Accountancy Insights

In this episode of Behind the Numbers, we discuss the appropriateness of employee ownership trusts (EOTs) for accountancy practices.

The majority of mid-tier accountancy and audit firms are still structured as limited liability partnerships. But, with nearly half of firms citing succession planning as a critical talent challenge, and private equity investors taking more interest in the sector, some firms are now looking at other options.

Philippa Lamb explores the key issues with Graeme Nuttall OBE, author of 2012’s Nuttall Review into employee ownership and International Ambassador for the Employee Ownership Association; Simon Blake, Head of Strategic Corporate Finance at Price Bailey; and Peter Hollis, whose firm recently became an EOT.

Links 

• ICAEW: Employee ownership: https://www.icaew.com/technical/business/business-start-up-and-finance/employee-ownership 
• Insight: employee ownership trusts: https://www.icaew.com/technical/corporate-finance/corporate-finance-resources/corporate-financier/2025/articles/february/insight-employee-ownership-trusts 

Host

Philippa Lamb

Guests

• Graeme Nuttall OBE, International Ambassador, Employee Ownership Association
• Simon Blake, Head of Strategic Corporate Finance, Price Bailey
• Peter Hollis, Principal, Hollis & Co

Producer

Natalie Chisholm

Episode first published: 3 March 2025
Podcast recorded: 24 February 2025

In this episode, we discuss the latest developments in President Trump’s tariffs rollout and how they may affect UK businesses. We also explore a new joint report by ICAEW and the Chartered Institute of Taxation into HMRC service standards, which includes research findings from 31 agent firms.

Philippa Lamb is joined in the studio by ICAEW’s Iain Wright, Managing Director of Reputation and Influence, and Ed Saltmarsh, Technical Manager for VAT and Customs.

Time codes

• 00:52 Trump tariffs update
• 15:17 HMRC service standards 

Links

• ICAEW Business Confidence Monitor: https://www.icaew.com/technical/economy/business-confidence-monitor 
• ICAEW-CIOT event: 20 years of HMRC – reflections and looking ahead: https://events.icaew.com/pd/30211/
• ICAEW podcast: The Tax Track: https://www.icaew.com/insights/podcast/the-tax-track 

Host

Philippa Lamb

Guests

• Iain Wright, Managing Director, Reputation and Influence, ICAEW
• Ed Saltmarsh, Technical Manager, VAT and Customs, ICAEW

Producer

Natalie Chisholm 

Episode first published: 13 February 2025
Podcast recorded: 6 February 2025

In this episode of Behind the Numbers, we discuss continuous learning around technology and artificial intelligence.

For accountants, getting the most out of fast-evolving technologies involves more than simply training people how to use them. Judgement, communication and granular accountancy skills all come into play. So how can firms identify their training needs and what are the best ways to deliver that training?

Philippa Lamb explores the key issues with Jenny Blewett, Head of Finance at Costello Medical; Daniel Clark, business trainer and writer; and Julia Penny, Director at JS Penny and ICAEW past-President.

Links 

• ICAEW technology resources: https://www.icaew.com/technical/technology
• Mid-Tier Tech Forum: digital skills: https://events.icaew.com/pd/30692?code=ijMH8fKJCg

Host

Philippa Lamb

Guests

• Daniel Clark, business trainer and writer
• Julia Penny, Director, JS Penny; ICAEW past-President
• Jenny Blewett, Head of Finance, Costello Medical

Producer

Natalie Chisholm

Episode first published: 30 January 2025
Podcast recorded: 23 January 2025

In this special episode of Accountancy Insights, we look ahead to the most significant events and trends anticipated in 2025.

Last year brought a new UK government and its controversial first Budget. With things now appearing more settled at home, the upcoming inauguration of President Trump in the US and the recent collapse of governments in Europe will bring new opportunities and challenges for the British economy.

For the third year, host Philippa Lamb is joined in forecasting by Iain Wright, ICAEW Managing Director of 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

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: 3 January 2025
Podcast recorded: 17 December 2024

In this episode of Behind the Numbers, we discuss the progress of sustainability reporting.

Across the globe, sustainability reporting has become increasingly mandated for large organisations. Now, with the CSRD introduced in the European Union and the first two ISSB standards set to be endorsed by the UK, the challenge for accountants lies in ensuring that the quality of non-financial information matches that of financial information.

To discuss the key issues, Philippa Lamb is joined by Richard Spencer, ICAEW Director of Sustainability; David Wray, founder of ESG consultancy DWG and IESBA Ethics Board member; and Marie-Josée Privyk, ESG coach and adviser.

Links 

• ICAEW: Connecting sustainability and finance: https://www.icaew.com/technical/sustainability/resources-collection/connecting-sustainability-and-finance 
• ICAEW Sustainability Accelerator Programme: https://www.icaew.com/learning-and-development/icaew-sustainability-accelerator-programme

Host

Philippa Lamb

Guests

• Richard Spencer, Director, Sustainability, ICAEW
• Marie-Josée Privyk, ESG coach and adviser
• David Wray, Founder, DWG; IESBA Ethics Board member

Producer

Natalie Chisholm

Episode first published: 12 December 2024
Podcast recorded: 5 December 2024

In this episode, we speak to Ray McCann, fresh from delivering this year’s Hardman Lecture on Monday 25 November, about regulating the provision of tax advice. Plus, Sophie Wales, ICAEW Director of Regulatory Policy, explains upcoming changes to the ICAEW Code of Ethics around professional behaviour.

Time codes

• 00:55 Regulating tax advice
• 08:09 New professional behaviour wording

Links

• ICAEW: Hardman Lecture shines spotlight on ‘shadow’ tax advisers: https://www.icaew.com/insights/tax-news/2024/nov-2024/hardman-lecture-shines-spotlight-on-shadow-tax-advisers
• ICAEW: The new Code of Ethics: understanding professional behaviour: https://www.icaew.com/insights/viewpoints-on-the-news/2024/nov-2024/the-new-code-of-ethics-understanding-professional-behaviour 

Host

Philippa Lamb

Reporter

Mark Rowland

Guests

• Ray McCann, Consultant, Charter Tax
• Sophie Wales, Director of Regulatory Policy, ICAEW

Producer

Natalie Chisholm 

Episode first published: 2 December 2024
Podcast recorded: 25 November 2024

In this episode of Behind the Numbers, we discuss whether the filing of local authority audited accounts will ever get back on track.

Just 1% of local bodies published audited accounts on time for the 2022/23 [LE1] financial year. Now, the government has introduced backstop dates in the hopes of resetting the system, with the first arriving on 13 December. But will they anything change? And how should local authorities be managing the external audit process to ensure timely filing?

To answer those questions, host Philippa Lamb is joined by Alison Ring, ICAEW Director of Public Sector and Taxation; Cecilie Booth, Executive Director of Resources at Peterborough City Council; and Paul Dossett, Head of Public Sector, London and South East, at Grant Thornton UK.

Links 

• ICAEW Public Sector Conference: https://www.icaew.com/learning-and-development/events/public-sector-conference 
• ICAEW Local government finance: skills for the future: https://www.icaew.com/technical/public-sector/public-sector-financial-management/local-government-finance-skills-for-the-future 
• ICAEW Public Sector Community: https://www.icaew.com/groups-and-networks/communities/public-sector 
• ICAEW vision for local audit: https://www.icaew.com/technical/public-sector/public-sector-audit-and-assurance/uk-public-sector-audit/icaew-vision-for-local-audit

Host

Philippa Lamb

Guests

• Alison Ring, Director, Public Sector and Taxation, ICAEW
• Cecilie Booth, Executive Director of Resources, Peterborough City Council
• Paul Dossett, Head of Public Sector Assurance, London and South East, Grant Thornton UK

Producer

Natalie Chisholm

Episode first published: 21 November 2024
Podcast recorded: 14 November 2024

In this special episode of Accountancy Insights, we discuss whether the Autumn Budget will provide a much-needed shot in the arm for business confidence and investment activity.

Philippa Lamb is joined by Iain Wright, Managing Director, Reputation and Influence, ICAEW; Frances Haque, Chief Economist, Santander UK; and David Williamson, Political Editor, Sunday Express.

Links

• ICAEW: Autumn Budget 2024: https://www.icaew.com/technical/economy/autumn-budget-2024 

Host

Philippa Lamb

Guests

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

Producer

Natalie Chisholm 

Episode first published: 1 November 2024
Podcast recorded: 31 October 2024

In this episode of Behind the Numbers, we discuss how the use of new technologies by criminals is putting businesses at risk.

A recent Europe-wide report found that 40% of chief internal auditors cited artificial intelligence as a top five business-critical risk. So, how can professionals protect themselves and their employers? And what can SMEs with tighter budgets do to combat this threat?

Host Philippa Lamb is joined by Ian Pay, Head of Data Analytics and Tech at ICAEW; Mark Turner, Chief Technology Officer at cyber security specialists Mitigo; and Paul Munson, EU Compliance Lead at workplace software provider Rippling and previously of the Financial Conduct Authority, Serious Fraud Office and HMRC.

Links 

• ICAEW artificial intelligence hub: https://www.icaew.com/technical/technology/artificial-intelligence
• ICAEW cyber security hub: https://www.icaew.com/technical/technology/cyber-security

Host

Philippa Lamb

Guests

• Ian Pay, Head of Data Analytics and Tech, ICAEW
• Mark Turner, Chief Technology Officer, Mitigo
• Paul Munson, EU Compliance Lead, Rippling

Producer

Natalie Chisholm

Episode first published: 18 October 2024
Podcast recorded: 11 October 2024

In this episode, we recap revisions to ISA 600 on group audit, and we discuss the likely contents of the AI Bill that is expected to be brought to Parliament before the end of the year.

Philippa Lamb is joined by Catherine Hardinge, Partner at Price Bailey; and Oliver Nelson-Smith, Tech Policy Manager at ICAEW.

Time codes

• 00:30 Group audit
• 06:18 AI Bill

Links

• ICAEW: Reminders on group audit: https://www.icaew.com/technical/audit-and-assurance/faculty-resources/audit-and-beyond/2024/articles/reminders-on-group-audit 
• ICAEW Artificial intelligence hub: https://www.icaew.com/technical/technology/artificial-intelligence 

Host

Philippa Lamb

Guests

•  Catherine Hardinge, Partner, Price Bailey
• Oliver Nelson-Smith, Tech Policy Manager, ICAEW

Producer

Natalie Chisholm 

Episode first published: 7 October 2024
Podcast recorded: 30 September 2024