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Latest news for December 2019

All the latest news about ICAEW and the accountancy profession.

Have you got what it takes to become a partner?

20-12-2019

It’s often the career goal of young accountants, but becoming a partner isn’t for everyone. Do you think you’d make the cut? And do you really want the job anyway? We talk to the accountants who’ve been through it to find out.

Five social media mistakes your business should avoid

20-12-2019

Social media can be a phenomenal marketing tool for your practice – but get it wrong and it could be a waste of time; or worse. Accountant and social media adviser Mark Lee highlights five common blunders your business should be avoiding, and what to do instead.

Simren’s journey: school leaver to senior associate

20-12-2019

Simren Gill, 22, is a senior associate at PwC in Birmingham who joined the firm on its school-leaver scheme. She tells us what it was like taking a new route into the profession as a Higher Apprentice. Gill also vlogged about her experiences of taking the ACA as one of ICAEW’s Vlog Stars.

International ACA students impress in latest results

18-04-2019

Students achieved another set of impressive results in their March 2019 ACA Professional Level exams and Level 4 Accounting Technician apprenticeship end-point assessments with three of the Professional Level prize winners coming from Malaysia and Singapore.

ICAEW recognises talented students

16-04-2019

Tuesday 16 April 2019, The top performers in our globally recognised ICAEW CFAB and ACA qualifications and the Level 4 Accounting Technician Apprenticeship will tonight be celebrated at an awards ceremony at Chartered Accountants’ Hall in London (16 April).

The GDPR's transparency obligations are difficult but not impossible

11-04-2019

Thursday 11 April 2019, The EU GDPR is one the most significant changes in privacy in the past two decades, and companies need to fully understand its implications according to ICAEW. In its new guide, Data Protection and Transparency, ICAEW explains the transparency principle of the GDPR and gives essential guidance on how to comply with its requirements.

Companies need to recognize the benefits of whistleblowing

09-04-2019

Whistleblowing is central to the plurality of checks and balances which allow businesses to thrive. In its report, How whistleblowing helps companies, ICAEW’s Corporate Governance Faculty elaborates on the importance of effective whistleblowing and provides essential guidance for boards on how to create environments that encourage it.

Unethical big data use could undermine social purpose of financial services

09-04-2019

Tuesday 9 April 2019, We urgently need an ethical framework for the use of big data or we risk undermining the social purpose of financial services, according to ICAEW. The accountancy and finance body is calling for businesses, consumers and regulators to work together to protect vulnerable people from being exploited by the growing use of data and artificial intelligence.

Financial reporting system a “bewildering mess”, says ICAEW

03-04-2019

Wednesday 03 April 2019, The legislation and regulation governing the preparation of financial statements are a “bewildering mess”, characterised by inconsistency, duplication and omission – and it is essential all stakeholders help combat this, according to ICAEW.

Late self-assessment fines will soon mount up warns ICAEW

03-04-2019

Wednesday 3 April 2019, Taxpayers who missed the January deadline to submit their self assessment tax returns for 2017/18 have until the end of this month 30 April 2019 to file their forms to HMRC or face additional daily fines. To avoid the fines mounting up, ICAEW is urging tax payers who still have not submitted their self assessment for 2017/18 to do so immediately.

Construction sector procurement culture is unsustainable

27-03-2019

Wednesday 27 March 2019, Lowest-price tendering is forcing contractors to price their work at unrealistically low levels, which is likely to have serious consequences for the construction industry, according to ICAEW.

ICAEW downgrades economic forecast for 2019

21-03-2019

Thursday 14 March 2019, Weak growth in the economy at the end of last year has provided a catalyst to frail growth in GDP in 2019, according to the latest ICAEW Economic Forecast. With momentum in the global economy slowing and Brexit in play domestically, the forecast has been downgraded to 1.3% from the 1.6% expected three months ago and in line with the OBR reports this week.

Making Tax Digital not to be extended in 2020

13-03-2019

13 March 2019, The Spring Statement contained good news for business as the Government confirmed that Making Tax Digital (MTD) will not be mandated for any other taxes or businesses in 2020. From 1 April 2019, VAT registered businesses with turnover over the VAT threshold (£85,000) will be required to maintain digital accounting records and to file their VAT returns directly from MTD compliant software.

Boards must save themselves from drowning in information

26-02-2019

Tuesday 26 February 2019, Ever-bigger meeting papers are preventing boards from operating properly, according to ICAEW. A new report, Information overload: effective boards and committees in financial services, suggests the increasing volume of information has reached such a scale that it is undermining team work, the ability to make good decisions and prevents boards from becoming more diverse and inclusive.

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