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ICAEWs training film

ICAEW’s latest corporate training film offers all audit firms an innovative and cost-effective tool for partners and staff.

"Sometimes you just get too close. Assume too much. Don’t ask that extra question...and regret it." These words will resonate with many auditors, but they are particularly relevant to the professional advisers in Without Question, ICAEW’s second educational film, which can be licensed for use as a training aid (see Access all areas for cost and licensing information). In Without Question we meet the Holts: a family at war with itself. They disagree on future strategy for their development and management company, Rapston Hotels, and are troubled by the self-indulgent behaviour of some board and family members. An initial public offering (IPO) seems like a way of ending the conflict at first, but it puts Rapston and its professional advisers under strain.

The film joins Rapston, its auditors and professional advisers on the journey from private company to listed entity. It examines the conflicts that this difficult transition can raise within a family-owned company, such as founding shareholders who are struggling with their loss of control and new independent directors who are asserting their control and good governance. By highlighting everyday business challenges and professional scepticism, the film tackles matters such as issues for directors and professional advisers seeking assurance and the importance of effective communication. It also draws out themes for discussion, such as accounting estimates, confidentiality, reliance on experts and dangers of social media (see Talking points).

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