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Blogs

  • ICAEW Chart of the week

    The announcement of a £20bn increase in funding for the NHS in England means a rise in the NHS England budget from £115bn this year to £149bn in five years’ time once inflation is taken into account, and excludes &po...
    • 20 Jun 2018
  • A World of Strong Economies

    On 6 June I was formally elected President of ICAEW. In my speech at Chartered Accountants’ Hall that day I set out some thoughts for the year ahead. I begin my Presidency at a time when our profession faces many challenges and uncertainties. W...
    • 18 Jun 2018
  • Can a Labour government balance the books?

    In its last manifesto, the Labour Party pledged to bring the water, rail and energy sectors back into public ownership, while introducing a Fiscal Credibility Rule. But is it possible to do both and ensure the economic future of the UK? I am delight...
    • 15 Jun 2018
  • Introduction of fixed penalty process and Guidance on Sanctions updated

    Revised Guidance on Sanctions effective 1 July 2018 - revised Guidance on Sanctions has been approved by the ICAEW Regulatory Board to come into effect from 1 July 2018. This follows extensive consultation with ICAEW’s disciplinary and reg...
    • 11 Jun 2018
  • ICAEW Chart of the week

    A recent report by the Institute for Fiscal Studies and The Health Foundation concludes that annual real-terms increases of 4% in the funding for UK health and social care is needed, mainly to care for the growing number of older people. Our chart t...
    • 11 Jun 2018
  • Public money for the public good

    The role of professional accountants is fundamentally about creating trust. Trust that numbers are correctly stated and that a true and fair account is given, showing what money has been raised and how it has been used. For the government this b...
    • 5 Jun 2018
  • My Final Overseas Engagements as ICAEW President

    As I understand it, the final few weeks of an ICAEW Presidency are traditionally a quiet affair, allowing the Office Holder to “wind down” their duties ahead of saying farewell. Well, I’ve certainly bucked that trend, travelling to ...
    • 4 Jun 2018
  • Practice Assurance webinar reduces follow-up actions by 66%

    We have launched a suite of new Practice Assurance (PA) resources to help firms interpret and follow the PA standards. These include Practice Assurance Principles 2018 which contains a summary of useful findings from our 2017 Practice Assurance visit...
    • 4 Jun 2018
  • ICAEW Chart of the week

    Ian Stewart's (the Chief Economist of Deloitte) excellent Monday Briefing last week on ‘300 years of public spending’ made for a fascinating read. Over a relatively short period, we have gone from a very small administration to ...
    • 4 Jun 2018
  • Changes to Investigation, Disciplinary, Appeal and Fitness Committees - effective 1 June 2018

    Amendments to the regulations governing the operation of the Investigation, Disciplinary, Appeal and Fitness Committees come into effect 1 June 2018. These technical changes have been made to update the regulations and clarify and streamline the disc...
    • 4 Jun 2018
  • The Realities of Business Performance Management

    In Business Performance Management Report 2 – working with tensions  we provide practical advice for finance professionals on how to help organisations succeed.  Leading on business performance management is challe...
    • 29 May 2018
  • ICAEW Chart of the week

    Last month, the caretaker government in Italy proposed a budget which forecast the elimination of Italy's fiscal deficit by 2021. The arrival of a radical new coalition government with plans to cut taxes and increase spending changes all that. Debt...
    • 23 May 2018
  • ICAEW Chart of the week

    Our chart this week provides an insight into why Stagecoach and Virgin decided to ‘hand back the keys’.  The East Coast franchise generated £247m in 2016-17, before a franchise payment to the Department of Transport of £...
    • 17 May 2018
  • Finding fraud through internal audit

    In the UK, internal audit is the most common means of discovering fraud. This was a key finding in a recent survey by Kroll with 48% of UK respondents in agreement. It also found that 97% of UK respondents had been affected by fraud in the past 12 mo...
    • 16 May 2018
  • ICAEW Chart of the week

    This week’s chart is perhaps the most interesting, if more complex ones, from our recent report ‘The debt of nations’. https://lnkd.in/gzWti9h Out of the 12 most indebted countries, it shows the UK has had the ...
    • 8 May 2018
  • ICAEW Chart of the week

    Our chart this week again comes from our recently published report: The debt of nations - definitely worth a read. The usual measure used to compare borrowing between countries is the ratio of net public debt to GDP.  We do not think ...
    • 1 May 2018
  • ICAEW Chart of the week

    Our chart this week is from our report ‘the debt of nations’ published last week which we hope will be a 'must-read' for anyone affected by how our governments manage public debt; in other words everyone.  Low interest rate...
    • 24 Apr 2018
  • Future proofing your SME

    That small and medium sized enterprises (SMEs) form an integral part of the UK’s economy is not in doubt. Of the 5.7m businesses in the UK, 99% are SMEs, accounting for more than 60% of all private sector employment. That SMEs are operating in ...
    • 20 Apr 2018
  • Two minute read: the FCA’s proposed improvements to  investment managers

    There has been an extensive amount of press about the UK investment management industry recently, including a lot of work by the Financial Conduct Authority, culminating in their Market Study Report. In early April, they published further informatio...
    • 19 Apr 2018
  • The debt of nations

    I’m very pleased to present our most recent addition to the Better Government Series: “The debt of nations”. Since 2001 there has been a dramatic increase in borrowing by governments to nearly £30 trillion, a tripling in...
    • 18 Apr 2018
  • Has trust in small and medium-sized businesses been damaged by the light-touch regulatory regime?

    Credibility is an increasingly scarce commodity these days, it seems. In the era of ‘fake news’, with the floodgates of misinformation open wide, it’s beginning to seem as though the problem might not be that audit is too onerous, b...
    • 17 Apr 2018
  • ICAEW Chart of the week

    This week’s chart is on the subject of debt. Public debt. This is the subject of a forthcoming report in the ICAEW’s Better Government Series, which examines the level of public debt around the world. It is not a pret...
    • 17 Apr 2018
  • Embracing digital transformation in SMEs

    Embracing technological change was a key theme running throughout the Chancellor’s latest Spring Statement. Among his announcements were: steps towards improving the UK’s digital connectivity with the first allocation of the first wave o...
    • 13 Apr 2018
  • Top 10 tips to transition from FC to FD

    We know from talking to chartered accountants climbing the career ladder that you find it relatively easy to gather the additional technical skills you need. Formal training or reading is most often the way you acquire them, because you know what you...
    • 13 Apr 2018
  • The Lord Mayor's Delegation to China

    I was recently invited to join the Lord Mayor of the City of London’s business delegation to China, along with a small array of senior figures from banking, insurance, legal and accountancy. The principle concerns of the delegation were to prom...
    • 11 Apr 2018