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Blogs

  • Internal audit and academy schools

    Why quality assurance gets top marks Academies have a unique role in education. They are publicly funded but do not have follow the National Curriculum and they can set their own term times. They are still subject to Ofsted. And although they receiv...
    • 7 Aug 2018
  • The ICO sets out the new fees and registration rules applicable to Data Controllers

    In May 2018 the Data Protection Act 2018 introduced GDPR into UK law.  One of the many changes to data protection law was with regard to ICO registration and fees.  In this blog post we will explain how the new fee structure works and how i...
    • 7 Aug 2018
  • Building your cybersecurity defences

    Cybersecurity is a subject that comes up in the news on a very regular basis. Last year’s ransomware attack on 48 NHS trusts in England and 13 in Scotland with WannaCry or WannaDecryptor showed that no organisation was safe from cybercrime. Mor...
    • 3 Aug 2018
  • ICAEW Chart of the week

    July's heat wave has turned our thoughts away from the public finances  to the delights of the summer this week. Hot weather and blue skies. Sunbathing in the park. Ice-cream melting into a puddle. Swimming in open-air pools. Al fresco...
    • 25 Jul 2018
  • Worker Representation on Boards

    Recently I attended EY’s Summer Reception event where 3 speakers shared their experience of worker representation on boards. This week’s new Corporate Governance Code includes a principle on the importance of engagement with the workforc...
    • 20 Jul 2018
  • ICAEW Chart of the week

    With everything else going on this month, you may have missed today's publication of the Office for Budget Responsibility’s Fiscal Sustainability Report.  This sets out the government’s official long-term fiscal foreca...
    • 17 Jul 2018
  • We'd like to hear your views: ICAEW Probate Action Plan consultation now open

    We are now inviting responses to the consultation on our ICAEW Probate Action Plan for delivering greater transparency in the legal services market. The ICAEW Probate Action Plan has been developed in response to recommendations made by the Competiti...
    • 17 Jul 2018
  • 2018 so far in the Europe Region: a brief round-up

    In my previous blogs, I talked about building our community in Europe and our member engagement. The first half of this year has seen us developing initiatives to build our engagement with you – strengthening our support to member groups and in...
    • 13 Jul 2018
  • Remembering Julian Paleson – ICAEW’s first Brussels Director

    June saw the sad passing of Julian Paleson, ICAEW’s first director in Brussels – and a good friend. Julian was a very unique and unforgettable man. Everyone who met him, or was in the audience at one of his many speeches, enjoyed his incr...
    • 13 Jul 2018
  • Does your firm provide trust and company services? HMRC needs to know...

    Under Regulation 54 of MLR17, HMRC must maintain a register of all relevant persons who are trust or company service providers (TCSPs) that are not already registered with FCA. Firms that are not on the register are not permitted, under the MLR17, to...
    • 11 Jul 2018
  • ICAEW Chart of the week

    Tomorrow we are hosting a joint event at Chartered Accountants Hall with the Fabian Society. Our aim is to explore the challenges facing Labour in realising the aspirations it set out in its 2017 manifesto, at the same time as ensuring soun...
    • 10 Jul 2018
  • ICAEW Chart of the week

    The chart for the 3rd of July. Last year we published a policy insight ‘Analysing the EU exit charge’ explaining the likely elements of an exit charge payable by the UK on leaving the EU. Our higher scenario of £30bn was based on c...
    • 9 Jul 2018
  • ICAEW Chart of the week

    With apologies for a delayed chart due to annual leave - this is the chart for the 26th June. On Thursday 21st June, the Chancellor Philip Hammond announced a £1.2bn capital injection into the Bank of England, which prompted us to take a look a...
    • 9 Jul 2018
  • Companies House engagement

    On 31 May, ICAEW hosted the first accountancy stakeholder roundtable meeting at Chartered Accountants' Hall between Companies House and 12 professional accountancy bodies from the UK and Ireland. Representatives from Companies House included Louise S...
    • 5 Jul 2018
  • Is your firm an ICAEW audit registered firm? Read our latest report and access the new substantive audit evidence webinars

    Audit Monitoring 2018 is now available This new report brings together the latest results from our monitoring visits and highlights the most common pitfalls and how to avoid them. Findings include learning points following the introduction of FRS 102...
    • 22 Jun 2018
  • 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