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Tax returns – so easy with software what can go wrong?
Tax software has developed significantly over the years but has needed to because of the complexities of the tax system. Once the data has been entered, the tax calculation is now very easy – just click the calculate button and it is all done i...
11 Jul 2019
HMRC discussions – prototype of new agent services setup screens
I spent over an hour at the end of June discussing a prototype HMRC have been developing for their web services. It turned out to be a discussion on creating a new “agent services account” for signing up and migrating clients to MTD. This...
4 Jul 2019
AI in Corporate Advisory
A key priority in the Tech Faculty is researching and sharing practical experience of how technologies such as AI are being used in different parts of the profession. So it was great to sit on a panel yesterday at the launch of ICAEW’s new repo...
4 Jul 2019
New technologies, ethics and accountability
We talk a lot in the Tech Faculty about the potential benefits of new technologies such as AI, big data and data analytics. But we also need to recognise growing concerns about the harm that some of these technologies can cause in the real world. For...
3 Jul 2019
Excel Community round-up - June 2019
Here is all of June's new Excel content. Excel Community and Tech Faculty members can access all posts by logging in to their accounts: Other users can access posts described as "public". Excel Tip of the Week
3 Jul 2019
Becoming a virtual FD
With much talk about the move from compliance to advisory, our latest
Tech Essentials guide
outlines the path to becoming a virtual FD, with case studies and a list of next steps included. I cover some of the essential lessons below. What is a virtua...
2 Jul 2019
Excel Tip of the Week #296 - Data validation redux
Data validation can help steer users clear of errors, and has a wealth of flexibility underneath the hood.
2 Jul 2019
How much “technology advice” do you provide to clients?
Some clients are very IT savvy or have their own in-house IT support services, or perhaps buy in specialist support when needed. However, is this an area in which you can add value and therefore produce an additional revenue stream? For the small bus...
28 Jun 2019
Can your cyber defences be as strong as a huge corporation? Yes!
Recently, I have been reading reports on the NCSC
platform on the threats posed by various hacking groups; some possibly state actor groups. At the end of these reports (not publicly available, but very similar reports have appea...
27 Jun 2019
Accountants can't do their job properly without an understanding of Power Query
This statement might be going a bit far, even for as fervent an advocate of Power Query as I am. However, it's what one of my clients said after we had used Power Query to revolutionise their month-end management accounts process. Of course, not all...
26 Jun 2019
New Innovate competition for investment into data access methods in accountancy
Access to data has always been a real pain point for accountants, and professional services more generally, and we have seen lots of discussions in recent months about how to improve capabilities and standards in this area. While it may not be t...
24 Jun 2019
How long does that task take….? Not very long!
The question is akin to asking how long is a piece of string? The response above is generally the answer given to the question when posed. I really do hate this response with a passion! How many working practices continue year in, year out in the sam...
23 Jun 2019
How do firms in the mid-market use data analytics?
At our next Mid Market Tech Forum on 10 July, we will be discussing how firms in the mid-market use data analytics – within their firms and with their clients. The move from compliance to advisory is well documented, and the use of data an...
21 Jun 2019
Video - data: a world of opportunities
I am joined by Kirstin Gillon of ICAEW and Anthony Sayce FCA of EY, for the fourth in our series of Tech Faculty ‘Tech Talks’, this time on the subject of data and the opportunities it presents for practice and business. You can
20 Jun 2019
Accountants' guide to Excel – Excel Tables: Tables and Excel automation part 3
Part 3 of our series on improving the automation of Excel spreadsheets through the use of Tables
has just been posted to the Excel Community site. As well as covering quick ways to create references to Table contents, it shows how Table structur...
19 Jun 2019
Can the big banks compete with the challenger banks?
Back in February of 2019, Lloyds Banking Group announced it was enhancing its integrated banking solution for its customers. This week it
announced yet more improvements
to come in 2019. The latest upgrades will allow customers to see savings and cred...
19 Jun 2019
Can staff be your first line of cyber defence?
Yes. Cyber security works best when an organisation takes an integrated approach. Starting with understanding the risks, developing appropriate policies and procedures and also deploying suitable technology. Staff awareness is at the very heart of un...
18 Jun 2019
Tax return preparation –moving from 5 minutes to 2 hours – is this really progress?
We have a client with two small sources of employment, 12 monthly payments for grass cutting and another 12 for mole catching(!), and a small amount of interest. Trying to prepare this simple tax return that should take minutes can turn into hours! T...
17 Jun 2019
Do you wish to know more about technology?
The pace of change has never been faster and will never be this slow again. Technology has underpinned all business since before the invention of movable type. However unlike the technology of the past, technology today is complex to understand and c...
17 Jun 2019
I gave up my Apple Watch to learn what I loved about it
Back in late March 2019, I sold my
Apple Watch Series 3
. The question is: have I missed not having it? As with so many things you only realise how much you value something when it has gone. When I bought it I was unsure if I would like...
13 Jun 2019
Corporate transparency and register reform - consultation request
Companies House is running a consultation on modernisation of registration and improvements to corporate transparency. One area that this touches on is the use of iXBRL for accounts filings, and the recent announcement by the European Securitie...
12 Jun 2019
Welcome to the new Tech Faculty!
Some 28 years after the faculty was launched (and after many years of discussion within our main governing board) we are excited to announce we have rebranded the IT Faculty to become the new ICAEW Tech Faculty! This is in recognition of the increasi...
11 Jun 2019
How do you assure an algorithm anyhow?
For the last few months, I've been doing research for a new thought leadership report - tentatively titled "Assurance for New Technologies". The central question for this report is simple: How do you audit a blockchain? What does an assur...
11 Jun 2019
Talking blockchain at the EAA
David recounts his experience at the 2019 meeting of the EAA academic conference.
10 Jun 2019
Back to Basics – spend some time looking at the “how”…
How are working papers prepared before the figures end up in the profit and loss account and balance sheet? Whilst everyone is busy and there never seems to be enough time, it is sometimes worth looking at the underlying methodologies of the accounts...
7 Jun 2019
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Ethics and new technologies
The 2019 Tech Faculty lecture will look at the impact of ethics on the development of new technologies. It will be presented by Oxford Academic Professor...
Upcoming Excel webinars and events
Over the next few weeks, we have several events and webinars that you can join. Read on for more details! Webinar - Financial Modelling Code Friday...
Congratulations to the winners of our competition!
We asked you for your Excel New Year's Resolutions in our competition in partnership with Filtered. There were separate competitions for IT Faculty /...
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