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Viewpoints on the news during January 2020

Opinions and news analysis, covering the worlds of business and accountancy.

DAC 6 tax disclosures: final regulations published

31 January 2020: the final regulations for applying the EU directive commonly known as DAC 6 have been published. While HMRC amendments have been welcomed, there are still concerns about the level of reporting obligations and the lack of official guidance.

Climate change: from slow burner to raging fire

31 January 2020: environmental risks occupy all five of the top spots for likelihood in the latest ‘Global Risks Report’ from the World Economic Forum. “Climate change is striking harder and more rapidly than many expected,” the report warns.

Brexit: a new chapter for the UK and the EU

31 January 2020: with the UK formally leaving the EU today, the ICAEW has called for a free trade agreement with the EU that maximises market access, safeguards the accountancy profession and avoids unnecessary bureaucracy.

Honourable mentions for ICAEW members

29 January 2020: a former Lord Mayor of London, a small business guru and a 92-year-old fundraiser for the Royal National Lifeboat Institution (RNLI) are among 11 ICAEW members who received awards in the New Year’s Honours.

The other pay gap: the gender pension gap

28 January 2020: the gender pay gap is increasingly well explored by companies, and reporting is becoming more sophisticated and clearer. However, improvements to the pay gap can be quickly undermined by another gap – the gender pension gap. Philippa Kelly, Head of Financial Services at ICAEW, considers new research and identifies key factors causing the gender pension gap and why things need to change.

ICAEW podcast is shortlisted for the PRCA City and Financial 2020 Awards

28 January 2020: More Than a Number has been nominated for the Best Strategic Communications or Corporate Brand Campaign Award in the PRCA City and Financial 2020 Awards. Judged by some of the biggest names from the worlds of City leadership, communications and journalism, the City and Financial Awards recognises leading-edge PR and communications work.

Apply to have your say on charity reporting by 31 January

27 January 2020: the Charities SORP-making body is inviting applications from individuals or organisations interested in or knowledgeable about charity financial reporting to participate in the next Charities SORP-making process.

Work with insurers? The PRA wants these improvements

24 January 2020: the PRA has set out the practical improvements the regulator wants to see from the general insurance industry in its letter to chief executives of general insurance firms regulated by the PRA. Some topics are more familiar than others, says ICAEW’s Financial Services Faculty; but, interestingly for a prudential regulator, there is a firm emphasis on culture.

Flybe fallout: clear frameworks ‘vital’ if more intervention is on the cards

23 January 2020: the idea of a government stepping in to provide assistance to cash-strapped companies with significant regional importance has been much debated following the recent Flybe intervention. While such a policy shift should be welcomed, a clear framework and strong legislation is crucial to any new strategy’s success, explains ICAEW Director for Business and Industrial Strategy Iain Wright.

Top accountancy influencers roar

22 January 2020: ICAEW has released a list of the top 40 online accountancy influencers – individuals tweeting about and discussing accountancy related topics.

Are challenger banks winning the war for customers?

22 January 2020: it’s the battle of the banks – big players vs all-digital challenger banks. We look at how neobanks like Monzo and Starling are tackling the big players and question who’s got what it takes to win the war for new customers.

Beware of risk in the growing car finance market

22 January 2020: members working for banks and lenders in the car finance market need to be aware of its changing face and associated risks. These include the likely growth of consumer redress should there be a financial downturn.

Will Brexit result in more fraud?

22 January 2020: once the UK finally leaves the EU, businesses of all kinds will experience economic costs and opportunities. Will one of the costs be an increased risk of fraud? We asked two experts for their views.

Five reasons ICAEW attends the World Economic Forum

21 January 2020: as bookings for private jet charter soar in the build-up to Davos, many will ask: “What was the hype all about?” Here are five reasons our CEO, Michael Izza, attends the World Economic Forum’s (WEF’s) Annual Meeting each year (and not on a private jet).

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