Beyond Finance

Celsius network claimed to be a safe place to trade digital currencies and assets. In reality, it was using customers’ money for its own ends. In the first Behind the Numbers of the New Year, we explore the collapse of digital currency platform Celsius network, the scandal that followed, and its lasting impact on crypto asset regulation, particularly custody.  

Since that scandal, international regulators including the Financial Conduct Authority have been looking at custody rules and wider regulation around digital assets. But are they on the right track?

Transcript

Read the full transcript of this episode here - https://www.icaew.com/insights/podcast/behind-the-numbers/how-the-celsius-scandal-is-reshaping-crypto-regulation/transcript

Links

Founder of Celsius sentenced to 12 years for fraud - https://www.justice.gov/usao-sdny/pr/founder-celsius-sentenced-12-years-fraud-and-market-manipulation

Celsius investigation: all the red flags - https://fortune.com/2023/02/07/celsius-network-investigation-red-flags/

FCA Crypto Roadmap - https://www.fca.org.uk/publication/documents/crypto-roadmap.pdf

FCA: Stablecoin issuance and Cryptoasset Custody proposals - https://www.fca.org.uk/publications/consultation-papers/cp25-14-stablecoin-issuance-cryptoasset-custody

ICAEW: The Future of crypto regulation: key considerations - https://www.icaew.com/insights/viewpoints-on-the-news/2025/nov-2025/the-future-of-crypto-regulation-key-considerations

Host

Philippa Lamb

Guests

• Polly Tsang, Senior Financial Services Regulatory Manager, ICAEW
• Jessica Caws, Co-Head of Financial Services at Birketts LLP
• Shermeen Kazmi, Partner, Grant Thornton

Producer

Natalie Chisholm

Episode first published: 12 January 2026

Podcast recorded: 16 December 2025

In the first episode of 2026, our usual team of soothsayers David Williamson, Frances Haque and Iain Wright review the events of the past 12 months, and look ahead to what we might expect in the coming year.

Will 2026 be more of the same, or will there be some reasons to be cheerful? Could the AI bubble burst, or will it just deflate? And did our panel get anything right last year?

Transcript

Read the full transcript of this episode - https://www.icaew.com/insights/podcast/behind-the-numbers/a-world-cup-bump-an-ai-slump-2026-predictions/transcript

Links

ICAEW: The 2025 predictions episode - https://www.icaew.com/insights/podcast/accountancy-insights/trump-tariffs-and-eu-turmoil-2025-predictions

ICAEW: UK Business Confidence Monitor - https://www.icaew.com/technical/economy/business-confidence-monitor

‘The AI bubble will burst’ - https://www.bbc.co.uk/sounds/play/p0m7h23s

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: 31 December 2025
Podcast recorded: 15 December 2025

With Christmas round the corner, we’ve put together a special best of episode of Behind the Numbers, featuring some of the most memorable conversations from throughout the year. 

From discussions of Trump and tariffs on our 100th episode to one of our favourite conversations on the history of money, it’s an excellent way to remind yourself of what went on this year – or catch up on what you’ve missed. 

Links:

ICAEW: Rebuilding trust in volatile times - https://www.icaew.com/insights/podcast/behind-the-numbers/rebuilding-trust-in-volatile-times

ICAEW: Appraising Starmer’s Labour - https://www.icaew.com/insights/podcast/behind-the-numbers/appraising-starmers-labour

ICAEW: How to bounce back from a cyber attack - https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-bounce-back-from-a-cyber-attack

ICAEW: Dealing with uncertainty and mental health - https://www.icaew.com/insights/podcast/behind-the-numbers/dealing-with-uncertainty-and-mental-health

ICAEW: Can history teach us anything about digital money? - https://www.icaew.com/insights/podcast/behind-the-numbers/can-history-teach-us-anything-about-digital-money

Host

Philippa Lamb

Clips featuring

• Iain Wright, Chief Policy & Communications Officer, ICAEW
• David Williamson, Chief Political Commentator, The Express 
• Frances Haque, Santander Chief Economist 
• Neil Hare-Brown, Founder, STORM Guidance
• Michael Hoare, partner, Kekst CNC
• Paul Guess, Case Management Officer at CABA
• Riaz Shah OBE, Professor of Practice, Hult International Business School
• Tony Moore, Lecturer in Finance, Henley Business School
• Polly Tsang, Senior Financial Services Regulatory Manager, ICAEW

Producer

• Natalie Chisholm

Episode first published: 18 December

Podcast recorded: 7 November 2025

This episode is all about the Budget. What was in it? What are the implications? Was there anything positive to glean from it? 

Stepping in for Philippa Lamb on this episode, Guy Ruddle speaks to the usual economic dream team of Santander Chief Economist Frances Haque, David Williamson, who joins us from Portcullis House, and Iain Wright, ICAEW’s Chief Policy and Communications Officer. 

They share their views on the early publication of the OBR’s projections, the constant leaking ahead of the Budget, the economic implications of the measures included within it, and who it was actually for. 

Time codes

01’53”: The OBR’s leaked report

05’48”: The content of the Budget and its implications

10’07”: The lack of growth measures

Links

• ICAEW: Budget 25: Do the tax changes meet the tenets? - https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenets

Host

• Guy Ruddle

Guests

• Frances Haque, Chief Economist, Santander
• David Williamson, Chief Political Commentator, The Express
• Iain Wright, Chief Policy and Communications Officer, ICAEW

Producer

• Natalie Chisholm 

Episode first published: 1 December 2025

Podcast recorded: 27 November 2025

This episode focuses on the integration of AI in audit processes, emphasising the need for practical guidance from the Financial Reporting Council (FRC) to build industry confidence, especially with smaller firms. The conversation highlighted the importance of human oversight, the role of third-party technology providers, the challenges of explainability and data security, and the need for clear communication with clients.

Philippa Lamb is joined by Ramana McConnon, Head of Assurance Technology at the FRC, Jon Morris, Director of Audit and Professional Standards for Grant Thornton, and Martin Brown, Gen AI lead in Deloitte’s Audit technical team. 

Time codes

• 04’50”: Discovering the AI use cases and benefits of the new technology for smaller firms
• 13’49”: Understanding explainability and the need for human oversight with AI solutions
• 18’25”: Are off-the-shelf solutions enough and will firms need to make big investments?

Links

• ICAEW: FRC publishes landmark guidance on the uses of AI in audit - https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/frc-publishes-landmark-guidance-on-the-uses-of-ai-for-audit
• FRC guidance on audit and AI - https://media.frc.org.uk/documents/AI_in_Audit.pdf
• ICAEW: AI in audit: opportunities and challenges - https://www.icaew.com/technical/audit-and-assurance/faculty-resources/webcasts/ai-in-audit

Host

Philippa Lamb

Guests

• Ramana McConnon, Head of Assurance Technology at the FRC
• Jon Morris, Director of Audit and Professional Standards for Grant Thornton
• Martin Brown, Gen AI lead in Deloitte’s Audit technical team

Producer

Natalie Chisholm

Episode first published: 11 November 2025

Podcast recorded: 7 November 2025

In this episode, we’re exploring just how useful Large Language Models (LLMs) are when it comes to spreadsheets; what needs to happen by 18 November when it comes to Companies House ID verification; and how the OBR comes to its conclusions.

Host Philippa Lamb is joined by Simon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan University, to talk about his research into LLMs' effectiveness when it comes to spotting errors in spreadsheets, with some clear winners and losers from the process.

Next, Mike Miller, ICAEW’s Economic Crime Manager, gives an update on Companies House ID verification and what Directors and accounting firms have to do to prepare. Finally, Martin Wheatcroft, Advisor on public finances for ICAEW, explains the role and methodology of the OBR.

Time codes:

Spreadsheets and AI – 01’06”

Companies House ID Verification – 13’28”

How the OBR works – 23’14”

Transcript

You can read a full transcript of the episode here: https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/the-best-and-worst-genais-for-spreadsheets

Links:

ICAEW: The best and worst gen AIs for spreadsheets - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/the-best-and-worst-genais-for-spreadsheets

Simon Thorne’s study on LLMs and spreadsheets - https://arxiv.org/abs/2506.17330

ICAEW: Authorised corporate service providers (ACSP) and ID verification - https://www.icaew.com/regulation/aml-supervision/aml-resources/acsp-and-id-verification

ICAEW: ID verification is coming – everything directors need to know - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/co-house-id-changes-what-directors-need-to-know

ICAEW: ID verification is coming – everything accounting firms need to know - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/co-house-id-changes-what-accountants-need-to-know

ICAEW: Companies House: who needs to be an ACSP and when should they register? - https://www.icaew.com/insights/viewpoints-on-the-news/2025/aug-2025/companies-house-who-needs-to-be-an-acsp-and-when-should-they-register

UK productivity downgraded - https://www.bbc.co.uk/news/articles/c0rpve82jxvo

Rachel Reeves v the OBR: chancellor aims to loosen the watchdog’s grip - https://www.theguardian.com/business/2025/oct/11/rachel-reeves-v-the-obr-chancellor-aims-to-loosen-the-watchdogs-grip

Labour fury at OBR is understandable but misplaced - https://www.ft.com/content/f1b53cb4-ba83-4b0a-a8f3-65ffab93b299

New Economics Foundation – A democratic fiscal framework - https://neweconomics.org/2025/08/a-democratic-fiscal-framework

Host

Philippa Lamb

Guests

• Simon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan University
• Mike Miller, Economic Crime Manager, ICAEW
• Martin Wheatcroft, Advisor on public finances, ICAEW

Producer

Natalie Chisholm

Episode first published: 28 October 2025

Podcast recorded: 22nd October 2025

All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.

In this episode, we discuss how prepared organisations really are for cyber attacks, what to do if and when your business is affected, and how to manage the communications challenges. We have a great case study from a company that suffered a cyber attack, with plenty of lessons about how to mitigate the impact on customers and return quickly to business as usual.

Philippa Lamb is joined by Peter Davenport, Crisis Communications Specialist, Definition Group; Michael Hoare, Director, Kekst CNC;  Neil Hare-Brown, Founder, Storm Guidance; and Nadeem Raza, CEO, Microlise.

Time Codes

• 11:01: Nadeem Raza from Microlise shares his cyber attack case study
• 15:07: A deeper dive into how M&S and Jaguar Land Rover are managing the ongoing challenges from cyber attacks
• 27:25: The speakers share their top tips for cyber attack preparedness

Transcript: 

You can read the full transcript of this episode here: https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-bounce-back-from-a-cyber-attack/transcript

Links

ICAEW: Cyber Security awareness -https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-month

ICAEW: Four cyber security lessons from M&S and other breaches - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/four-cyber-security-lessons-from-mands-and-other-breaches

Host

Philippa Lamb

Guests

• Peter Davenport, Crisis Communications Specialist, Definition Group
• Michael Hoare, Director, Kekst CNC
• Neil Hare-Brown, Founder, Storm Guidance
• Nadeem Raza, CEO, Microlise

Producer

Natalie Chisholm

Episode first published: 14 October 2025

Podcast recorded: 7 October 2025

We’re all navigating uncertainty right now. How can accountants manage it professionally and personally? Riaz Shah OBE, former EY Partner and Professor of Practice at Hult International Business School, breaks down the biggest factors affecting the profession at the moment, and how it might shape the role and future of accountants. 

Then Paul Guess, Case Management Officer for accountants’ support charity CABA, talks about the mental toll that the current environment is taking on professionals, and the kind of support that they can expect to receive.

Links:

• https://www.icaew.com/learning-and-development/events/icaew-annual-conference
• http://caba.org.uk/
• https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/global-trust-in-chartered-accountants-rises-in-ai-world
• https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/ai-should-it-replace-junior-roles

 Host

Philippa Lamb

Guests

Riaz Shah OBE, Professor of Practice, Hult International Business School

Paul Guess, Case Management Officer, CABA

Producer

Natalie Chisholm

Episode first published: 8 October 2025

Podcast recorded: 25 September 2025

Whistleblowing is a vital process but often fraught with far more risk and emotional upheaval than it should be. In Western Europe, 43% of all occupational fraud cases come to light thanks to whistleblowers. And it’s not just fraud: cases from poor health-and-safety practices to bad team management have all been righted thanks to people speaking out.

Although many whistleblowing cases do result in bad practice being stopped and workplaces improved, some whistleblowers have been victimised or forced out of their jobs. In the UK, the new Failure to Prevent Fraud offence will mandate large employers to put clear whistleblowing policies in place, and both the Serious Fraud Office and HMRC are looking at schemes to incentivise whistleblowing.

Andrew Pepper-Parsons, Director of Policy and Communications at whistleblowing charity Protect, and Brendan Weekes, Associate Director at accountancy firm, S&W, join our host Philippa Lamb to discuss the topic, why a significant minority of whistleblowers don’t get the requisite protection and what the forthcoming regulation and potential SFO and HMRC schemes will mean for UK business. 

They also both discuss some best practice case studies from organisations that are doing a good job of encouraging people to speak up when they see something that’s not right. This includes the Wellcome Trust’s excellently named scheme “The Only Way is Ethics”.

Links

• https://protect-advice.org.uk/checklist-for-whistleblowers/
• https://whistleblowersblog.org/global-whistleblowers/uks-sfo-director-continues-to-push-for-whistleblower-awards/
• https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/the-four-elements-of-effective-whistleblowing-culture
• https://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/why-whistleblowing-is-a-requirement-not-a-choice-for-accountants

Host

Philippa Lamb

Guests

●       Andrew Pepper-Parsons, Director of Policy and Communications, Protect

●       Brendan Weekes, Associate Director, S&W

 Producer

Natalie Chisholm

Episode first published: 25 September 2025

Podcast recorded: 12 September 2025

In this special episode of Accountancy Insights, we bring you a timely interview of Kemi Badenoch by ICAEW’s Chief Executive Alan Vallance who sat down with her after a speech she gave at Chartered Accountants’ Hall.

Badenoch talked about tackling perennial long-term problems like productivity and smarter regulation. She spoke with feeling about her frustration when, as Business Secretary in the previous Conservative government, she would meet with business leaders who showed her how debilitating regulation could be for business if the consequences of new laws are not thought through properly.

Drawing on her tech background, she also disagreed with her former colleague Jeremy Hunt that AI would replace accountants, saying “I don’t think accountants have anything to worry about.” 

ICAEW’s Chief Policy and Communications Officer Iain Wright then joins our host Philippa Lamb to discuss Badenoch’s proposals and how it’s further evidence of ICAEW’s unique position as a leading voice for business.

Links 

ICAEW: More on Kemi Badenoch’s speech - https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/kemi-badenoch-speaks-at-icaew-we-need-to-take-risks

ICAEW Policy: How the government can deliver growth - https://www.icaew.com/about-icaew/regulation-and-the-public-interest/policy/how-the-government-can-deliver-growth 

Host

Philippa Lamb

Guests

• Iain Wright, Chief Policy and Communications Officer, ICAEW

Producer

Natalie Chisholm

Episode first published: 18 September 2025

Podcast recorded: 12 September 2025