Beyond Finance

High profile frauds and corporate failures has put the spotlight on auditors. Regulators have questioned the quality of audits and the lack of competition in the audit market, leading to some of the more contentious elements of the BEIS whitepaper. What’s the right approach? Anna Draper, lead partner, BDO, Jayne Kerr, director audit strategy and public policy, PwC, Tracy Gordon, director of corporate governance, Deloitte, and Katharine Bagshaw, manager, auditing standards, ICAEW, join ICAEW’s Iain Wright to discuss. 

Trust in business and other institutions, such as Parliament and the press, has been declining for decades. How do we reverse the tide? Do the measures in the BEIS whitepaper set out a path to build back trust? In the second part of our corporate governance discussion, panellists Mala Shah-Coulon, associate partner at EY; Tom Gosling, fellow at London Business School; Andrew Ninian, director of stewardship and corporate governance, The Investment Association; John Odada, head of board and committees at BP; and Elizabeth Richards, head of corporate governance, ICAEW, talk trust with ICAEW’s Iain Wright.

The BEIS whitepaper proposes replacing the current regulator, the Financial Reporting Council, with a new, more powerful body, the Audit Reporting and Governance Authority – ARGA. ICAEW’s Iain Wright is joined by a mega-panel of experts to discuss this proposal: Mala Shah-Coulon, associate partner at EY; Tom Gosling, fellow at London Business School; Andrew Ninian, director of stewardship and corporate governance, The Investment Association; John Odada, head of board and committees at BP; and Elizabeth Richards, head of corporate governance, ICAEW. Part one of two.

The BEIS consultation on audit and corporate governance reform proposes sweeping changes that will have a profound impact on the way corporate Britain operates. Why is this necessary now? What will it mean in practical terms? And is the timing right? Cosette Reczek, a Chartered Governance Professional with over 30 years' experience and a member of the ICAEW Corporate Governance Committee, Janet Williamson, Senior Policy Officer at the TUC, and John Boulton, Director of Technical Policy at ICAEW, speak to ICAEW’s Managing Director for Reputation and Influence Iain Wright to find out more.

 Restoring trust in audit and corporate governance: explore the consultation and find out more about ICAEW’s views with this dedicated series of articles.

In 2019, the UK was the first major government to commission a review into the economics of declining biodiversity. Here Philippa Kelly speaks with Thomas Viegas, economic advisor to the Review, about the implications for the finance sector.

ICAEW’s Philippa Kelly and Lindsey Wicks and PwC’s Mike Jervis join host Tom Herbert to discuss the potential moving of tax year end, Bounce Back Loan repayment options, business restructuring and cryptocurrency.

Welcome to this new ICAEW Insights podcast, where we analyse the latest news from the world of accountancy, business and finance.

On today’s show, with news that the government is considering moving tax year end away from 5 April, what impact could this have on businesses and individuals? The first coronavirus Bounce Back Loans are now falling due for repayment: what should businesses consider when drawing up their plans for the rest of 2021 and beyond? And you can’t get away from cryptocurrency in the press, but should chartered accountants be taking a closer look?

Links to resources discussed in the show:
- OTS to look at impact of moving tax year end.
- Wyman Symposium 2021 - Changing the end of the tax year.
- Bounce Back Loans: getting ready to repay.
- COVID-19 challenges for business: Bounce Back Loan Scheme repayments.
- Broader consensus needed for G7 tax deal to achieve aims.
- Cryptocurrency: accountants look beyond the horizon.
- ICAEW’s Business Rescue series.

Host:
Tom Herbert, online editor ICAEW Insights, We Are Sunday

Guests:
- Philippa Kelly, Director, Technical Strategy Business Group, ICAEW.
- Lindsey Wicks, Technical Editor, ICAEW Tax Faculty.
- Mike Jervis, Restructuring and Insolvency Partner, PwC.

Producer:
Natalie Chisholm

Episode first published: 24 June 2021
Podcast recorded: 21 June 2021