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...

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...

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,...

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...

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...

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...

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...

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,...

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...

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...

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 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...

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...

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,...

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...

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...

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,...

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...

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...

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...

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...

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...

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...

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...