Audit reform: this definition of PIE is hard to swallow
The BEIS whitepaper is right to look at what classifies as a public interest entity. But its suggestions could stretch the capacity of the audit market to breaking point.
FRC chief: accountability and responsibility must be assigned to the right people
Ahead of an appearance at ICAEW’s Virtually Live conference, Sir Jon Thompson, CEO of the Financial Reporting Council, answers questions on the UK’s proposals for governance and audit reform.
Save the Children UK: transformed ‘beyond recognition’
Save the Children UK has transformed its reputation over the past three years. The charity’s senior accountability manager, Laura-Louise Fairley, explains the changes and improvements they put in place to turn around its negative image.
5 ways that the crisis in trust in data will change the role of chartered accountants
In the future, chartered accountants will have an increasingly vital role to play in ensuring that societies across the world have access to reliable, fact-based information.
Accountancy, transparency and media boot camps
In parts of Africa, the accountancy profession is already taking the lead on improving transparency and the trustworthiness of information.
Trust is baked into the Charity Commission’s purpose
Paul Latham, Director of Communications and Policy at the Charity Commission, tells ICAEW Insights that increasing trust in the sector is a key driver for the organisation that regulates around 170,000 charities.
Trust in the profession, individual members and transparency
David Matthews, outgoing ICAEW President, says the need for trustworthy information is only increasing.
Will government-owned companies be caught up by audit reform?
Reforms to restore trust in audit and corporate governance are primarily aimed at the private sector, but there is a potential that some public sector organisations might come within the scope of the proposals.
Restoring trust in local authorities
Local authorities need to invest in effective communications to retain the trust and confidence of the public – or face the consequences.
HMRC’s role in building trust in the profession
With trust in audit and corporate governance at the top of the profession’s agenda, ICAEW asked two HMRC accountants – one advisory and the other forensic – about their roles and the trust debate.
Trust in business prevails, but it is not clear-cut
The Global accountancy trust survey, conducted by Edelman DXI has long been the go-to source of data about trust. The 2021 Trust Barometer puts trust in business out in front, above government, media and NGOs – but only just.
Trusting staff and trust from staff
Leadership and collaboration expert Heidi Gardner, a distinguished Fellow at Harvard Law School and former assistant professor at Harvard Business School, shares why trust is crucial within the workplace.
Trust in charities: working towards a global reporting standard
IFR4NPO is an initiative to develop global financial reporting guidance for non-profit organisations. It is spearheaded by Humentum and CIPFA to heighten transparency and enhance trust.
Sarbanes-Oxley: like learning a new language
The Internal Controls over Financial Reporting assessment and attestation requirements of Sarbanes-Oxley are relevant for any company with securities listed in the US, including many large UK companies.
Earning the trust of your customers: Montezuma’s
Finance director of quirky UK premium chocolate brand Montezuma’s, Carl Moore, speaks about how gaining the trust of your customers is important and what they value most.
Potential PIE extension casts the regulatory net wide
Radical reforms proposed by the UK Government could see thousands more companies brought under new, more stringent, audit and corporate reporting rules previously aimed at the UK’s largest businesses.
Protecting human rights: the role of good governance
When it comes to business, the issue of human rights is no longer someone else’s problem. That’s certainly the view of Sara Brennan, Positive Business Director at Pentland Brands.
Proposed strengthened corporate governance regime
This chart reflects ARGA’s significant new powers and the expanded director and auditor duties being proposed in the BEIS White Paper.
5 key areas of the BEIS White Paper
This chart shows at a glance the main areas the White Paper addresses, from establishing ARGA to improving the reliability of audits.
Trust in leadership: be as authentic as possible
During periods of uncertainty, when teams look to their leadership for direction, authenticity is key.
Rebuilding trust in charities
The reputation of the charity sector is at risk: in order to restore lost faith and regain the trust of individuals and communities, the sector will need to communicate and engage with its supporters in new and innovative ways.
Managing a hybrid workforce: is out of office out of mind?
With working patterns likely to be permanently affected by the pandemic, many employers are facing a change in the way people value work and their expectations of how they will be managed.
Horizon case highlights collective risks in IT overreliance
As the recent Post Office Horizon saga has demonstrated, there is a need to strike a considered balance between blind faith in technology and a lack of faith in IT.
A culture assessment can only be useful
Corporate culture is often forgotten in the rush to determine internal rules. If we are to understand the big questions around trust in business, shouldn’t culture metrics be in place?
Finding fraud is at the heart of audit reform
Chartered accountants have an opportunity to respond to the package of reforms relating to fraud, as recommended by the Brydon Review. What do you think of the government’s proposals?
Can resilience statements restore trust in viability reporting?
Existing rules around viability reporting are not achieving what they need to. The government has proposed a new annual resilience statement by public interest entities to fix the problem.
It’s time for chartered accountants to save the world
A sustainable future requires businesses to maximise more than profits and governments to look beyond rising GDP. Chartered accountants must understand their unique role in making this happen, argues Peter Bakker, CEO of the World Business Council for Sustainable Development.
Is the UK ready for Sarbanes-Oxley?
One of the central planks of the Sarbanes-Oxley regime in the US is that directors will go to prison if they fall short. If a version is implemented in the UK and there is no such penalty in scope, how will the regime work?
Shaping the public’s trust in data and information
Ed Humpherson holds the UK government to account for the data that it publishes. He argues that chartered accountants have a key role to play in helping organisations and the public navigate the new information landscape.
Trust in data has helped us raise $45bn to tackle global epidemics
Tracy Staines, Inspector General at The Global Fund, has built on her core accountancy skills to ensure huge amounts of money are spent appropriately where they’re needed most.
Regulation and conduct through difficult times
The recently published ICAEW Regulatory Board (IRB) Annual Report 2020 highlights the hard work and efforts to maintain minimal disruption to ICAEW’s regulatory and disciplinary work, despite the most unusual of years. We talk to Michael Caplan QC, Chair of the IRB about its latest annual report and the role of the IRB.
How the profession won back trust in the Netherlands
The Netherlands accountancy and audit profession faced a public backlash after high profile failures. Through collaboration and iterative improvements, it has steadily restored trust.
Audit quality: how to raise the bar
What steps can and should audit committees, audit regulators, investors and auditors in the UK take now to improve audit quality?