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: [email protected] 

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 of Behind the Numbers, we discuss gender inequality in investment.

Women continue to be underrepresented in venture capital, particularly at senior levels. The scales are even less balanced for female founders, who received just 2% of venture capital funding in recent years. As the new government puts productivity and growth at the top of its national agenda, how do we get things moving?

Philippa Lamb is joined by entrepreneur and chartered accountant Tanuvi Ethunandan; Helen Burnell, Partner at law firm Shoosmiths; and Suzi Gillespie, Head of Research at the British Private Equity & Venture Capital Association.

Links 

• ICAEW Women in Finance Community: https://www.icaew.com/groups-and-networks/communities/join-women-in-finance-community 

Host

Philippa Lamb

Guests

• Tanuvi Ethunandan, entrepreneur and product manager
• Helen Burnell, Partner, Shoosmiths
• Suzi Gillespie, Head of Research, British Private Equity & Venture Capital Association

Producer

Natalie Chisholm

Episode first published: 2 August 2024
Podcast recorded: 26 July 2024

One week on from the general election, this special episode of Accountancy Insights discusses the policies of the new UK government.

The Labour Party has taken power with a sweeping victory not seen since 1997. Now, it faces the same challenge that successive governments have struggled to tackle: kickstarting the UK economy. With little room for manoeuvre in the public finances, can anything move the dial when it comes to boosting growth?

Guest host Iain Wright is joined by Frances Haque, Chief Economist at Santander UK, and David Williamson, Political Editor at the Sunday Express.

Links

• ICAEW Manifesto 2024: https://www.icaew.com/technical/economy/manifesto-2024
• ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor 

Host

Iain Wright, Managing Director, Reputation and Influence, ICAEW

Guests

• Frances Haque, Chief Economist, Santander UK
• David Williamson, Political Editor, Sunday Express

Producer

Natalie Chisholm 

Episode first published: 12 July 2024
Podcast recorded: 11 July 2024

In this episode of Behind the Numbers, we discuss strategies to prevent and tackle groupthink at board level.

By suppressing debate and disrupting effective decision-making, groupthink poses a significant governance challenge for firms. Notably, the recent scandal over fee transparency at wealth manager St James’s Place – which has set aside £426m for client refunds – has been blamed on groupthink in the boardroom.

Philippa Lamb examines ways forward with Baroness Helena Morrissey, financier and former Non-Executive Director at St James’s Place; Peter van Veen, Director of Corporate Governance and Stewardship at ICAEW; and Kevin Davidson, CEO of executive search and board advisory firm Norman Broadbent.

Links 

• Tackling groupthink – why stupid questions don’t exist: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jun-2024/tackling-groupthink-why-stupid-questions-dont-exist 

Host

Philippa Lamb

Guests

• Baroness Helena Morrissey, financier
• Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW
• Kevin Davidson, CEO, Norman Broadbent

Producer

Natalie Chisholm

Episode first published: 28 June 2024
Podcast recorded: 21 June 2024

In this episode, we discuss important developments in corporate reporting, including amendments to UK GAAP, new standards IFRS18 and IFRS19, and the timeline for implementing IFRS S1 and IFRS S2. We also discuss the evolving VAT treatment of private hire vehicles as a result of recent court cases and how the Treasury may seek to respond.

Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy, and Ed Saltmarsh, Technical Manager, VAT and Customs.

Links

• Be part of ICAEW Corporate Reporting: https://www.icaew.com/joincrf 
• ICAEW: The road ahead for VAT and PHVs: https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/the-road-ahead-for-vat-and-phvs 

Host

Philippa Lamb

Guests

• Sally Baker, Head of Corporate Reporting Strategy, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW

Producer

Natalie Chisholm 

Episode first published: 5 June 2024
Podcast recorded: 3 June 2024

In this ICAEW Insights In Focus episode, we discuss the use of artificial intelligence in audit. 

Depending on who you talk to, generative AI is either going to revolutionise the way auditors work or replace certain roles in the sector entirely. The truth probably lies somewhere in between. So, how are auditors beginning to use AI? And how can practices sift marketing fact from fiction and navigate the risks introduced by using AI tools?

To answer those questions, Philippa Lamb is joined by Konrad Bukowski-Kruszyna, Audit Data Analytics Director at RSM UK; Fay Bordbar, Global Digital Skills Lead at Mazars; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW

Links 

• ICAEW - Generative AI Guide: https://www.icaew.com/technical/technology/artificial-intelligence/generative-ai-guide
• ICAEW - Finance in a Digital World: https://www.icaew.com/technical/technology/finance-in-a-digital-world 

Host

Philippa Lamb

Guests

• Konrad Bukowski-Kruszyna, Audit Data Analytics Director, RSM UK
• Fay Bordbar, Global Digital Skills Lead, Mazars
• Oliver Nelson-Smith, Tech Policy Manager, ICAEW

Producer

Natalie Chisholm

Episode first published: 29 May 2024
Podcast recorded: 23 May 2024

In this episode of the ICAEW Insights podcast, we discuss upcoming changes to company size thresholds and what they mean for reporting requirements. Plus, with capital gains tax in the headlines, we explore the rules and restrictions when it comes to selling residential property. 

Philippa Lamb is joined by Sally Baker, Head of Corporate Reporting Strategy, and Caroline Miskin, Senior Technical Manager in Digital Taxation. 

Links 

• ICAEW: By All Accounts: https://www.icaew.com/technical/corporate-reporting/corporate-reporting-resources/by-all-accounts 
• ICAEW: TAXline: https://www.icaew.com/technical/tax/tax-faculty/taxline  

Host 

Philippa Lamb 

Guests 

• Sally Baker, Head of Corporate Reporting Strategy, ICAEW 
• Caroline Miskin, Senior Technical Manager, Digital Taxation, ICAEW 

Producer 

Natalie Chisholm  

Episode first published: 10 May 2024
Podcast recorded: 1 May 2024 

In this special bonus episode of Insights In Focus, we meet new ICAEW CEO Alan Vallance to discuss the leadership lessons of his career. 

Alan is an ICAEW Chartered Accountant and joined the Institute as CEO in April 2024. His career has spanned various sectors and countries, as well as detailed experience in leading membership bodies RIBA and the Chartered Insurance Institute in recent years.

In this conversation with Philippa Lamb, Vallance shares how his career journey has shaped his approach to leadership – from qualifying as an ACA at Ernst & Whinney (now EY) to working in post-Soviet Hungary and his 15 years with Australia Post at a time of early digitalisation.

Links 

• How the profession can embrace change, according to ICAEW’s new CEO: https://www.icaew.com/insights/viewpoints-on-the-news/2024/apr-2024/how-the-profession-can-embrace-change-according-to-icaews-new-ceo

Host

Philippa Lamb

Guest

Alan Vallance, CEO, ICAEW

Producer

Natalie Chisholm

Episode first published: 3 May 2024
Podcast recorded: 25 April 2024

In this Insights In Focus episode, we discuss how accountants can build the skills needed to take on leadership and executive roles during their careers.  

In a recent report by the Financial Times, one anonymous headhunter was quoted as saying: “If America is run by lawyers, then the UK is run by accountants.” It’s backed up by the data, too: around one-third of today’s FTSE 100 CEOs have previously served as CFOs in their careers. But what makes finance professionals a good fit for the top spot? And what skills beyond financial prowess will help them make a success of it? 

To answer those questions, host Philippa Lamb is joined by Sarah Walker-Smith, CEO of legal and professional services group Ampa; Joe Dubbin, Managing Director of executive search firm Cripps Leadership Advisors; and Melanie Coeshott, career coach and mentor at Blue Diamond. 

Links 

• ICAEW Academy: https://www.icaew.com/learning-and-development/academy
• ICAEW: The Tax Track podcast: https://www.icaew.com/insights/podcast/the-tax-track
• ICAEW Student Insights podcast: https://www.icaew.com/insights/student-insights/podcast 

Host

Philippa Lamb

Guests

• Sarah Walker-Smith, CEO, Ampa
• Joe Dubbin, Managing Director, Cripps Leadership Advisors
• Melanie Coeshott, career coach, Blue Diamond

Producer

Natalie Chisholm

Episode first published: 17 April 2024
Podcast recorded: 12 April 2024