Climate risk in financial services
Financial institutions must embed climate risks in line with investor, public and regulatory expectations.
Banking
Practical guidance, commentary and support on the banking sector for financial services professionals.
Featured items
In this section
ESG: the risks and opportunities
During September 2021 and October 2021, our event series enabled a better understanding of environmental, social and governance (ESG) risk.
Banking Focus
Is KYC the key to anti-money laundering?
With London’s ‘laundromat’ moniker for dirty money back in the spotlight since the Russian invasion of Ukraine, evolving rules around KYC and AML may prove timely, Daniel Lanyon writes.
Update on the Government's Economic Crime Plan
David Gomez, ICAEW Senior Lead, Ethics shares an update on the UK’s Economic Crime Plan.
Managing mortality rates after Covid
Managing mortality rates after Covid
Financial crime: catching rogues without killing competition
The Financial Services Faculty asks where the line is between good controls on fraud and relieving regulations to stimulate competition. By Laura Miller.
How long will this cost-of-living crisis last?
We are now at the point of the most significant phase in the cost-of-living crisis so far, though with no guarantee that it will not be repeated in the autumn. At least then, in the UK, there should not be new tax increases to add to the pain.
How big a shock is inflation to the financial system?
This has been an economic rollercoaster. Barely had we got used to the idea of the biggest recession since 1921 (and for a while the deepest since the Great Frost of 1709), which was the story of 2020, we have an inflation problem of the kind not seen for decades, which is the story of 2022.
Regaining trust in financial services
How far does Financial Services have to go to regain trust from consumers, asks Adam Leach.
FCA’s Consumer Duty: proposals take shape but are still a work in progress
An analysis of ICAEW’s response to the proposals.
IFRS 9
ICAEW Annual Report 2021
View the full annual report and financial statements for 2021.
IFRS 9: the dog that barked too much?
When IAS 39 was replaced by IFRS 9 on 1 January 2018, it was perhaps little lamented, writes Steven Hall, Partner, Financial Services Risk Consulting, KPMG and Nicholas Mead, Director, KPMG. In a financial crisis that had manifold causes, some laid at least part of the blame for the 2008 meltdown on the ‘incurred loss’ provision model in IAS39 – inadequate, too little too late, or simply the dog that didn’t bark.
IFRS 9 Financial instruments using models in impairment calculations avoiding the blac
View the accompanying slides to IFRS 9 Financial instruments using models in impairment calculations webinar, recorded on 29 October 2018.
COVID-19 and Stress Testing for Banks and Building Societies
View the accompanying slides to COVID-19 and Stress Testing for Banks and Building Societies webinar, recorded on 30 April 2020.
10 accounting and disclosures questions finance should be asking about LIBOR transition
ICAEW's Financial Services Faculty highlights 10 questions to inform the critical areas of accounting and financial disclosure that are being impacted by LIBOR transition.
Unlocking the secrets of IFRS 9
Grant Thornton Head of Risk and Finance Assurance, Retail Banking Shuvo Banerjee looks at how the new accounting standard has impacted bank risk models.
Staying afloat during IBOR reform
Mark Spencer, Financial Services’ Accounting Advisory team lead at BDO, sets sail on the amendments issued by the International Accounting Standards Board (IASB) and Financial Reporting Council (FRC).
IFRS 9 Financial Instruments - hedge accounting
This factsheet outlines the hedge accounting requirements of IFRS 9 Financial Instruments, comparing them with those of IAS 39. It also contains practical tips to help with implementation.
Regulation
Is KYC the key to anti-money laundering?
With London’s ‘laundromat’ moniker for dirty money back in the spotlight since the Russian invasion of Ukraine, evolving rules around KYC and AML may prove timely, Daniel Lanyon writes.
Financial crime: catching rogues without killing competition
The Financial Services Faculty asks where the line is between good controls on fraud and relieving regulations to stimulate competition. By Laura Miller.
How best to regulate the bank cloud boom?
The adoption of the cloud by banks is hard to regulate given the rapidly growing supply of services by third parties. But financial regulators are increasingly turning their sights on the megatrend.
Libor transition - what you need to know
What is LIBOR and what you need to know
Find out what is IBOR reform, why LIBOR will be phased out and why it matters as well as the plan for the UK, challenges and risks.
The transition away from Sterling LIBOR
A simple introductory guide for businesses to the global transition away from (Sterling £) LIBOR provided by ACT, CBI, ICAEW and UK Finance.
Transitioning from LIBOR
The end of LIBOR will mean some big changes for businesses. The end date of December 2021 may seem a long way off, but companies need to start preparing now.
Corporate governance
Women mean business – but can they access investment?
Female-led companies make up 16.8% of all UK companies and attract a fraction of the investment achieved by their male-led counterparts. What are the obstacles and how can they be broken down?
8 ways the 5th Anti Money Laundering Directive will affect financial services firms
The European Commission are now applying more focus on anti-money laundering risks and have said that they may open infringement proceedings against countries lagging behind on the new anti-money-laundering rules.
TSB IT fiasco a corporate governance failure
Laura Miller discovers the corporate governance failings that led to the TSB IT crash, which left customers locked out of online accounts and drew regulatory attention.
Counting on ethics when it comes to data management
Paula Smith examines how a strong ethical approach can help financial services firms cope with the changing world of data management
Pre-recorded webinars
ESG risk: a webinar series
A webinar series exploring the challenges of understanding ESG risk, as well as what can be gained by doing so.
LIBOR Transition: The Regulators' View
Watch and listen to the recording of this webinar. FCA and Bank of England, in conjunction with ICAEW Financial Services, give their perspective on LIBOR Transition.
Today's audit applications created through Open Banking and its future outlook
In this webinar speakers David Heath (CEO, Circit) and David Beardmore (Head of Ecosystem, Open Banking) provide an introduction to audit and Circit, discuss the regulation and future of Open Banking, and provide use cases.
Helpsheets
COVID-19 challenges for business: Bounce Back Loan Scheme (BBLS) repayments
Helpsheet for small businesses starting their Bounce Back Loan Scheme (BBLS) repayments.
Inspiring confidence
ICAEW's Inspiring Confidence campaign explores the issues affecting consumers and financial services providers in a rapidly changing world.
Banks, insurers and investment managers play vitally important roles within society, to encourage economic development and allow individuals and businesses to save, invest, insure and make payments. We must have confidence in them. Responsible providers, responsible consumers, better regulation and better information underpin this confidence.
Join Banking membership
Banking is fast moving and ever changing. Our unique perspective and ability to convene with stakeholders right across the financial services landscape, means we can provide you with industry insights, expert opinion, analysis and independent resources to put you ahead of the curve.