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It's not (just) what you know...
You have heard the expression: it’s not what you know, it’s who you know that matters in life. While what you know matters a great deal – the rigour of our qualifications proves how strongly we believe that at ICAEW - my experience ...
15 Feb 2019
The future of audit
On Tuesday, I was in Parliament giving evidence to the Business, Energy and Industrial Strategy (BEIS) Select Committee's
inquiry into the future of audit
, alongside Stephen Haddrill from the FRC and Maggie McGhee of the ACCA. You ...
8 Feb 2019
Digitalisation of tax: international perspectives
On 23 April 1997 I filed the UK’s first electronic self-assessment tax return. That single keystroke ignited an interest in the use of digital technology in tax administration (sufficiently strong for it to be the subject of my CIOT Fellowship ...
5 Feb 2019
The apprenticeship levy: use it, don’t lose it
Many ICAEW members are employers who pay the apprenticeship levy, and I wanted to remind you that funds from the levy will begin to expire from April 2019. Unused funds expire after 24 months – so if you began paying the levy in April 2017, you...
29 Jan 2019
Economic literacy for everyone
Late last year I spoke at a summit at Chartered Accountants’ Hall – ‘Economic Literacy for Everyone’ – facilitated by
. The audience was made up of young people with an interest in economics, and their teachers. I...
23 Jan 2019
A new global architecture
Next week I’ll be heading to the World Economic Forum in Davos, where I’ll be speaking on a panel and attending a number of other events and meetings. Ahead of my trip, I’ve been reflecting on the manifesto for this year’s For...
17 Jan 2019
A connected profession
My experience over the past few months has reinforced for me the importance of our connections with other professional bodies, and other professionals, around the world. In this blog I want to focus on just one area: tax. Tax authorities have shared ...
15 Jan 2019
The prospect of the UK leaving the EU without a withdrawal deal has increased after the UK Government postponed the parliamentary vote last week. The Prime Minister’s proposed deal will now be debated in the new year, but there’s still ev...
21 Dec 2018
Facing the findings
Today, two landmark reports on the audit market have been published. Sir John Kingman has published the findings and recommendations of his
‘root and branch’ review of the FRC
, commissioned back in April by the Secretary of State for Busi...
18 Dec 2018
Reforming the Audit Industry
ICAEW and our profession absolutely recognise the need for change. I am therefore pleased to see Professor Prem Sikka and his colleagues make a contribution to the debate with their report,
'Reforming the Audit Industry'
, published today. The report,...
14 Dec 2018
Next week, Sir John Kingman will be publishing the findings of his review of the Financial Reporting Council, and the Competition and Markets Authority will be publishing its conclusions on its investigation of competition and resilience in the audit...
14 Dec 2018
Fintech innovation - perspectives from Singapore and London
Fintech is an important and growing industry sector. As many members will have experienced, it is changing the way individuals and businesses use and access financial services. Countries around the world are now developing and promoting their own fin...
5 Dec 2018
Bach to the future
Driving from Changi Airport to my hotel in Singapore, the radio in the taxi was tuned to a classical music channel. Just as we arrived at the hotel, I heard the first bars of Trever Pinnock’s recording of Bach’s Brandenburgs – the v...
4 Dec 2018
Turbulence, disruption and calm
A few weeks ago, I visited Newcastle to meet members and students and to speak at the Northern Society Annual Dinner. My flight back to the South West through Storm Calum was memorable. I have flown through many storms in my time and in my days as a ...
28 Nov 2018
Sustainability in accountancy education
Chartered accountants have a fundamental role to play in integrating sustainability into organisations’ business strategy, operations and decision-making. It therefore follows that sustainability should be integrated into the training of a char...
23 Nov 2018
A global community
ICAEW members around the world make up a truly global community. We have members in 153 countries, around one sixth of our members live and work outside the UK and an ever-increasing proportion of our students – whether studying for CFAB, BFP o...
21 Nov 2018
A glimmer of hope
The draft withdrawal agreement between the UK Government and the European Commission announced last week has provided a glimmer of hope. It has now been welcomed by most business leaders and many major companies as a step forward, but much remains to...
20 Nov 2018
'A New Landscape for Audit'
On Monday, I was delighted to welcome the Chair of the Business, Energy and Industrial Strategy Select Committee, Rachel Reeves MP, to Chartered Accountants’ Hall to deliver a keynote speech on the future of audit. In the course of that, she an...
14 Nov 2018
Measuring Social Progress
A few weeks ago, the 2018
Social Progress Index
was published. As the title suggests, the Index provides a holistic snapshot of how well the world is progressing, from a primarily social and environmental perspective. It ranks 146 countries on how we...
5 Nov 2018
One of the themes I'm pursuing this year is access to our profession for the brightest and the best, regardless of background. I was therefore keen to attend the recent annual reception to celebrate the work of Access Accountancy. Access Accounta...
3 Nov 2018
A Spending Sprinkle
This year’s Budget Statement was never going to break any new ground. The competing priorities of ending austerity, increasing public spending, cutting taxes and increasing infrastructure investment are by definition impossible to reconcile wit...
29 Oct 2018
Finance in a Digital World
Many members will know that we’ve recently placed a significant focus on technological change and its impact on the profession. Digital disruption is already transforming the way finance is able to serve businesses and their clients. We know th...
26 Oct 2018
Protect Audit to Protect Prosperity
Last week, the European Summit in Brussels ended without reaching agreement on the terms of the UK’s exit from the European Union. Negotiations are continuing, and there are some encouraging signs, but the clock continues to tick for businesses...
22 Oct 2018
A Market Study of Audit
Yesterday, the Competition and Markets Authority (CMA) officially announced its
review into the audit market
. Members will know that this has been anticipated for some time, and follows this summer’s independent review of the FRC by Sir John Ki...
10 Oct 2018
What’s Next After LIBOR?
The London Inter-Bank Offered Rate (LIBOR) is the most widely used interest rate across financial markets. It is used to set rates for government and corporate bonds, mortgages, student loans and credit cards, as well as derivatives such as interest ...
3 Oct 2018