Economics

January 22, 2024
Internal Audit

Internal Audit Vision

Shane Rogers, CAW Network USA President and Chartered Accountant, discusses the importance of setting an innovative vision.
October 31, 2023
IFRS

Beyond Accounting – IFRS Update

In conjunction with CAW Network USA, BDO USA’s IFRS experts provide updates on recent developments in relation to International Financial Reporting Standards (IFRS), continuing our tradition of providing an easy way for financial management, board directors, and audit committees to stay on top of today’s hot topics.
May 26, 2023
auditing the future

Auditing the Future – June 2022

Shane Rogers, Chartered Accountant and Head of Audit with Swiss Re for the Americas leads a presentation on auditing the future and where does internal audit ‘go from here’.
February 22, 2023
Risk

Benchmark Drives Behavior…. mitigating the risk (part 3)

This is the third article in the series related to benchmarks and their impacts on the behavior of those subjected to those benchmarks. In the first article we addressed how benchmarks could incentivize individuals to do things that might not be in the best overall interests of an organization. In the second article we discussed specific examples of where benchmarks had created aberrant outcomes and linked these to how the benchmarks were derived, implemented, and monitored. In this article I have changed tack and as opposed to pointing out the risks and concerns and discussing where things went off the rails, I have provided some tips on how to minimize the risk of problematic outcomes of benchmarks that are in place or are created and implemented by an organization. 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.
November 22, 2022
IFRS Webinar 2022

Progressive Audit Practices

Internal Audit teams are going through some major transformations as they look to move away from a traditional approach comprising sample-based testing and an Annual Plan, to a more progressive and digital approach that is more responsive to risk.
March 3, 2022
insight

The Finance+ insight series

ICAS has something new for 2022. The Finance+ insight series helps put you in the bigger picture, exploring the key issues and opportunities for today’s finance professional. Recent events have revealed the need for resilience and the readiness to grasp new ways of thinking, living and working. They have also shown that with change comes opportunity and demonstrated the role ICAS Members can play in shaping a better future for us all.
March 3, 2022
social mobility

How to approach social mobility on a global level

Managing social mobility in a global organisation requires coherent guidance that applies across multiple offices, geographies and societies. The shockwaves sent through the economy, labour market and children’s education by the pandemic must be addressed in order to repair social mobility, according to the Resolution Foundation.
March 3, 2022
pay gap

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
March 3, 2022
bitcoin aml

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.
March 3, 2022
diversify markets

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.
January 10, 2022
2022

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.
January 10, 2022
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.
November 18, 2021
benchmarking-02

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.
November 18, 2021
benchmarking-01

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.