ICAEW Insights In Focus: Access to finance - supporting small businesses

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

In the first of two special Insights In Focus episodes, guest host Mark Rowland shares news and views from COP28 in Dubai. This episode focuses on the importance of transition plans in achieving net zero.

In the studio, ICAEW Climate Change Manager Sarah Reay and Resilience First’s Shazre Quamber-Hill explain why transition planning is a vital part of the COP28 agenda. And on the conference floor, LSE Professor Nick Robins and the Transition Plan Taskforce’s Nina Pimblett discuss the role that accountants and business will play in putting plans into action.

Access ICAEW’s Making COP Count content series for more insights on sustainability.

Links

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

Host

Mark Rowland

Guests

• Sarah Reay, Climate Change Manager, ICAEW
• Shazre Quamber-Hill, Director, Strategy and Impact, Resilience First
• Nick Robins, Professor in Practice for Sustainable Finance, London School of Economics and Political Science
• Nina Pimblett, Sector Guidance Lead, Transition Plan Taskforce 

Producer

Natalie Chisholm 

Episode first published: 5 December 2023
Podcast recorded: 4 December 2023

In this Insights In Focus episode, we explore the contents and implications of the Economic Crime and Corporate Transparency Act 2023.

After a challenging route through Parliament, the Act finally received Royal Assent in late October. It promises sweeping changes to Companies House and reporting requirements for SMEs. Crucially, it also covers where accountability will lie for economic crime. Many of the details are yet to be ironed out, but it’s clear that accountants will take on much of the responsibility for delivering these changes. 

Host Philippa Lamb discusses what accountants need to know with Mike Miller, ICAEW Economic Crime Manager; Alun Milford, Partner at Kingsley Napley and former General Counsel at the Serious Fraud Office; and Alice Bessell, Finance Director at Brown & Bright.
 

Links 

• ICAEW Economic Crime hub: https://www.icaew.com/technical/trust-and-ethics/economic-crime 

Host

Philippa Lamb

Guests

• Mike Miller, Economic Crime Manager, ICAEW
• Alun Milford, Partner, Kingsley Napley
• Alice Bessell, Finance Director, Brown & Bright 

Producer

Natalie Chisholm

Episode first published: 4 December 2023
Podcast recorded: 29 November 2023

The ICAEW Insights podcast explores the month’s top stories in accountancy.

In this episode, we explain how ICAEW members can apply for dual membership with the Chartered Institute of Public Finance and Accountancy (CIPFA). We also discuss the key points and learnings from this year’s Cyber Security Awareness Month and hear how ICAEW’s Resilience and Renewal campaign is progressing.

Philippa Lamb is joined by Will Holt, Managing Director of Education and Training; Bani Lamba, Data Analytics and Tech Manager; and Suren Thiru, Economies Director.

Links

• ICAEW: Dual membership expression of interest form: https://www.icaew.com/about-icaew/who-we-are/accelerated-route-to-gain-aca-and-cpfa-designation-and-dual-membership 
  
  
• Current route for ICAEW members to join CIPFA: https://www.cipfa.org/join/joining-from-another-membership-organisation 
  
  
• ICAEW Cyber Security Awareness Month 2023 hub: https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-month
  
  
• ICAEW Resilience and Renewal hub: https://www.icaew.com/technical/economy/resilience-and-renewal 

Host

Philippa Lamb

Guests

• Will Holt, Managing Director, Education and Training, ICAEW
• Bani Lamba, Data Analytics and Tech Manager, ICAEW
• Suren Thiru, Director, Economies, ICAEW

Producer

Natalie Chisholm 

Episode first published: 3 November 2023
Podcast recorded: 26 October 2023

In this Insights In Focus episode, we explore strategies to expand and upskill Britain’s workforce. 

Low unemployment is currently twinned with high vacancies, leading to a tight labour market. One cause is an increase in the number of economically inactive. And ICAEW’s Business Confidence Monitor has flagged a lack of non-management skills as an escalating challenge for the nation’s employers. 
 
So, how can we tackle these big, structural problems in the economy? Host Philippa Lamb discusses possible solutions with Suren Thiru, ICAEW Economies Director; Dan Lucy, HR Research and Consulting Director at the Institute for Employment Studies; and April Homer, Chief People Officer at accountancy practice Cooper Parry. 
 
Links  
ICAEW Resilience and Renewal hub 
https://www.icaew.com/technical/economy/resilience-and-renewal 
 
ICAEW Business Confidence Monitor 
https://www.icaew.com/technical/economy/business-confidence-monitor  
 
Host 
Philippa Lamb 
 
Guests 
Suren Thiru, Director, Economies, ICAEW  
Daniel Lucy, Director, HR Research and Consulting, Institute for Employment Studies  
April Homer, Chief People Officer, Cooper Parry   
 
Producer 
Natalie Chisholm 
 
Episode first published: 27 October 2023 
Podcast recorded: 18 October 2023