Social mobility: do we need a class pay gap?
Class pay gaps within your business are an important indicator of social inequality. Reporting them is essential if you’re serious about ensuring socioeconomic diversity at all levels
Economics
AML: how money launderers use virtual assets
In the seventh instalment of Anti-Money Laundering: The Basics, IFAC and ICAEW look at the risks associated with virtual assets.
Cryptocurrencies and other virtual assets offer a lot of opportunities for legitimate businesses, but it’s also potentially useful for money launderers.
Diversify markets and innovate systems to thrive in 2022
Business confidence in the first quarter of 2022 has returned to pre-pandemic levels, suggesting that companies are looking to the future after an unprecedented two years, ICAEW says.
ICAEW’s Business Confidence Monitor (BCM), which surveys 1,000 chartered accountants across the UK, found confidence at 27.6 (out of 100) in the first quarterly index of 2022. Although this is significantly below the highest-ever reading of 47 two quarters ago, the peak was explained as a blip following the introduction of the vaccine.
What to expect from 2022 – Part 2
In Part 2, ICAEW Chief Executive and Chair of Chartered Accountants Worldwide, Michael Izza, discusses non-financial reporting, public sector finances, and the big tech trends of 2022.
What to expect from 2022 – Part 1
In the first of a two part series, ICAEW Chief Executive and Chair of Chartered Accountants Worldwide, Michael Izza, looks at the biggest issues facing business and the wider economy, with help from experts from around the Institute.
Takeaways from the ICAS webinar on The Production and Consumption of Information on Intangibles
Marie Gardner highlights key points from the recent ICAS intangibles webinar.
Participants from across Europe attended an ICAS webinar on intangibles, held in partnership with the University of Ferrara, the European Financial Reporting Advisory Group (EFRAG) and the European Federation of Financial Analysts Societies (EFFAS).
Benchmark Drives Behavior, the saga continues…
In my previous article, I covered some of the challenges I encountered during my career that caused me to question issues surrounding benchmarks and the process of creating benchmarks.
I touched on how certain benchmarks can lead to problematic outcomes across a myriad of spheres such as safety, financial reporting, retaining employees, etc. In that article, I said that the follow-on article would provide some additional and more detailed examples of where things went wrong along with some analysis.
Benchmark Drives Behavior
An anecdotal look at how behavior follows what we measure and how this can lead to aberrant and/or potentially fraudulent outcomes.
Guido van Drunen is a forensic accounting expert, with decades of experience in high-profile investigative work. Having recently retired from KPMG he is writing a series of articles about how he has seen benchmarks drive behavior – often with aberrant or potentially perverse outcomes. The purpose of these articles is to make readers think more deeply and maybe differently about key metrics, how they are created, how they are measured and what behaviors they encourage.
Highlights: What’s Happening with International Financial Reporting Standards
CAW Network USA teams up with BDO USA’s IFRS Experts.