBoss.
Links
ICAEW inflation hub
https://www.icaew.com/technical/economy/inflation
ICAEW energy crisis hub
https://www.icaew.com/technical/economy/energy-crisis
ICAEW Business Confidence Monitor
https://www.icaew.com/technical/economy/economic-insight/business-confidence-monitor-national
ICAEW analysis and reaction to the mini-Budget
https://www.icaew.com/technical/Economy/fiscal-event-september-2022
Host
Philippa Lamb
Guests
Simon Gray, Head of Business, ICAEW
Katy Davies, Managing Director, CamdenBoss
Producer
Natalie Chisholm
Episode first published: 6 October 2022
Podcast recorded: 29 September 2022
On the latest ICAEW Insights podcast, we discuss the economic challenges facing new Prime Minister Liz Truss, and the policy commitments made during the summer’s campaign trail.
The Prime Minister has a sizeable in-tray to tackle. Stalling growth and rising inflation have led to warnings of economic stagnation for the UK. The energy crisis and industrial action this coming winter complicate matters, too.
It leaves little wiggle room for policymaking at Number 10, but the Prime Minister has promised to enact tax cuts and hinted at sweeping regulatory reforms.
Host Philippa Lamb discusses what the first 100 days of Liz Truss’s leadership may look like with ICAEW experts Suren Thiru, Iain Wright and Richard Jones.
Links:
- ICAEW: new Prime Minister urged to restore growth
https://www.icaew.com/insights/viewpoints-on-the-news/2022/sept-2022/new-prime-minister-urged-to-restore-growth
- ICAEW Energy crisis hub
https://www.icaew.com/technical/economy/energy-crisis
- ICAEW Inflation hub
https://www.icaew.com/technical/Economy/inflation
Host:Philippa Lamb
Guests:-Iain Wright, Managing Director, Reputation and Influence, ICAEW
- Suren Thiru, Director, Economies, ICAEW
- Richard Jones, Business Taxes Specialist, ICAEW Producer:Natalie Chisholm
Episode first published: 8 September 2022
Podcast recorded: 6 September 2022
In this Insights In Focus episode, we explore the multifaceted role of the insolvency professional by hearing from both practitioner and client.
Fraser Dick, managing director of Perfection Alloys, shares how the technical and emotional support of Tyrone Courtman, partner at RSM UK Restructuring Advisory, steered the business away from insolvency and towards recovery.
Tyrone goes on to explain his process for assessing the viability of businesses experiencing difficulties; and what motivated him to specialise as an insolvency professional early in his career.
It’s a timely discussion as insolvencies continue to surge, having tripled from January 2021 to March 2022, and further pressures are expected to press down upon UK businesses.
Show Links:
ICAEW insolvency hub
ICAEW Future of Insolvency insights special
ICAEW Restructuring and Insolvency Community
Host:
Philippa Lamb
Guests:
- Tyrone Courtman, partner, RSM UK Restructuring Advisory
- Fraser Dick, managing director, Perfection Alloys
Producer:
Ed Adams
Episode first published: 31 August 2022
Podcast recorded: 25 August 2022
On the latest ICAEW Insights podcast, we explore the problems facing the aviation sector with experts Matthew Davy, director at Strategy& UK, and Eleni Kaloyirou, CEO of Hermes Airports, Cyprus.
The panel discuss the business drivers behind this summer’s flight woes, including the effects of ongoing staff shortages. Plus, we examine the long-term pressures facing the industry as passenger travel finds new equilibrium following the pandemic.
We then meet ICAEW climate change executive Sarah Reay to hear how aviation is taking its first steps towards a greener future, as well as how the Institute is supporting members on their own climate journeys.
Links:
- UK aviation: reform for take-off (House of Commons’ Transport Committee)
https://publications.parliament.uk/pa/cm5802/cmselect/cmtrans/683/report.html
- The six secrets of profitable airlines (McKinsey)
https://www.mckinsey.com/industries/travel-logistics-and-infrastructure/our-insights/the-six-secrets-of-profitable-airlines
- ICAEW Finance for the Future awards
https://www.financeforthefuture.org
- ICAEW Climate Summit
https://www.icaew.com/learning-and-development/events/icaew-climate-summit
- ICAEW Climate for SMEs
https://www.icaew.com/technical/sustainability/climate-hub/climate-for-smes
- ICAEW sustainability certificate
https://www.icaew.com/learning-and-development/academy/specialist-qualifications/icaew-sustainability-certificate
Host:Philippa Lamb
Guests:- Matthew Davy, Director, Strategy& UK (PwC)
- Eleni Kaloyirou, CEO, Hermes Airports
- Sarah Reay, Climate Change Executive, ICAEW
Producer:Natalie Chisholm
Episode first published: 11 August 2022
Podcast recorded: 8 August 2022
In this special edition of Insights In Focus, Iain Wright, ICAEW’s Managing Director, Reputation & Influence, is joined by Majeed Neky, Head of Policy, Levelling Up Taskforce at the Department for Levelling Up, Housing and Communities, Gill Morris, Chief Executive, Devo Connect and Sarah Longlands, Chief Executive, Centre for Local Economic Strategies.
In the interregnum between Boris Johnson’s resignation speech and a new leader taking over, it’s easy to declare an end to the Conservatives’ flagship Levelling Up policy. But Majeed and Gill are quick to tell Iain how unlikely that is. As Majeed points out: “The diagnosis of the problem is very difficult to argue with, it’s going to be a priority under a government of whatever stripe.”
Regional inequality has been a blight on the UK population and economy for over a century and generations of politicians have struggled with the issue. As the guests point out, the analysis in February’s White Paper comprehensively detailed a lot of the problem. The much harder bit, of course, is solving it. Our guests discuss the importance of devolving decision-making away from Westminster – and why that is likely to continue – the huge role that business, R&D, new jobs and new skills will play in creating a better, more balanced economy and the opportunities that will create across the country. Finally, they outline why chartered accountants have a crucial job to do.
They also discuss the biggest benefits of getting this right: the UK lags behind many of its G7 counterparts on inequality. This is a debilitating state of affairs. In some parts of the country – one of the richest in the world – life expectancy is falling. A baby born in Blackpool tomorrow is not only likely to have a considerably shorter life than a baby born tomorrow in Wokingham, but is also likely to spend twice the amount of its life in ill health. Time for us all to help build a better economy, whatever slogan is attached to it.
Guests
- Majeed Neky, Head of Policy, Levelling Up Taskforce at the Department for Levelling Up, Housing and Communities
- Gill Morris, Chief Executive, Devo Connect
- Sarah Longlands, Chief Executive, Centre for Local Economic Strategies
Host
Iain Wright, ICAEW’s Managing Director, Reputation & Influence
Links
- Levelling Up White Paper: https://www.gov.uk/government/publications/levelling-up-the-united-kingdom
- Devo Connect: https://www.devoconnect.co.uk
- Centre for Local Economic Strategies: https://cles.org.uk
Producer
Natalie Chisholm
Episode first published: 22 July 2022
Podcast recorded: 13 July 2022
In this special edition of Insights In Focus, Iain Wright, ICAEW’s Managing Director, Reputation and Influence is joined by Kitty Ussher, Chief Economist at the Institute of Directors, and Suren Thiru, ICAEW’s Director, Economies.
Talking on the morning that UK GDP figures for May were released showing an unexpected return to economic growth, Kitty and Suren both tell Iain why managers and business owners should be more confident in the economy’s medium-term health. Inflation rates are likely to come back within a manageable margin by next year, and the fundamentals of the UK economy are in better shape than many business leaders think.
As Kitty points out, “Everyone’s feeling worried at the moment. That means your competitors are also feeling worried. And so if you think the fundamentals of your business are actually okay … then you should be investing for your future because it may be that your competitors are too nervous to do so.”
Beyond advising everyone to stop worrying, the team also discuss why the labour market is so hot, how the government should help ease the staff shortages so many businesses face, and what changes to economic policy will really make a difference to the UK’s companies.
And finally, when we have a new Conservative government eight weeks from now, what would Kitty and Suren advise the next Chancellor to focus on. Would you agree?
Guests
- Kitty Ussher, Chief Economist at the Institute of Directors
- Suren Thiru, Director, Economies, ICAEW
HostIain Wright, Managing Director, Reputation and Influence, ICAEW
Links:- https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/may2022
- https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/labourproductivity/articles/whatistheproductivitypuzzle/2015-07-07
ProducerNatalie Chisholm
Episode first published: 18 July 2022
Podcast recorded: 13 July 2022
On the latest ICAEW Insights podcast, we speak to Martin Wheatcroft about rising inflation and what that means for businesses, plus capital allowances reforms.
Inflation is rising at a record pace across the world, triggered by the COVID-19 pandemic and exacerbated by a perfect storm of world events, including the war in Ukraine. We explore the impacts of this, both negative and positive, and what it might mean for public finances.
We also take a look at the government’s plans for capital allowance reforms. As the end of the superdeducton approaches, the UK government is considering reforms to capital allowances to support and encourage business investment. ICAEW has responded to the government plans. Richard Jones from ICAEW’s Tax Faculty to discuss this and the ongoing delays to R&D processing.
Links:- https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
- https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/may2022
- https://www.imf.org/external/pubs/ft/fandd/basics/30-inflation.htm
- https://www.bbc.co.uk/news/business-12196322
- https://www.gov.uk/government/publications/potential-reforms-to-uks-capital-allowance-regime-inviting-views/potential-reforms-to-uks-capital-allowance-regime-inviting-views
- https://www.icaew.com/insights/tax-news/2022/may-2022/treasury-invites-views-on-reforming-uk-capital-allowance-regime
- https://www.icaew.com/insights/tax-news/2022/jul-2022/icaew-calls-for-more-innovative-thinking-on-capital-allowances-reform
- https://www.icaew.com/insights/tax-news/2022/may-2022/hmrc-suspends-payment-of-some-rd-tax-credit
Host:Philippa Lamb
Guests:- Martin Wheatcroft, financial strategy consultant
- Richard Jones, ICAEW’s technical manager, business tax
Producer:Natalie Chisholm
Episode first published: 14 July 2022
Podcast recorded: June 2022
In this Insights In Focus episode, we take a look at the upward trend in instances of fraud: what factors make it easier for fraudsters, and what can the profession do about it?Instances of fraud have been on the rise since 2019, particularly during the pandemic, as economic criminals exploited new weaknesses created as a result of the rapid introduction of COVID-19 measures.
Last month, the UK government issued its feedback statement on audit and corporate governance reform, which outlined how auditors and businesses should monitor and respond to potential instances of fraud.
What’s the real picture when it comes to the prevalence of fraud? We look at the common types of fraud, the challenges of trying to combat it, the red flags that accountants might come across, and how professionals should respond.
Host:
Philippa Lamb
Guests:
- Arun Chauhan, founder of Tenet Law and Fraud Advisory Panel trustee. - Chris Osborne, partner and head of the forensic services team, FRP.
Links:- https://www.ukfinance.org.uk/system/files/Half-year-fraud-update-2021-FINAL.pdf
- https://www.gov.uk/government/publications/government-action-on-fraud-in-covid-support-schemes/government-action-on-fraud-in-covid-support-schemes
- https://www.actionfraud.police.uk/covid19
- https://www.icaew.com/technical/tas-helpsheets/fraud/fraud-issues-for-members-in-business
- https://www.icaew.com/technical/business/webinars-and-publications/podcasts-and-recordings/common-online-frauds-and-how-to-avoid-them
- https://www.icaew.com/insights/viewpoints-on-the-news/2022/jun-2022/ec-why-does-the-uk-have-such-a-problem-with-fraud
- https://www.icaew.com/technical/trust-and-ethics/ethics/Help-with-ethical-problems
Producer:Natalie Chisholm
Episode published: 5 July 2022
Podcast recorded: 27 June 2022
On the latest ICAEW Insights podcast, we speak to Ed Humpherson, Director General of The Office for Statistics Regulation about the importance of data for the Levelling Up agenda.
The levelling up agenda aims to bring a better balance to the UK economy, but this is no easy undertaking, involving huge infrastructure projects and changes to everything from tax to devolution to regional funding. Ed discusses the importance of good data in moving the Levelling up agenda, where the critical gaps lie, and how statistics can be used to monitor and measure progress.
Then, ICAEW’s Head of Taxation Strategy Frank Haskew discusses the possibilities for the further devolution of tax, in light of Levelling up. He weighs up the pros and cons of what is a complex and divisive issue.
Links:
- https://www.gov.uk/government/publications/levelling-up-the-united-kingdom.
- https://www.ons.gov.uk/peoplepopulationandcommunity.
- https://osr.statisticsauthority.gov.uk/.
- https://osr.statisticsauthority.gov.uk/correspondence/ed-humpherson-to-ons-response-to-covid-19-infection-survey-statistics/.
- https://ifs.org.uk/publications/15892#:~:text=Well%2C%20the%20devolution%20deal%20means,a%20%E2%80%9CLaffer%20curve%E2%80%9D%20effect.
- https://www.instituteforgovernment.org.uk/explainers/tax-and-devolution.
- https://gov.wales/devolution-tax-process-not-fit-purpose-finance-minister.
Host:
Philippa Lamb
Guests:
- Ed Humpherson, Director General of The Office for Statistics Regulation.
- Frank Haskew, Head of Taxation Strategy, ICAEW.
Producer:Natalie Chisholm
Episode first published: 7 June 2022
Podcast recorded: May 2022
The horrific situation in Ukraine has had wide-ranging impacts and implications across the world, not least the fight against economic crime.
In the UK, this is a huge undertaking. Will the new Economic Crime Act make a difference? Solicitor and economic crime specialist Matt Corn discusses the climate for economic crime in the UK and how the new Act will work in the context of existing UK law.
Last week, the Chancellor Rishi Sunak delivered his Spring Statement with expectations high for measures to lessen the pain of inflation, rising energy and fuel costs, and the larger cost of living crisis. Did he do enough?
Frank Haskew, Head of Taxation Strategy, Tax for ICAEW, analyses the Chancellor’s decisions and discusses the implications of high inflation.
Links:- https://www.legislation.gov.uk/ukpga/2022/10/contents/enacted.
- https://commonslibrary.parliament.uk/research-briefings/cbp-9013/.
- https://www.politico.eu/article/uk-new-economic-crime-legislation-russia/.
- https://www.gov.uk/government/news/government-takes-landmark-steps-to-further-clamp-down-on-dirty-money.
- https://www.gov.uk/government/publications/spring-statement-2022-documents.
- https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/february2022.
- https://obr.uk/box/higher-inflation-effects-on-our-central-forecast-and-alternative-scenarios/.
Host:Philippa Kelly
Guests:- Matt Corn, economic crime specialist solicitor, Olliers.
- Frank Haskew, Head of Taxation Strategy, Tax, ICAEW.
Producer:Natalie Chisholm
Episode first published: 30 March 2022
Podcast recorded: 24 March 2022
In this Insights in Focus episode, we look at what happens to your digital assets after you die.
A large proportion of our lives are now lived online. The digital footprint of the average person on the street is getting bigger and bigger. Some of that includes assets that we really value, both from an emotional and financial perspective. Journalist and author Jamie Bartlett looks to answer the question: what happens to those assets when we die, and what do we need to consider?
Catherine Mayer understands how hard it can be to deal with a loved one’s digital assets. When her husband, Andy Gill, guitarist from the band Gang Of Four, died in 2020, his death trended on Twitter. Getting hold of his digital assets and accounts has been an uphill battle. She speaks about her experiences and what she’s learned from them.
Then Elaine Kasket, Bereavement Lead at the Digital Legacy Association and author of All the Ghosts in the Machine, explains the various complexities of people’s digital afterlife. David Lyford-Tilley, ICAEW’s Technical Manager, Tech and the Profession, gives a technology and legal perspective on how to manage your digital legacy.
Host:Jamie Bartlett, technology journalist and author
Guests:
- Catherine Mayer, activist, journalist, co-founder of Women’s Equality Party and Primadonna Festival, author, 'Good Grief: Embracing Life at a Time of Death'.
- Elaine Kasket, psychologist, Bereavement Lead at the Digital Legacy Association, author, 'All the Ghosts in the Machine: The Digital Afterlife of Your Personal Data'.
- David Lyford-Tilley, Technical Manager, Tech and the Profession.
Links:
- https://www.catherinemayer.co.uk/good-grief.
- https://www.theguardian.com/music/2022/jan/16/widow-of-gang-of-four-guitarist-andy-gill-reveals-how-she-was-ambushed-by-bereavement.
- https://www.theguardian.com/music/2020/feb/01/andy-gill-influential-guitarist-with-gang-of-four-dies-aged-64.
- https://www.hachette.co.uk/titles/elaine-kasket/all-the-ghosts-in-the-machine/9781472141897/.
- https://digitallegacyassociation.org/.
- https://www.icaew.com/technical/audit-and-assurance/faculty/audit-and-beyond/audit-and-beyond-2021/audit-and-beyond-december-2021/the-implications-of-digital-assets-for-the-accountancy-profession .
Producer:Natalie Chisholm
Episode published: 22 March 2022
Podcast recorded: 11 March 2022
On the latest ICAEW Insights podcast, we speak to Jamie Bartlett, author and presenter about the importance of digital assets.
These assets can include NFTs, cryptocurrencies and prizes email addresses and social media handles. What happens to them when we die? Jamie discusses how to look after your digital shadow.
Then, Sunday Times Economics Editor and author David Smith discusses the conditions that have created the rising inflation we’re seeing in the UK. Are those conditions easing? What will this mean for the cost of living? What’s the impact of the Great Resignation? Who suffers most from high inflation?
Links to resources on topics discussed in the show:
https://myshadow.org/animation
https://www.forbes.com/sites/philippsandner/2021/08/24/digital-assets-the-future-of-capital-markets/
https://time.com/5579737/facebook-dead-living/
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/january2022
https://petapixel.com/2022/02/23/experts-warn-global-chip-shortage-likely-to-last-beyond-2022/
https://www.constructionnews.co.uk/supply-chain/how-sharply-rising-materials-prices-have-rocked-the-sector-28-02-2022/
https://www.politicshome.com/thehouse/article/major-challenges-for-supply-chains-this-year-brexit-labour-shortages
https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/articles/householdinflationandincomeinequalityintheuk/2020-11-02
Host: Philippa Kelly.
Guests:
- Jamie Bartlett, journalist, presenter and author
- David Smith, Economics Editor, The Sunday Times
Producers: Natalie Chisholm
Episode first published: 28 February 2022
Podcast recorded: 21 February 2022
We take a look at the issue of domestic modern slavery, and how authorities and prosecutors look to build a case under the Modern Slavery Act.
Before the Modern Slavery Act came into force in 2015, criminals would get a longer sentence for moving 3kg of cocaine than for trafficking 300 people. It is a critical piece of legislation in tackling modern slavery in the UK, where it is still a significant issue.
Businesses are feeling considerable pressure as a result of rising inflation, supply chain issues, and other spiralling costs. Some struggle to find the workers they need. This could mean greater bargaining power for workers; equally it could mean greater numbers of people being coerced.
In challenging times, some people are willing to push, and breach, the limits to succeed, or simply survive. Such conditions can also heighten the risk of modern slavery, and Chartered Accountants need to be aware of the risks and know what to look out for.
Host:Philippa Kelly, Director of Financial Services, ICAEW
Guests:
- Caroline Haughey OBE QC, barrister, Furnival Chambers, who prosecuted the very first case brought under the Modern Slavery Act;
- Laura Thomas, Senior Prevention and Partnerships Officer of the Gangmasters and Labour Abuse Authority (the GLAA); and
- Dipak Vashi, Sustainability Manager at ICAEW.
Links:- https://www.gov.uk/government/publications/2021-uk-annual-report-on-modern-slavery/2021-uk-annual-report-on-modern-slavery-accessible-version;
- https://www.cps.gov.uk/west-midlands/news/operation-fort-three-gang-members-convicted-human-trafficking;
- https://www.gov.uk/government/collections/modern-slavery-bill;
- https://www.gla.gov.uk/media/5917/spotting-the-signs-mini-guide.pdf;
- https://www.gla.gov.uk/media/5638/march_2020_statutory_guidance_under_the_modern_slavery_ac_2015.pdf;
- https://www.icaew.com/technical/legal-and-regulatory/modern-slavery;
- https://www.icaew.com/learning-and-development/icaew-educational-films/without-question.
Producer:Natalie Chisholm
Episode published: 15 February 2022
Podcast recorded: 8 February 2022
In this episode of ICAEW Insights, we look at the issues facing charities in the UK, the increasing focus of regulators, investors and stakeholders on non-financial misconduct and what’s new with tax.Host and ICAEW financial services director Philippa Kelly is joined by the Institute’s head of charities and voluntary sector, Kristina Kopic, to discuss the challenges the sector has faced over the past two years. It has been difficult for charities to both operate sustainably and support users at a time when they particularly need it.
Barrister at 4-5 Gray’s Inn Square and Financial Services Faculty Board Member Nikesh Pandit discussed the Financial Conduct Authority’s (FCA) increased focus on non-financial misconduct. The FCA takes a fairly strong stance on non-financial misconduct; some individuals have been banned from working in the financial services industry because of it. Nikesh looks at the parallels for Chartered Accountants.
Finally, Lindsey Wicks, ICAEW’s technical editor, tax, looks at the latest tax news, including the deferment of the new VAT penalty regime and HMRC’s briefing on its approach to tax fraud.
Links:- https://www.icaew.com/learning-and-development/events/charity-conference.
- https://www.icaew.com/technical/volunteering-community/trustee-training-modules.
- https://www.icaew.com/groups-and-networks/communities/volunteering.
- https://www.icaewvolunteers.com/.
- https://www.fca.org.uk/news/press-releases/fca-bans-three-individuals-working-financial-services-industry-non-financial-misconduct.
- https://www.icaew.com/technical/financial-services/2021/banning-individuals-for-non-financial-misconduct.
- https://www.icaew.com/insights/tax-news/2022/jan-2022/New-VAT-penalty-regime-deferred-to-January-2023.
- https://www.icaew.com/insights/tax-news/2022/jan-2022/HMRC-briefing-highlights-its-approach-to-tax-fraud.
- https://www.icaew.com/insights/viewpoints-on-the-news/2022/Jan-2022/What-happens-if-you-miss-the-31-January-self-assessment-filing-and-payment-deadline.
- https://www.icaew.com/insights/tax-news/2022/jan-2022/HMRC-announces-onemonth-self-assessment-penalty-waiver.
Host:
Philippa Kelly, director, financial services, ICAEW
Guests:
- Kristina Kopic, Head of Charities and Voluntary Sector, ICAEW.
- Nikesh Pandit, Barrister, 4-5 Gray’s Inn Square and Financial Services Faculty Board Member.
- Lindsey Wicks, Technical Editor, Tax, ICAEW.
Producer:
Natalie Chisholm
Episode published: 20 January 2022
Episode recorded 17 January 2022
In the first ICAEW In Focus podcast of 2022, Chief Executive Michael Izza looks at the biggest issues facing business and the wider economy, with help from experts from around the Institute.
The global economy is going through significant change at the moment, some of it long term, some of it short. For instance, we’re seeing the start of a gradual transition away from fossil fuels, starting with coal. At the same time, we’re seeing a huge increase in inflation – a symptom of more immediate economic challenges.
With the messages from COP26 still ringing in our ears, businesses and governments are considering how to turn promises into action. Much has been made of the ‘green and fair recovery’ as we come out of the pandemic. We will need new skills in order to facilitate that.
In the first part of an in-depth discussion between ICAEW Chief Executive Michael Izza and its experts in sustainability, the public sector, financial services and technology, we look at the impacts of COP26, how to cope with rising inflation, and the skills and jobs needed for the economy to ‘level up’.
Host:Michael Izza, Chief Executive, ICAEW
Guests:
- Philippa Kelly, ICAEW’s Director of Financial Services;
- Richard Spencer, Director of Sustainability;
- Alison Ring, Director of Public Sector and Taxation; and
- David Lyford-Tilley, Technical Manager, Tech and the Profession.
Links:
- icaew.com/insights/cop26
- sdg.iisd.org/events/2021-un-climate-change-conference-unfccc-cop--27/
- unfccc.int/documents/310475
- ons.gov.uk/economy/inflationandpriceindices
- gov.uk/government/publications/levelling-up-fund-additional-documents
Producer:Natalie Chisholm
Episode published: 04 January 2022
Podcast recorded: 30 November 2021
In the second of a two-part special Insights In Focus podcast, ICAEW Chief Executive Michael Izza discusses non-financial reporting, public sector finances, and the big tech trends of 2022.
At the end of 2021, we saw some significant developments towards a coherent framework for non-financial reporting standards. The formation of the International Sustainability Standards Board by IFRS in November was a huge step forward.
But if we’re going to make progress in tackling climate change issues, we will have to deal with the rising levels of public debt. Fiscal resilience will be under the spotlight as much as sustainability issues.
Emerging technologies are also transforming the way we live and work, from the need for new data skills to the digitalisation of tax.
The implications of all of this are discussed in part two of our special Insights In Focus podcast.
Host:Michael Izza, Chief Executive, ICAEW
Guests:Philippa Kelly, ICAEW’s Director of Financial Services;
Richard Spencer, Director of Sustainability;
Alison Ring, Director of Public Sector and Taxation; and
David Lyford-Tilley, Technical Manager, Tech and the Profession
Links:
- ifrs.org/groups/international-sustainability-standards-board/
- icaew.com/digitaltax
- icaew.com/cyber
- icaew.com/blockchain
- icaew.com/data
Producer:Natalie Chisholm
Episode published: 04 January 2022
Podcast recorded: 30 November 2021
Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
On the show, ICAEW’s financial services director Philippa Kelly joins host Tom Herbert to assess the potential for regulating ‘greenwashing’ and ask whether 2022 will be another year of calculating EBITDAC for the nation’s businesses.
ICAEW Tax Faculty’s Lindsey Wicks puts the government’s Tax Administration and Maintenance day under the microscope and outlines the next milestone in the government’s phased timetable for border controls with the EU.
And joining the podcast to outline the challenges posed to local audit by the pandemic and the steps auditors are taking to overcome them is Ann-Marie Harkin from Audit Wales and Oliver Simms from ICAEW’s public sector team.
Links to resources discussed in the show:
- Tax administration and maintenance day: a Budget without a speech.
- Get ready for full customs declarations for EU imports and exports.
- Brexit: Determine where your goods originate.
- ICAEW: government has not recognised urgency of local audit crisis.
- Local authority audit hits breaking point as 91% miss deadline.
- Audit Wales homepage.
Host:Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:
- Philippa Kelly, Director, Financial Services at ICAEW.
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty.
- Ann-Marie Harkin, Executive Director for Audit Services, Audit Wales.
- Oliver Simms, Manager, Public Sector Audit and Assurance at ICAEW.
Producer:Natalie Chisholm
Episode first published: 16 December 2021
Episode recorded: 13 and 14 December 2021
On the latest Insights In Focus podcast, we reflect as the dust settles on the COP26 discussions in Glasgow, it’s time to assess and reflect on what was – and wasn’t – achieved.
For almost 30 years, governments and policy makers have been meeting at the Conference Of Parties (COP) to try to solve the problem of climate change. In that time, it has gone from a seemingly distant issue to an imminent existential threat.
Paris 2015 was the first major COP event to feel significant to the wider population. There, governments agreed to limit global warming to below two degrees, with an ultimate goal to keep it to 1.5 degrees. To achieve this, countries would adapt to the impacts of a changing climate, and make funds available to deliver on those aims.
Six years on from the Paris Agreement, COP26 felt like a crunch point: it was essential for the assorted countries to make progress and outline a plan that would further limit emissions.
Now that COP26 is over and done with, is the new agreement enough? This podcast explores what happened at Glasgow and what it means for business and the accountancy profession.
Host:Richard Spencer, Director of Sustainability, ICAEW
Guests:
- Kate Levick. The Associate Director, Sustainable Finance, at the leading climate change think tank E3G. Kate leads E3G's activities in Sustainable Finance. She is responsible for overseeing E3G’s work on public and private finance including systemic financial reform and is a veteran of many COP meetings.
- Mark Gough. The CEO of the Capitals Coalition, a collaboration of businesses and other organisations from across the global economy focused on embedding social, human and natural capital into organisational decision-making. Mark has worked extensively in the private sector, leading programs and strategy for the Crown Estate and Reed Elsevier (now RELX), as well as advising many more.
- Jessica Fries. Jessica is Executive Chair of Accounting for Sustainability. Established by HRH The Prince of Wales in 2004, its aim is to transform finance to make sustainable business, business as usual. While at A4S, Jessica has been responsible for establishing the International Integrated Reporting Council (IIRC), as well as A4S’s CFO Leadership Network and capital markets programme.
Links:-https://www.e3g.org/.
- https://capitalscoalition.org/.
- https://www.accountingforsustainability.org/en/index.html.
- https://www.icaew.com/insights/cop26.
Producer:Natalie Chisholm
Episode first published: 29 November 2021
Podcast recorded: 25 November 2021
Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
On the show, we speak to Small Business Minister Paul Scully about how the government intends to help small businesses hit hard by the pandemic, what chartered accountants working in or advising small businesses can do, and how to tackle the UK’s productivity puzzle.
With the resolutions from the COP26 climate conference fresh in our minds, ICAEW’s Sarah Dunn outlines why the formation of the International Sustainability Standards Board (or ISSB) is an important step forwards for better-quality climate disclosures.
And ICAEW Tax Faculty’s Lindsey Wicks unpacks key pieces of legislation from the recent Finance Bill, assesses HMRC’s efforts to clear a backlog of self assessment registrations, and outlines the content of recent ‘nudge’ letters sent to holders of cryptoassets encouraging them to consider their capital gains tax position.
Links to resources discussed in the show:
- Help to Grow scheme information (gov.uk).
- New sustainability standards board targets globally comparable reporting.
- ICAEW Financial Reporting Faculty Q&A on IFRS Sustainability Disclosure Standards.
- Budget confirms one-year delay to basis period reform.
- UK cryptocurrency owners nudged on CGT.
Host:Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:- Paul Scully, Parliamentary Under-Secretary of State for Small Business, Consumers and Labour Markets, Minister for London and MP for Sutton and Cheam.
- Sarah Dunn, Technical Manager Financial Reporting, ICAEW.
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty.
Producers:Natalie Chisholm and Guy Lessor
Episode first published: 18 November 2021
Episode recorded: 15 and 16 November 2021
On the latest ICAEW Insights in Focus podcast, we take a look at The Fabian Society’s new pamphlet on delivering value for money on public spending.
Transparency in public spending has never been more important. With public services under increasing pressure, government debt rising and targets in areas such as carbon emissions to be met, any spending must be backed with evidence that it will deliver value to the taxpayer.
The Fabian Society, Britain’s oldest think tank, has been developing ideas around progressive political ideas and public policy for 140 years. Its recent pamphlet 'Prizing the public pound', outlines its thoughts and recommendations on how to deliver value for money to the taxpayer in the 2020s.
In it, the Fabian Society reviews the current architecture for public audit and value for money, recommending that all expenditure proposals should be assessed against its five ‘E’s of value for money: Effectiveness, Efficiency, Equity – ensuring fair allocation of resources to meet need, Equality – pursuing both equality of opportunity and addressing all forms of inequality, and Environmental sustainability.
The pamphlet’s authors, John Tizard and David Walker, sat down with ICAEW’s Director of Public Sector and Taxation Alison Ring to discuss the recommendations within the pamphlet and the wider context in which it was written.
Host:Alison Ring, Director of Public Sector and Taxation, ICAEW
Guests:- John Tizard. A strategic adviser and commentator focusing on public policy, public services, and governance. John is a former county councillor and joint council leader, and has extensive board experience in the public sector, in business, and in charity, social business and arts organisations.
- David Walker. David is an honorary member of CIPFA, the Chartered Institute of Public Finance and Accountancy. He was Managing Director for communications and public reporting at the Audit Commission before it was disbanded. He was previously an editor of Guardian Public and has co-authored books with Polly Toynbee, including 'The Lost Decade' and 'The Verdict – Did Labour Change Britain?'.
- Martin Wheatcroft. Martin is an adviser and author on public finances who works closely with the ICAEW Public Sector team. He helped write ICAEW’s response to the Fabian Society pamphlet. Martin has extensive business experience as a former Big Four auditor, a chief accountant and a financial controller in international businesses. He is the author of several of ICAEW’s Better Government Series publications, ICAEW’s chart of the week and the Simply UK Government Finances series of books.
Links:- The Fabian Society's 'Prizing the Public Pound' pamphlet.
- David Walker’s book with Polly Toynbee, 'The Lost Decade'.
- ICAEW’s response to the pamphlet.
- ICAEW Insights.
- ICAEW Public Sector Community.
Producer:Natalie Chisholm
Episode first published: 27 October 2021
Podcast recorded: 15 October 2021
Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
In this special edition, we’re joined by experts from across ICAEW’s tax and public sector team to preview the government’s Autumn Budget 2021 and Spending Review, which takes place on Wednesday 27 October.
Normally one of the biggest financial events of the year in its own right, this Budget has assumed even greater significance, being the first since the easing of lockdown measures and the tapering down of a number of key Covid support schemes, and also because the same day will see the first three-year government Spending Review in six years.
Will Rishi Sunak produce any tax rabbits from his hat, or has the biggest policy announcement already come in the form of the new Health and Social Care Levy? How much headroom does the Chancellor have to act? And what of longstanding issues such as Brexit, Making Tax Digital and the net zero agenda?
Links to resources discussed in the show:- ICAEW Budget 2021 hub.
- Webinar: Tax Faculty Autumn Budget 2021 Update.
- PM confirms 1.25% increase to NIC and dividend tax rates.
- Government to fast-track rules enacting healthcare levy.
- Webinar: MTD for ITSA - back to basics and myth busting.
- MTD ITSA and basis period reform postponed.
- Use Budget to speed up tax modernisation, says ICAEW.
- Freeports: business needs greater clarity.
- COP26: acting together on climate.
- Use Spending Review to establish a "financial platform for delivery".
- IFS pre-Budget report warns of difficult choices for the Chancellor.
- Chart of the week: UK public debt profile.
Host:
Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:
- Alison Ring Director, Public Sector & Taxation, ICAEW.
- Frank Haskew, Head of Tax, ICAEW.
- Anita Monteith Technical Lead & Senior Policy Adviser, Tax, ICAEW.
- Martin Wheatcroft, an adviser on public finances who works closely with the ICAEW Public Sector team.
Producer:
Natalie Chisholm
Episode published: Tues 19 October 2021
Episode recorded: Weds 13 October 2021
On this week’s ICAEW Insights in Focus podcast, we take an in-depth look at a real-life cyber attack.
It was a seemingly ordinary day in Gareth’s* life. Then the phone started ringing, and it never stopped. His company was the target of a ransomware attack. Years later, he shares his story with journalist and author of 'The Dark Net', Jamie Bartlett, as part of ICAEW’s Cyber Crime Week.
Cyber attacks such as phishing and ransomware are on the increase, as cyber criminals identify new ways to breach company systems in the new hybrid working environment.
According to the latest Cyber Security Breaches Survey, four in 10 businesses and just over a quarter of charities experienced security breaches or attacks during the first 12 months of the pandemic.
Host:
Jamie Bartlett, internet culture and technology journalist, author of 'The Dark Net', 'The People Vs Tech' and 'Radicals', host of 'The Missing Cryptoqueen' podcast.
Guests:
- Gareth*. Gareth is an IT manager whose previous employer suffered a major ransomware attack in 2014, before such attacks were common knowledge. He was able to overcome several hurdles in order to restore the company’s systems, and learned some valuable lessons about how to protect organisations from such attacks.
- Mike O’Neill. Mike O’Neill is managing director of Optimal Risk Group and a member of the Chartered Security Professionals Regulation Authority. He and his team provide security and risk consultation services to organisations around the world, including penetration testing.
- Sophie Wales. Sophie is the director of trust and ethics at ICAEW with responsibility for ethics, economic crime, fraud and business law. Sophie leads ICAEW’s policy work in these areas, engaging with government and other regulators, as well as providing guidance for members.
*Name has been changed
Producer:
Natalie Chisholm
Episode first published: 15 October 2021
Podcast recorded: 7 October 2021
Welcome to this ICAEW Insights ‘In Focus’ podcast. This is where we interrogate a specific but timely topic from the world of accountancy, business and finance. This time we examine Less Complex Entity (LCE) audits.
There’s been a lot of talk about LCE audits recently and that’s because the international auditing standard-setter, the IAASB, recently issued an exposure draft for a standard for LCE audits.
This is major progress. The exposure draft issued is far from perfect, but the fact that it has been issued is a cause for celebration. ICAEW has been a robust supporter of less complex auditing standards for the audit of LCEs for many years.
The issue of an exposure draft is the start of a journey. There are significant technical issues to address before we even think about the potential for adoption and it is important to remember for now that the exposure draft has been issued by the international standard setter, the IAASB – and not by the Financial Reporting Council in the UK.
Today’s podcast panel is well versed in all the issues.
Host:
Sophie Campkin, ICAEW Technical Lead, Audit and Assurance
Guests:
- Fiona Wilkinson. Fiona was President of ICAEW from 2019 to 2020 and is a Board member of the International Federation of Accountants, and Chair of its Public Policy and Regulatory Advisory Group. She has been a member of the ICAEW’s Council since 2003 and has also served as chair of the Professional Standards Board, an ICAEW Board Director and chair of the Ethics Advisory Committee. She qualified as an ICAEW Chartered Accountant in 1980 with Deloitte and spent 11 years in the firm’s Audit Department before setting up her own practice as a technical consultant providing engagement quality control reviews and audit compliance reviews for small and medium-sized firms.
- Catherine Hardinge. Catherine is a partner with Price Bailey. She joined the firm in 2003, having qualified with EY. She’s the firm’s compliance partner, chair of ICAEW’s LCE Audits Working Group, a member of ICAEW’s main auditing committee and an ICAEW Board member for Education and Training.
- Katharine Bagshaw. Katharine is a long-standing staff member with ICAEW’s Audit and Assurance Faculty. She qualified in 1990 with EY and is a former member and deputy chair of IFAC’s SMP Committee. She’s Secretary to ICAEW’s LCE Audits Working Group.
Producer:Natalie Chisholm
Episode first published: 8 October 2021
Podcast recorded: 4 October 2021
Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
On the show we speak to Eleanor Fairford, the National Cyber Security Centre’s Deputy Director for Incident Management, about the rising tide of ransomware, and how chartered accountants can protect themselves and their businesses.
ICAEW Tax Faculty’s Lindsey Wicks outlines the details of the government’s new health and social care levy and talks us through the Office for Tax Simplification’s report on the costs and benefits of moving tax year away from 5 April.
And ahead of Charity Fraud Awareness Week (18 – 22 October 2021), Mia Campbell, Head of Fraud Advisory Panel and Kristina Kopic, Head of Charity and Voluntary Sector, ICAEW tell us about fraud in the sector, how the pandemic has changed criminals’ behaviour, and how charities should react if the worst happens.
Links to resources discussed in the show:- PM confirms 1.25% increase to NIC and dividend tax rates.
- Government to fast-track rules enacting healthcare levy.
- OTS provides valuable insights on changing the tax year.
- COVID sick pay rebate scheme ends on 30 September.
- The Charity Fraud Awareness Week website.
- Managing the risk of fraud and financial crime – an overview for charities.
- ICAEW virtual event on Charity Governance.
- The National Cyber Security Centre website.
- The growing threat of ransomware.
Host:Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty.
- Eleanor Fairford, Deputy Director for Incident Management, the National Cyber Security Centre.
- Mia Campbell, Head of Fraud Advisory Panel.
- Kristina Kopic, Head of Charity and Voluntary Sector, ICAEW.
Producer:Natalie Chisholm
Episode first published: 23 September 2021
Podcast recorded: 15 September 2021 (ransomware section) and 21 September 2021 (tax and charity fraud sections)
Welcome to this ICAEW Insights ‘In Focus’ podcast. This is where we interrogate a specific but timely topic from the world of accountancy, business and finance. This time we examine the gender pension gap.
We hear a lot about the gender pay gap – the difference between the average earnings of men and women, but the pensions gap has had little attention, yet it is actually more acute. While the gender pay gap among full-time employees in April 2020 was 7.4%, and it was 15.5% among all employees, the gender pension gap is much wider. A recent report found a 40% gap in pension savings between women and men – that's an average difference in pension income by gender of about £7,500 a year.
According to research released by Scottish Widows earlier this year, the average woman in her twenties is on course to have £100,000 less in her pension pot at retirement than a man of the same age. Women face a higher risk of retiring in poverty than men. And the pandemic appears to have increased the gender pension gap, because women were more likely to be furloughed or lost their jobs.
Women live longer, earn less and save less. They are more likely to take long breaks from their career for caring responsibilities or to work part-time. Even the state pension is based on how many years you’ve worked or National Insurance credits you’ve received during time off for parenting or caring.
This podcast will explore all these issues, and explain how individuals, businesses and government can go about closing the gender pension gap.
Host:Rosamund Urwin
Guests:
- Jane Portas, a former financial services partner at two big 4 accountancy firms, the co-founder of Insuring Women’s Futures which is a market-led programme for improving women’s and society’s financial resilience, and the author of ‘The Risks in Life’ series of reports and practical including ‘Solving women’s pension deficit to improve retirement outcomes for all.
- Philippe Seidel of AGE, the largest EU-funded network of organisations of and for older people in Europe. He specialises in the fields of employment of older workers and social protection, as well as gender equality. Philippe also coordinates AGE’s relations with the European Parliament.
- Philippa Kelly, ICAEW’s Director of Financial Services who leads ICAEW’s work across banking, insurance and investment management. She qualified as a chartered accountant with PwC.
Producer:Natalie Chisholm
Episode first published: 16 September 2021
Podcast recorded: 13 September 2021
Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
On this show, we’ll speak to Liz Barclay, the government’s new Small Business Commissioner, on efforts to tackle the scourge of late payments.
ICAEW Tax Faculty’s Lindsey Wicks outlines the implications of the government’s proposed reforms to basis periods.
Football finance expert and chartered accountant Kieran Maguire gives us the story behind his hit podcast ‘The Price of Football’.
And ICAEW’s Katharine Bagshaw explains why the IAASB thinks we need an audit standard for less complex entities.
Links to resources discussed in the show:- Getting paid sooner: the vital role of accountants.
- Contact the Office of the Small Business Commissioner.
- TAFR gets real with consultation on basis period reform.
- Basis period reform – feedback needed.
- Speed of basis period reform risks integrity of tax system, warn professional bodies.
- Digital marketplaces to report sellers’ incomes to HMRC as early as 2023.
- Football clubs should target accountants this transfer window.
- An Evening with Kieran Maguire.
- The Price of Football podcast.
- Less complex entities: ICAEW salutes IAASB’s initiative.
Host:
Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:
- Katharine Bagshaw, Manager, Auditing Standards, ICAEW
- Kieran Maguire, Football Finance Lecturer, University of Liverpool and co-founder, Price of Football podcast
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty
- Liz Barclay, Small Business Commissioner
Producer:Natalie Chisholm
Episode first published: 26 August 2021
Podcast recorded: 24 and 25 August 2021
Welcome to this ICAEW Insights ‘In Focus’ podcast. ICAEW’s Head of Corporate Finance, David Petrie, is joined by a panel of experts to discuss debt, equity and other funding options for small businesses in the light of government intervention as a consequence of the pandemic and the return to growth.
Host:David Petrie, Head of Corporate Finance, ICAEW;
Guests:
- Graeme Sands, Corporate and Growth Banking Director, Virgin Money UK;
- Steve Cordiner, Head of Unquoted Investment, Gresham House Ventures;
- Maggie Rodriguez-Piza, Chief Executive, Funding London;
- Asif Ahmed, Founder & Managing Director, Acclivity Advisors;
- Wendy Smith, Senior Innovation and Growth Specialist, Innovate UK EDGE North.
Producer:Natalie Chisholm.
Episode first published: 19 August 2021.
Podcast recorded: 12 August 2021.
Welcome to this ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
On this show, we’ll look at how the boundaries between accountants’ personal and business lives have blurred during the pandemic, resulting in a rising number of disciplinary cases involving social media. What are the professional bodies doing about this?
ICAEW has responded to the government’s future-facing Tax Administration Framework Review, which is likely to affect all taxpayers, businesses and those who advise them. We’ll examine the review and ask why the Institute has called for more resourcing for HMRC to deliver the government’s vision.
Details of the fifth self-employment income support scheme grant have been released - how different is it from its predecessors and what should you look out for?
And what is the difference between an e-money business account and a traditional business bank account, and why does it matter?
Links to resources discussed in the show:- HMRC needs more resource to rebuild the UK's tax system.
- In-year tax estimates wouldn’t be an accurate basis for payment.
- FCA: fintech firms must clarify non-bank status.
- E-money and what you need to know.
- HMRC publishes guidance on the fifth SEISS grant.
- Self-employment Income Support Scheme (SEISS) - the fifth grant.
- Accountants battle blurred boundaries between personal and professional life.
- CCAB Guidance on Boundaries of Personal and Professional Life in Ethics.
Host:Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:- Philippa Kelly, Director, Technical Strategy Business Group, ICAEW
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty
- Sophie Wales, Director, Technical Strategy, Tax, Ethics & Law Group, ICAEW
Producers:Guy Ruddle, Natalie Chisholm
Episode first published: 22 July 2021
Podcast recorded: 19 July 2021
The pandemic has pushed back gender parity across the UK FTSE 350 to 2036, with women holding just 22% of all executive committee roles. Just 15 of the top companies have female chief executives. While we’ve made some progress in recent years, what needs to change to reach true equality? ICAEW's Susanna Di Feliciantonio and Jane Berney discuss the issue with a panel of experts.
The panel:
-Andrew Weir, Regional Senior Partner of KPMG in Hong Kong and Vice-Chairman of KPMG China, and Global Chair of Asset Management for KPMG.
- Leda Condoyanni, Chair of the Non-Executive Directors’ Club in Greece + board member of ecoDa.
- Catherine Musakali, Advocate of the High Court of Kenya and Chairperson of Women on Boards in Kenya.
- Susannah Haan, a non-profit leader currently holding a portfolio of non-executive director roles.
High profile frauds and corporate failures has put the spotlight on auditors. Regulators have questioned the quality of audits and the lack of competition in the audit market, leading to some of the more contentious elements of the BEIS whitepaper. What’s the right approach? Anna Draper, lead partner, BDO, Jayne Kerr, director audit strategy and public policy, PwC, Tracy Gordon, director of corporate governance, Deloitte, and Katharine Bagshaw, manager, auditing standards, ICAEW, join ICAEW’s Iain Wright to discuss.
Trust in business and other institutions, such as Parliament and the press, has been declining for decades. How do we reverse the tide? Do the measures in the BEIS whitepaper set out a path to build back trust? In the second part of our corporate governance discussion, panellists Mala Shah-Coulon, associate partner at EY; Tom Gosling, fellow at London Business School; Andrew Ninian, director of stewardship and corporate governance, The Investment Association; John Odada, head of board and committees at BP; and Elizabeth Richards, head of corporate governance, ICAEW, talk trust with ICAEW’s Iain Wright.
The BEIS whitepaper proposes replacing the current regulator, the Financial Reporting Council, with a new, more powerful body, the Audit Reporting and Governance Authority – ARGA. ICAEW’s Iain Wright is joined by a mega-panel of experts to discuss this proposal: Mala Shah-Coulon, associate partner at EY; Tom Gosling, fellow at London Business School; Andrew Ninian, director of stewardship and corporate governance, The Investment Association; John Odada, head of board and committees at BP; and Elizabeth Richards, head of corporate governance, ICAEW. Part one of two.
The BEIS consultation on audit and corporate governance reform proposes sweeping changes that will have a profound impact on the way corporate Britain operates. Why is this necessary now? What will it mean in practical terms? And is the timing right? Cosette Reczek, a Chartered Governance Professional with over 30 years' experience and a member of the ICAEW Corporate Governance Committee, Janet Williamson, Senior Policy Officer at the TUC, and John Boulton, Director of Technical Policy at ICAEW, speak to ICAEW’s Managing Director for Reputation and Influence Iain Wright to find out more.
Restoring trust in audit and corporate governance: explore the consultation and find out more about ICAEW’s views with this dedicated series of articles.
In 2019, the UK was the first major government to commission a review into the economics of declining biodiversity. Here Philippa Kelly speaks with Thomas Viegas, economic advisor to the Review, about the implications for the finance sector.
ICAEW’s Philippa Kelly and Lindsey Wicks and PwC’s Mike Jervis join host Tom Herbert to discuss the potential moving of tax year end, Bounce Back Loan repayment options, business restructuring and cryptocurrency.
Welcome to this new ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.
On today’s show, with news that the government is considering moving tax year end away from 5 April, what impact could this have on businesses and individuals? The first coronavirus Bounce Back Loans are now falling due for repayment: what should businesses consider when drawing up their plans for the rest of 2021 and beyond? And you can’t get away from cryptocurrency in the press, but should chartered accountants be taking a closer look?
Links to resources discussed in the show:- OTS to look at impact of moving tax year end.
- Wyman Symposium 2021 - Changing the end of the tax year.
- Bounce Back Loans: getting ready to repay.
- COVID-19 challenges for business: Bounce Back Loan Scheme repayments.
- Broader consensus needed for G7 tax deal to achieve aims.
- Cryptocurrency: accountants look beyond the horizon.
- ICAEW’s Business Rescue series.
Host:Tom Herbert, online editor ICAEW Insights, We Are Sunday
Guests:- Philippa Kelly, Director, Technical Strategy Business Group, ICAEW.
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty.
- Mike Jervis, Restructuring and Insolvency Partner, PwC.
Producer:Natalie Chisholm
Episode first published: 24 June 2021
Podcast recorded: 21 June 2021