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Blogs

  • ICAEW Chart of the week

    We thought we might look at one of the UK government’s key risk management tools in our chart this week – the UK’s foreign reserves. These principally comprise financial investments in the sovereign debt of other countries, to...
    • 30 Nov 2018
  • ICAEW Chart of the week

    This week's chart is about export credit guarantees and the associated risk carried on government balance sheet. We compared the exposure of the UK government to guarantees provided by UK Export Finance to the equivalent exposure of the German fede...
    • 21 Nov 2018
  • How to improve your annual report and accounts - FRC guidance on 2018 corporate reporting

    FRC Guidance With the annual financial reporting season nearly upon us, the FRC has  provided UK companies with advice on how to improve the quality of their corporate reporting. Much of the guidance is aimed at listed companies and IFRS reporte...
    • 15 Nov 2018
  • ICAEW Chart of the week

    The recent budget contained 53 announcements on spending and 33 announcements on tax. As our chart this week shows, the headline was an extra £7bn for the NHS in 2019-20, rising to £28bn in 2023-24. £84bn over the forecas...
    • 14 Nov 2018
  • Probate Fees to increase – a ‘stealth’ tax in every sense?

    On 5 November and quite out of the blue, the junior Justice Minister Lucy Fraser announced that a new statutory instrument had been laid before Parliament to implement a new banded structure of fees for a grant of probate. Although the new fees are ...
    • 9 Nov 2018
  • ICAEW Chart of the week

    Our chart this week takes a look at the OBR’s latest forecast for public sector net debt over the next five years. While the Chancellor said debt is expected to fall, it is important to understand that this does not mean that debt will go down....
    • 8 Nov 2018
  • If not you, then who? If not now, then when?

    My 2018 One Young World Experience Inspired, empowered and compelled. These are the words that immediately spring to mind when reflecting on the memorable One Young World Summit held in The Hague, the international city of Peace and Justice, from 17 ...
    • 6 Nov 2018
  • Brexit: A message to our members and students in Europe

    As the date of the UK’s withdrawal from the European Union approaches, we are contacting all our members and students living and working in the Europe Region to let you know that there are ICAEW resources to hand which can assist with practical...
    • 6 Nov 2018
  • ICO publishes new guidance on passwords and encryption

    The Information Commissioner's Office ( ICO) has published updated guidance on the use of passwords and encryption to protect data.  This is part of a commitment by the ICO to produce new guidance on the Data Protection Act...
    • 5 Nov 2018
  • Changes to the Charity & Voluntary Sector Community

    Head of Charity & Voluntary for ICAEW, Gillian McKay, tells us about the changes coming up for the Charity & Voluntary Sector Community and her thoughts on challenges for the sector. What changes are happening to the Charity & Voluntary ...
    • 1 Nov 2018
  • Goodbye PFI - The Autumn Budget 2018 - commentary from the Corporate Finance Faculty

    An unexpected increase in tax receipts of £13bn afforded a Chancellor with a reputation for prudence the opportunity to move towards an end to austerity in the Autumn, pre-Brexit (and probably, mid-term) Budget. Headlines have focused on i...
    • 30 Oct 2018
  • ICAEW Chart of the week

    The Chancellor was in a positive mood yesterday as he presented a budget to deliver the commitment to increase NHS spending without large tax increases. The reason was an improvement in the OBR’s fiscal forecasts. As illustrated by our chart ...
    • 30 Oct 2018
  • ICAEW Chart of the week

    With the budget less than a week away our two chapters in this year’s IFS Green Budget are proving highly relevant. While the Chancellor will benefit from prudence in previous forecasts, the underlying position remains extremely challengi...
    • 24 Oct 2018
  • ICAEW Chart of the week

    Our chart this week is about defence - the subject of our second chapter in this year’s IFS Green Budget. The chapter examines how the evolving defence and security position might affect defence resources and spending, and the pressure thi...
    • 17 Oct 2018
  • Bye-law changes for ICAEW members and firms

    Bye-law changes have come into effect this month for ICAEW members and firms:  Disciplinary Bye-laws: significant changes now effective Changes to the Disciplinary Bye-laws (DBLs) include the introduction of time limits for the investigation of...
    • 16 Oct 2018
  • 3 Steps to Take Advantage of AI and Machine Learning at Your Accounting Firm

    Chat to anyone with an interest in accounting tech and you’re sure to hear the terms, ‘machine learning’ and ‘artificial intelligence’ (AI), come up. So what do these terms mean for you, and are they relevant for you an...
    • 15 Oct 2018
  • Introducing ISA 540 (Revised): how will it impact your audit of estimates?

    The IAASB has issued ISA 540 (Revised) and the FRC in the UK is expected to follow suit, with ISA (UK) 540 (Revised July 2018) currently out for exposure. While the revised ISA isn’t radically different from the existing ISA, there are some cha...
    • 11 Oct 2018
  • ICAEW Chart of the week

    Next Tuesday, ICAEW will host the launch of Institute for Fiscal Studies' 2018 Green Budget. This is the authoritative pre-Budget report on the outlook for the UK economy supported by in-depth analysis on the options available to the Chancellor. Th...
    • 9 Oct 2018
  • Professional Indemnity Insurance (PII) changes and new guidance

    This month sees new guidance and changes introduced for PII: Changes to the ICAEW’s Professional Indemnity Insurance (PII) Regulations and minimum wording came into effect on 1 October 2018. The changes to the PII Regulations have been made for...
    • 4 Oct 2018
  • ICAEW Chart of the week

    Today's chart of the week is on the recent increase in the oil price to above $80 a barrel. Given the potential impact on the global economy, this rise is the cause of some concern. A sudden spike in oil prices has been linked to a number of past rec...
    • 3 Oct 2018
  • ICAEW Chart of the week

    With suggestions that the retail prices index (RPI) may be on its way out, our chart this week is on the subject of inflation. RPI is consistently higher than the consumer price index (CPI), with RPI on average 0.8% higher than CPI since 2010. ...
    • 1 Oct 2018
  • ICAEW Chart of the week

    With apologies for the delay in posting while I was overseas, our chart from last week is on the subject of what the 66.6 million people that live in the United Kingdom do. 31.6m (47%) of UK citizens, are in full or part time work - exclud...
    • 1 Oct 2018
  • Probate reaches 300

    In August 2014, ICAEW gained the power to regulate probate - the first organisation outside the legal profession to do so. Until this time only solicitors could undertake probate work. Since then many accountancy firms have gained the accreditation t...
    • 25 Sep 2018
  • Practising certificate holders (UK) – new OPBAS levy

    The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) levies an annual charge on all professional body supervisors (which includes ICAEW), based on the number of beneficial owners, officers and managers in the firms registered wi...
    • 20 Sep 2018
  • Join us for a screening of ICAEW’s second educational film, Without Question: next venues - Birmingham and London

    Set within a family owned company Without Question provides an interesting and impactful way to highlight the challenges of directors and professional advisers seeking assurance on difficult issues as well as the underestimated importance of skills l...
    • 19 Sep 2018