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In this podcast series from the Institute of Chartered Accountants in England and Wales (ICAEW), 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
114 Episodes
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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 Regula...
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 te...
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. Ti...
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 ...
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 t...
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 ...
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 growth08:37 Professional judgement in audit Links ICAEW Scale-Up Live 2025: https://events.i...
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 &a...
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 00:2...
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 ...
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...
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...
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...
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 wit...
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...
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...
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 forecastin...
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...
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 advice08:09 New professional behaviour wording Links ICAEW: Hardman Lecture shines spotlight on ‘shadow’ tax advisers: https://www.icaew.com/insights/...
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? &nb...
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