Accountancy Insights – Details, episodes & analysis

In this episode of Behind the Numbers, we discuss ways to improve recruitment and retention in accountancy.

While the pipeline of new joiners remains healthy, holding onto qualified staff is proving challenging. New research by ICAEW on mid-tier firms demonstrates just how significant the issue is – with 70% of participants identifying talent as their most significant challenge. So, what needs to happen for more professionals to view accountancy as a long-term career choice?

To explore the key issues, host Philippa Lamb is joined by Kat Hearn, Senior Technical Manager at ICAEW; Androulla Soteri, Chief People Officer at Dains Accountants; and Lola Abitogun, who qualified as a chartered accountant before establishing Alchemy HR.

Links 

• ICAEW: Evolution of mid-tier accountancy firms
  https://www.icaew.com/technical/practice-resources/evolution-of-mid-tier-accountancy-firms 

Host

Philippa Lamb

Guests

• Kat Hearn, Senior Technical Manager, ICAEW
• Androulla Soteri, Chief People Officer, Dains Accountants
• Lola Abitogun, Founder, Alchemy HR

Producer

Natalie Chisholm

Episode first published: 23 August 2024
Podcast recorded: 15 August 2024

In this bumper episode, we discuss the latest findings of ICAEW’s Business Confidence Monitor and why three-quarters of councils in England are at least a year behind in publishing audited accounts. Plus, we hear an update on the probate service and explore ICAEW’s recommendations for the new government’s business tax road map.

Philippa Lamb is joined by Iain Wright, Managing Director of Reputation and Influence; Alison Ring, Director of Public Sector and Taxation; Sophie Wales, Director of Regulatory Policy; and Richard Jones, Senior Technical Manager in Tax Policy.

Time codes

• 00:58 ICAEW Business Confidence Monitor
• 10:33 Local authority finances
• 17:21 Probate service
• 24:52 Business taxation

Links

• ICAEW Business Confidence Monitor: https://www.icaew.com/bcm
• ICAEW probate hub: https://www.icaew.com/probate
• ICAEW Tax Faculty: https://www.icaew.com/technical/tax/tax-faculty 
• ICAEW TAXline: https://www.icaew.com/taxline
• ICAEW Budget submissions: taxfac@icaew.com 

Host

Philippa Lamb

Guests

• Iain Wright, Managing Director, Reputation and Influence, ICAEW
• Alison Ring, Director, Public Sector and Taxation, ICAEW
• Sophie Wales, Director, Regulatory Policy, ICAEW
• Richard Jones, Senior Technical Manager, Tax Policy, ICAEW

Producer

Natalie Chisholm 

Episode first published: 12 August 2024

In this episode, we discuss why the arrival of the 2024/25 tax year is particularly busy for accountants, and the main changes to be aware of from 6 April. Plus, six months on from the passing of the Economic Crime and Corporate Transparency Act, we learn what progress has been made to enact its various provisions.

To shed light on those two topics, Philippa Lamb is joined by Stephen Relf, Technical Manager, Tax, and Sally Baker, Head of Corporate Reporting Strategy.

Links

• ICAEW: The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track
• ICAEW: Tax changes taking effect from April 2024: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/tax-changes-taking-effect-from-april-2024 
• ICAEW: Economic crime hub: https://www.icaew.com/technical/trust-and-ethics/economic-crime 
• Economic Crime and Corporate Transparency Act 2023: the story so far: https://www.youtube.com/watch?v=UAZWpeLR_T0 

Host

Philippa Lamb

Guests

• Stephen Relf, Technical Manager, Tax, ICAEW
• Sally Baker, Head of Corporate Reporting Strategy, ICAEW

Producer

Natalie Chisholm 

Episode first published: 5 April 2024
Podcast recorded: 26 March 2024

In this Insights In Focus episode, we discuss how changes to the funding of British farms could affect the UK’s broader economic resilience.

As a result of Brexit, British farms will stop benefiting from the EU Common Agricultural Policy by the end of 2027. The policy paid subsidies largely regardless of land use. Now, farmers need to transition to new schemes established by the UK’s devolved administrations. These require farms to meet environmental requirements such as hedge management, rewilding and tree-planting, which critics say will have a negative impact on food production and reduce the UK’s resilience to market shocks.

To discuss the future of British farming, host Philippa Lamb is joined by David Missen, consultant at Larking Gowen, and Roseanne Bennett, partner at Greaves West & Ayre.

Links 

• ICAEW Farming & Rural Business Community: https://www.icaew.com/technical/farming-and-rural-business 

Host

Philippa Lamb

Guests

• David Missen, consultant, Larking Gowen
• Roseanne Bennett, partner, Greaves West & Ayre

Producer

Natalie Chisholm

Episode first published: 22 March 2024
Podcast recorded: 11 March 2024

In this Insights In Focus episode, we discuss the contents of the 2024 Spring Budget and their likely impacts on the UK economy.

The Spring Budget was delivered against the backdrop of recession and persistent inflation. While the Chancellor had better-than-expected headroom for delivering tax cuts, the UK economy and its public finances are still navigating a difficult road to recovery. And, with a general election taking place within the year, will anything announced on 6 March have an impact on public sentiment?

Host Philippa Lamb breaks down the Spring Budget with Iain Wright, ICAEW Managing Director, Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express.

Links 

• ICAEW: Spring Budget 2024: https://www.icaew.com/technical/economy/spring-budget-2024
• ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024
• ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
• ICAEW Resilience and Renewal hub: https://www.icaew.com/technical/economy/resilience-and-renewal 

Host

Philippa Lamb

Guests

• Iain Wright, Managing Director, Reputation and Influence, ICAEW
• David Williamson, Political Editor, Sunday Express
• Frances Haque, Chief Economist, Santander UK

Producer

Natalie Chisholm

Episode first published: 8 March 2024
Podcast recorded: 7 March 2024

In this Insights In Focus episode, we catch up with ICAEW Chief Executive Michael Izza ahead of his stepping down from his role later this month.

Izza has been with ICAEW since 2002 and Chief Executive since 2006. In that time, he’s steered the Institute through the global financial crisis, the pandemic and the early stages of a global technological revolution.

Host Philippa Lamb discusses with Izza the fresh challenges and opportunities facing the profession, as well as what he will be taking away from his time at ICAEW.

Links 

• ICAEW Insights: https://www.icaew.com/insights
• ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024 
• ICAEW - Alan Vallance announced as new ICAEW Chief Executive: https://www.icaew.com/insights/viewpoints-on-the-news/2023/oct-2023/alan-vallance-announced-as-new-icaew-chief-executive 

Host

Philippa Lamb

Guest

Michael Izza, Chief Executive, ICAEW

Producer

Natalie Chisholm

Episode first published: 1 March 2024
Podcast recorded: 22 February 2024

In this episode, we discuss how firms can maintain momentum on the International Standard of Quality Management, as well as changes in preparation and filing as a result of the Economic Crime and Corporate Transparency Act. We also hear about ICAEW’s new podcast, The Tax Track, and changes to the Engaging in Public Practice certificate.

Philippa Lamb is joined by Alex Russell, Head of Audit and Assurance Strategy; Sally Baker, Head of Corporate Reporting Strategy; Lindsey Wicks, Senior Technical Manager for Tax Policy; and Chris Greenhalgh, Manager in Professional Standards.

Links

• ICAEW - Quality management in audit firms: https://www.icaew.com/technical/audit-and-assurance/audit/quality-management-in-audit-firms
• ICAEW Corporate Reporting faculty: https://www.icaew.com/groups-and-networks/faculties/corporate-reporting-faculty
• ICAEW -  By All Accounts: https://www.icaew.com/technical/corporate-reporting/corporate-reporting-resources/by-all-accounts 
• Changes to accounts preparation and filing requirements: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jan-2024/changes-to-accounts-preparation-and-filing-requirements 
• ICAEW - The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track
• ICAEW - TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline 
• ICAEW - Practising certificates: https://www.icaew.com/technical/practice-resources/practising-certificates 

Host

Philippa Lamb

Guests

• Alex Russell, Head of Audit and Assurance Strategy, ICAEW
•  Sally Baker, Head of Corporate Reporting Strategy, ICAEW
• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Christopher Greenhalgh, Manager, Professional Standards, ICAEW

Producer

Natalie Chisholm 

Episode first published: 9 February 2024
Podcast recorded: 5 February 2024 

In this Insights In Focus episode, we discuss the future of audit and corporate governance reform.

Back in May 2022, after years of reviews and consultations, the government announced its plans for reform. The key proposals included the area of a new audit regulator, a wider definition of public interest entities, and ensuring that FTSE 350 firms would not be wholly reliant on the largest audit firms.

However, nearly two years on, very little has changed. Corporate governance reform was quietly dropped by the government in October 2023, and audit reform was notably absent from the King’s Speech the following month. So, what happens now?

Host Philippa Lamb is joined by Iain Wright, ICAEW Managing Director of Reputation and Influence; Darren Jordan, Partner at Moore Kingston Smith; and Maria Kepa, EY Director in Corporate Governance.

Links 

• ICAEW Audit and Assurance hub: https://www.icaew.com/technical/audit-and-assurance 
• ICAEW - Working in the regulated area of audit: https://www.icaew.com/regulation/working-in-the-regulated-area-of-audit 

Host

Philippa Lamb

Guests

• Iain Wright, Managing Director, Reputation and Influence, ICAEW
• Darren Jordan, Partner, Moore Kingston Smith
•  Maria Kepa, Director, Corporate Governance, EY

Producer

Natalie Chisholm

Episode first published: 1 February 2024
Podcast recorded: 26 January 2024

In this Insights In Focus episode, we discuss what 2024 is likely to bring for businesses and their accountants.

Beyond a Spring Budget and elections on both sides of the Atlantic, there are few certainties for the coming 12 months. Looking at ICAEW’s Business Confidence Monitor and forecasts from the Office for Budget Responsibility and the Bank of England, 2024 is likely to be another challenging year of low growth and weak business and consumer sentiment. As with recent years, uncertainty is set to be the only constant. 

A year on from making their predictions for 2023, host Philippa Lamb is again joined by Iain Wright, ICAEW Managing Director, Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express. 

Links 

• ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor
• ICAEW Resilience and Renewal hub: https://www.icaew.com/technical/economy/resilience-and-renewal 

Host

Philippa Lamb

Guests

• Iain Wright, Managing Director, Reputation and Influence, ICAEW
• David Williamson, Political Editor, Sunday Express
• Frances Haque, Chief Economist, Santander UK

Producer

Natalie Chisholm

Episode first published: 15 December 2023
Podcast recorded: 11 December 2023

In the second of two special Insights In Focus episodes, guest host Mark Rowland shares news and views from COP28 in Dubai. This episode focuses on capacity building within the finance profession and making the business case for a nature-positive transition.

Mark is joined in the studio by Sarah Reay, Climate Change Manager, ICAEW; Jessica Fries, Executive Chair, A4S; and Mardi McBrien, Chief of Strategic Affairs and Capacity Building, IFRS Foundation. Reay and Fries discuss why it is essential that the transition to a sustainable global economy places nature and biodiversity at its heart. And McBrien shares how the IFRS Foundation is driving capacity building and how all accountants can get involved.

Access ICAEW’s Making COP Count content series for more insights on sustainability and the topics covered in this episode.

Links

• ICAEW: Making COP Count: http://www.icaew.com/making-cop-count

Host

Mark Rowland

Guests

• Sarah Reay, Climate Change Manager, ICAEW
• Jessica Fries, Executive Chair, A4S
• Mardi McBrien, Chief of Strategic Affairs and Capacity Building, IFRS Foundation

Producer

Natalie Chisholm 

Episode first published: 11 December 2023
Podcast recorded: 9 December 2023