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Financing Change

Advancing thinking and debate

"Financing
Financing Change, the thought leadership programme of ICAEW's Corporate Finance Faculty, aims to advance the economic and social contribution of corporate finance activity by promoting better understanding of the value it can create and its role in improving efficiency and practice in capital markets.

What’s it all about?

Financing Change, the thought leadership programme of ICAEW's Corporate Finance Faculty, aims to advance the economic and social contribution of corporate finance activity by promoting better understanding of the value it can create and its role in improving efficiency and practice in capital markets.

It promotes corporate finance activity which serves the public interest by encouraging all those involved in effecting deals to:

  • have a greater regard to the context and infrastructure in which corporate finance  transactions take place;
  • raise their own performance, expertise and ethical standards;
  • provide affected parties with clear, transparent and objective information; and
  • support necessary and proportionate regulation.
What we’re thinking about

Financing Change is interested in three essential pre-conditions for successful and sustainable corporate finance activity:

  • Imagination - the creativity that generates business ideas and funding to bring them to fruition
  • Infrastructure - the legal, regulatory and tax frameworks and the behaviours that support the funding of transactions
  • Information - what is needed to support decisionmaking and also the assessment of a deal’s wider implications

Guidance on Financial Position and Prospects Procedures

The consultation period has ended and we are considering how the submissions we have received impact upon the draft guidance issued in March 2012.

For more information about Financing Change or to get involved, email financingchange@icaew.com or contact Katerina Joannou on +44 (0)20 7920 8806.

What we’ve done

Publications

The Financing Change initiative seeks inter alia, to explain corporate finance dealmaking. The publication Private Equity Demystified provides an objective explanation of how private equity operates, and a summary of current academic findings on the impact of private equity.

Public discussions and debate

Financing Change draws on ICAEW's power to convene to bring together protagonists with different points of view.  To date public discussions and debates have been held around the Breedon review, the Takeover Code etc.


What's new? 

TECH 14/14CFF Guidance on financial position and prospects procedures

TECH 14/14CFF addresses a regulatory requirement of companies seeking to list on a UK market. The guidance is aimed at directors and reporting accountants and updates TECH 01/13CFF. TECH 14/14CFF should be implemented for listing processes beginning on or after 1 December, 2014.

Business Finance Guide

The Business Finance Guide – a journey from start-up to growth is a major initiative supported by 19 eminent professional, representative and membership organisations. The publication has been co-ordinated by the Corporate Finance Faculty and the new British Business Bank. This is a unique guide that sets out the main things to consider when raising funds for growth and outlines sources of equity and debt finance available to businesses – ranging from start-ups to SMEs and growing mid-sized companies. The guide also includes several tools and ideas to help businesses consider their options, make decisions and plan how they will finance expansion.

Cyber-Security in Corporate Finance

Our Corporate Finance Faculty has been working with the Cabinet Office to initiate a Taskforce to tackle the cyber-security risks in corporate finance. This publication helps to raise awareness of the specific risks that businesses face and shows how they can – with expert help – begin to tackle them when they are raising finance, undertaking M&A and restructuring.

Pro Forma Financial Information Status Report

In May 2013, ICAEW published Pro Forma Financial Information, Status Report on updating guidance for directors, in which it announced its intention to update the guidance and set out the areas for review.