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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
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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. LinksBe part of...
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...
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.ic...
In this special bonus 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 s...
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 fo...
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. LinksICAEW: The...
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 impac...
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 wil...
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 T...
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...
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, uncerta...
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 es...
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 rol...
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 th...
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 A...
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 L...
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 ...
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 Li...
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