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This episode covers AI and tax work and ISA 600 on group audits, following the release of two pieces of guidance on the topics.  With several tax cases in which AI has been used and provided incorrect or misleading information, we outline how to apply the five fundamental ethical principles to AI use.  ISA 600 on group audits was revised, effective for audits of financial statements for periods commencing on or after 15 December 2023. These changes are quite wide ranging, particularly when it comes to the treatment of component auditors. We go through the details.  Links: ICAEW: Professional conduct in relation to taxation (PCRT) - https://www.icaew.com/technical/tax/working-in-tax/pcrt ICAEW: Auditing groups of companies - https://www.icaew.com/technical/audit-and-assurance/audit/group-audit HMRC v Gunnarsson - https://assets.publishing.service.gov.uk/media/688240632b6fd60b7c16100d/HMRC_v_Gunnarsson_final_decision.pdf ICAEW: PCRT Guidance on ethical use of AI - https://www.icaew.com/technical/tax/working-in-tax/pcrt/topical-guidance-application-of-pcrt-to-ethical-use-of-artificial-intelligence-tools ICAEW: Use of AI criticised in tax case - https://www.icaew.com/insights/tax-news/2025/aug-2025/use-of-ai-criticised-in-tax-case ICAEW: Group auditing: nine key changes for auditors - https://www.icaew.com/insights/viewpoints-on-the-news/2026/jan-2026/group-auditing-nine-key-changes-for-auditors Host Philippa Lamb Guests Sophie Wales, Director of Regulatory Policy at ICAEWCatherine Hardinge, Partner, Price Bailey    Producer Natalie Chisholm Episode first published: 3 February 2026 Podcast recorded: 28 January 2026

Celsius network claimed to be a safe place to trade digital currencies and assets. In reality, it was using customers’ money for its own ends. In the first Behind the Numbers of the New Year, we explore the collapse of digital currency platform Celsius network, the scandal that followed, and its lasting impact on crypto asset regulation, particularly custody.   Since that scandal, international regulators including the Financial Conduct Authority have been looking at custody rules and wider regulation around digital assets. But are they on the right track? Transcript Read the full transcript of this episode here - https://www.icaew.com/insights/podcast/behind-the-numbers/how-the-celsius-scandal-is-reshaping-crypto-regulation/transcript Links Founder of Celsius sentenced to 12 years for fraud - https://www.justice.gov/usao-sdny/pr/founder-celsius-sentenced-12-years-fraud-and-market-manipulation Celsius investigation: all the red flags - https://fortune.com/2023/02/07/celsius-network-investigation-red-flags/ FCA Crypto Roadmap - https://www.fca.org.uk/publication/documents/crypto-roadmap.pdf FCA: Stablecoin issuance and Cryptoasset Custody proposals - https://www.fca.org.uk/publications/consultation-papers/cp25-14-stablecoin-issuance-cryptoasset-custody ICAEW: The Future of crypto regulation: key considerations - https://www.icaew.com/insights/viewpoints-on-the-news/2025/nov-2025/the-future-of-crypto-regulation-key-considerations Host Philippa Lamb Guests Polly Tsang, Senior Financial Services Regulatory Manager, ICAEWJessica Caws, Co-Head of Financial Services at Birketts LLPShermeen Kazmi, Partner, Grant ThorntonProducer Natalie Chisholm Episode first published: 12 January 2026 Podcast recorded: 16 December 2025

In the first episode of 2026, our usual team of soothsayers David Williamson, Frances Haque and Iain Wright review the events of the past 12 months, and look ahead to what we might expect in the coming year. Will 2026 be more of the same, or will there be some reasons to be cheerful? Could the AI bubble burst, or will it just deflate? And did our panel get anything right last year? Transcript Read the full transcript of this episode - https://www.icaew.com/insights/podcast/behind-the-numbers/a-world-cup-bump-an-ai-slump-2026-predictions/transcript Links ICAEW: The 2025 predictions episode - https://www.icaew.com/insights/podcast/accountancy-insights/trump-tariffs-and-eu-turmoil-2025-predictions ICAEW: UK Business Confidence Monitor - https://www.icaew.com/technical/economy/business-confidence-monitor ‘The AI bubble will burst’ - https://www.bbc.co.uk/sounds/play/p0m7h23s Host Philippa Lamb Guests Iain Wright, Managing Director, Reputation and Influence, ICAEWDavid Williamson, Political Editor, Sunday ExpressFrances Haque, Chief Economist, Santander UKProducer Natalie Chisholm Episode first published: 31 December 2025 Podcast recorded: 15 December 2025

With Christmas round the corner, we’ve put together a special best of episode of Behind the Numbers, featuring some of the most memorable conversations from throughout the year.  From discussions of Trump and tariffs on our 100th episode to one of our favourite conversations on the history of money, it’s an excellent way to remind yourself of what went on this year – or catch up on what you’ve missed.  Links: ICAEW: Rebuilding trust in volatile times - https://www.icaew.com/insights/podcast/behind-the-numbers/rebuilding-trust-in-volatile-times ICAEW: Appraising Starmer’s Labour - https://www.icaew.com/insights/podcast/behind-the-numbers/appraising-starmers-labour ICAEW: How to bounce back from a cyber attack - https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-bounce-back-from-a-cyber-attack ICAEW: Dealing with uncertainty and mental health - https://www.icaew.com/insights/podcast/behind-the-numbers/dealing-with-uncertainty-and-mental-health ICAEW: Can history teach us anything about digital money? - https://www.icaew.com/insights/podcast/behind-the-numbers/can-history-teach-us-anything-about-digital-money Host Philippa Lamb Clips featuring Iain Wright, Chief Policy & Communications Officer, ICAEWDavid Williamson, Chief Political Commentator, The Express Frances Haque, Santander Chief Economist Neil Hare-Brown, Founder, STORM GuidanceMichael Hoare, partner, Kekst CNCPaul Guess, Case Management Officer at CABARiaz Shah OBE, Professor of Practice, Hult International Business SchoolTony Moore, Lecturer in Finance, Henley Business SchoolPolly Tsang, Senior Financial Services Regulatory Manager, ICAEWProducer Natalie ChisholmEpisode first published: 18 December Podcast recorded: 7 November 2025

This episode is all about the Budget. What was in it? What are the implications? Was there anything positive to glean from it?  Stepping in for Philippa Lamb on this episode, Guy Ruddle speaks to the usual economic dream team of Santander Chief Economist Frances Haque, David Williamson, who joins us from Portcullis House, and Iain Wright, ICAEW’s Chief Policy and Communications Officer.  They share their views on the early publication of the OBR’s projections, the constant leaking ahead of the Budget, the economic implications of the measures included within it, and who it was actually for.  Time codes 01’53”: The OBR’s leaked report 05’48”: The content of the Budget and its implications 10’07”: The lack of growth measures Links ICAEW: Budget 25: Do the tax changes meet the tenets? - https://www.icaew.com/insights/podcast/the-tax-track/budget-25-do-the-tax-changes-meet-the-tenetsHost Guy RuddleGuests Frances Haque, Chief Economist, SantanderDavid Williamson, Chief Political Commentator, The ExpressIain Wright, Chief Policy and Communications Officer, ICAEWProducer Natalie Chisholm Episode first published: 1 December 2025 Podcast recorded: 27 November 2025

This episode focuses on the integration of AI in audit processes, emphasising the need for practical guidance from the Financial Reporting Council (FRC) to build industry confidence, especially with smaller firms. The conversation highlighted the importance of human oversight, the role of third-party technology providers, the challenges of explainability and data security, and the need for clear communication with clients. Philippa Lamb is joined by Ramana McConnon, Head of Assurance Technology at the FRC, Jon Morris, Director of Audit and Professional Standards for Grant Thornton, and Martin Brown, Gen AI lead in Deloitte’s Audit technical team.  Time codes 04’50”: Discovering the AI use cases and benefits of the new technology for smaller firms13’49”: Understanding explainability and the need for human oversight with AI solutions18’25”: Are off-the-shelf solutions enough and will firms need to make big investments?Links ICAEW: FRC publishes landmark guidance on the uses of AI in audit - https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/frc-publishes-landmark-guidance-on-the-uses-of-ai-for-auditFRC guidance on audit and AI - https://media.frc.org.uk/documents/AI_in_Audit.pdfICAEW: AI in audit: opportunities and challenges - https://www.icaew.com/technical/audit-and-assurance/faculty-resources/webcasts/ai-in-auditHost Philippa Lamb Guests Ramana McConnon, Head of Assurance Technology at the FRCJon Morris, Director of Audit and Professional Standards for Grant ThorntonMartin Brown, Gen AI lead in Deloitte’s Audit technical teamProducer Natalie Chisholm Episode first published: 11 November 2025 Podcast recorded: 7 November 2025

In this episode, we’re exploring just how useful Large Language Models (LLMs) are when it comes to spreadsheets; what needs to happen by 18 November when it comes to Companies House ID verification; and how the OBR comes to its conclusions. Host Philippa Lamb is joined by Simon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan University, to talk about his research into LLMs' effectiveness when it comes to spotting errors in spreadsheets, with some clear winners and losers from the process. Next, Mike Miller, ICAEW’s Economic Crime Manager, gives an update on Companies House ID verification and what Directors and accounting firms have to do to prepare. Finally, Martin Wheatcroft, Advisor on public finances for ICAEW, explains the role and methodology of the OBR. Time codes: Spreadsheets and AI – 01’06” Companies House ID Verification – 13’28” How the OBR works – 23’14” Transcript You can read a full transcript of the episode here: https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/the-best-and-worst-genais-for-spreadsheets Links: ICAEW: The best and worst gen AIs for spreadsheets - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/the-best-and-worst-genais-for-spreadsheets Simon Thorne’s study on LLMs and spreadsheets - https://arxiv.org/abs/2506.17330 ICAEW: Authorised corporate service providers (ACSP) and ID verification - https://www.icaew.com/regulation/aml-supervision/aml-resources/acsp-and-id-verification ICAEW: ID verification is coming – everything directors need to know - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/co-house-id-changes-what-directors-need-to-know ICAEW: ID verification is coming – everything accounting firms need to know - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/co-house-id-changes-what-accountants-need-to-know ICAEW: Companies House: who needs to be an ACSP and when should they register? - https://www.icaew.com/insights/viewpoints-on-the-news/2025/aug-2025/companies-house-who-needs-to-be-an-acsp-and-when-should-they-register UK productivity downgraded - https://www.bbc.co.uk/news/articles/c0rpve82jxvo Rachel Reeves v the OBR: chancellor aims to loosen the watchdog’s grip - https://www.theguardian.com/business/2025/oct/11/rachel-reeves-v-the-obr-chancellor-aims-to-loosen-the-watchdogs-grip Labour fury at OBR is understandable but misplaced - https://www.ft.com/content/f1b53cb4-ba83-4b0a-a8f3-65ffab93b299 New Economics Foundation – A democratic fiscal framework - https://neweconomics.org/2025/08/a-democratic-fiscal-framework Host Philippa Lamb Guests Simon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan UniversityMike Miller, Economic Crime Manager, ICAEWMartin Wheatcroft, Advisor on public finances, ICAEWProducer Natalie Chisholm Episode first published: 28 October 2025 Podcast recorded: 22nd October 2025 All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.

In this episode, we discuss how prepared organisations really are for cyber attacks, what to do if and when your business is affected, and how to manage the communications challenges. We have a great case study from a company that suffered a cyber attack, with plenty of lessons about how to mitigate the impact on customers and return quickly to business as usual. Philippa Lamb is joined by Peter Davenport, Crisis Communications Specialist, Definition Group; Michael Hoare, Director, Kekst CNC;  Neil Hare-Brown, Founder, Storm Guidance; and Nadeem Raza, CEO, Microlise. Time Codes 11:01: Nadeem Raza from Microlise shares his cyber attack case study15:07: A deeper dive into how M&S and Jaguar Land Rover are managing the ongoing challenges from cyber attacks27:25: The speakers share their top tips for cyber attack preparednessTranscript:  You can read the full transcript of this episode here: https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-bounce-back-from-a-cyber-attack/transcript Links ICAEW: Cyber Security awareness -https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-month ICAEW: Four cyber security lessons from M&S and other breaches - https://www.icaew.com/insights/viewpoints-on-the-news/2025/oct-2025/four-cyber-security-lessons-from-mands-and-other-breaches Host Philippa Lamb Guests Peter Davenport, Crisis Communications Specialist, Definition GroupMichael Hoare, Director, Kekst CNCNeil Hare-Brown, Founder, Storm GuidanceNadeem Raza, CEO, MicroliseProducer Natalie Chisholm Episode first published: 14 October 2025 Podcast recorded: 7 October 2025

We’re all navigating uncertainty right now. How can accountants manage it professionally and personally? Riaz Shah OBE, former EY Partner and Professor of Practice at Hult International Business School, breaks down the biggest factors affecting the profession at the moment, and how it might shape the role and future of accountants.  Then Paul Guess, Case Management Officer for accountants’ support charity CABA, talks about the mental toll that the current environment is taking on professionals, and the kind of support that they can expect to receive. Links: https://www.icaew.com/learning-and-development/events/icaew-annual-conferencehttp://caba.org.uk/https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/global-trust-in-chartered-accountants-rises-in-ai-worldhttps://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/ai-should-it-replace-junior-roles Host Philippa Lamb Guests Riaz Shah OBE, Professor of Practice, Hult International Business School Paul Guess, Case Management Officer, CABA Producer Natalie Chisholm Episode first published: 8 October 2025 Podcast recorded: 25 September 2025

Whistleblowing is a vital process but often fraught with far more risk and emotional upheaval than it should be. In Western Europe, 43% of all occupational fraud cases come to light thanks to whistleblowers. And it’s not just fraud: cases from poor health-and-safety practices to bad team management have all been righted thanks to people speaking out. Although many whistleblowing cases do result in bad practice being stopped and workplaces improved, some whistleblowers have been victimised or forced out of their jobs. In the UK, the new Failure to Prevent Fraud offence will mandate large employers to put clear whistleblowing policies in place, and both the Serious Fraud Office and HMRC are looking at schemes to incentivise whistleblowing. Andrew Pepper-Parsons, Director of Policy and Communications at whistleblowing charity Protect, and Brendan Weekes, Associate Director at accountancy firm, S&W, join our host Philippa Lamb to discuss the topic, why a significant minority of whistleblowers don’t get the requisite protection and what the forthcoming regulation and potential SFO and HMRC schemes will mean for UK business.  They also both discuss some best practice case studies from organisations that are doing a good job of encouraging people to speak up when they see something that’s not right. This includes the Wellcome Trust’s excellently named scheme “The Only Way is Ethics”. Links https://protect-advice.org.uk/checklist-for-whistleblowers/https://whistleblowersblog.org/global-whistleblowers/uks-sfo-director-continues-to-push-for-whistleblower-awards/https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/the-four-elements-of-effective-whistleblowing-culturehttps://www.icaew.com/insights/viewpoints-on-the-news/2025/jun-2025/why-whistleblowing-is-a-requirement-not-a-choice-for-accountantsHost Philippa Lamb Guests ●       Andrew Pepper-Parsons, Director of Policy and Communications, Protect ●       Brendan Weekes, Associate Director, S&W  Producer Natalie Chisholm Episode first published: 25 September 2025 Podcast recorded: 12 September 2025

In this special episode of Accountancy Insights, we bring you a timely interview of Kemi Badenoch by ICAEW’s Chief Executive Alan Vallance who sat down with her after a speech she gave at Chartered Accountants’ Hall. Badenoch talked about tackling perennial long-term problems like productivity and smarter regulation. She spoke with feeling about her frustration when, as Business Secretary in the previous Conservative government, she would meet with business leaders who showed her how debilitating regulation could be for business if the consequences of new laws are not thought through properly. Drawing on her tech background, she also disagreed with her former colleague Jeremy Hunt that AI would replace accountants, saying “I don’t think accountants have anything to worry about.”  ICAEW’s Chief Policy and Communications Officer Iain Wright then joins our host Philippa Lamb to discuss Badenoch’s proposals and how it’s further evidence of ICAEW’s unique position as a leading voice for business. Links  ICAEW: More on Kemi Badenoch’s speech - https://www.icaew.com/insights/viewpoints-on-the-news/2025/sep-2025/kemi-badenoch-speaks-at-icaew-we-need-to-take-risks ICAEW Policy: How the government can deliver growth - https://www.icaew.com/about-icaew/regulation-and-the-public-interest/policy/how-the-government-can-deliver-growth  Host Philippa Lamb Guests Iain Wright, Chief Policy and Communications Officer, ICAEWProducer Natalie Chisholm Episode first published: 18 September 2025 Podcast recorded: 12 September 2025 

Accountancy Insights explores the month’s top stories in the profession. In this episode, we discuss the introduction of four statutory instruments to enforce Companies House reform, as well as the common mistakes to avoid when scaling up a business. We also cover the introduction and content of the Next Generation ACA qualification. Philippa Lamb is joined by Mike Miller, ICAEW Economic Crime Manager; Anne Allibone, fractional CFO and commercial advisor; and Shaun Robertson, ICAEW Director of Education and Qualifications. Time codes 00:30 Companies House update 11:00 Scaling up smartly 21:54 The Next Generation ACA   Links ICAEW: Four draft instruments brought in to enforce Companies House reform: https://www.icaew.com/insights/viewpoints-on-the-news/2025/jul-2025/four-draft-instruments-brought-in-to-enforce-companies-house-reform ICAEW: How to grow hub: https://www.icaew.com/technical/business/how-to-grow  ICAEW: Next Generation ACA hub: https://www.icaew.com/learning-and-development/aca/next-generation-aca    Host Philippa Lamb   Guests Mike Miller, Economic Crime Manager, ICAEWAnne Allibone, fractional CFO and commercial advisorShaun Robertson, Director, Education and Qualifications, ICAEW  Producer Natalie Chisholm   Episode first published: 11 September 2025

In this episode of Behind the Numbers, we explore what the history of money can tell us about its future. Currency has been evolving for thousands of years, but the pace of change has now escalated with the introduction of online banking and digital currencies. We discuss the parallels between modern and historical advances in currency, and key lessons as central banks look to introduce their own digital currencies. Host Philippa Lamb is joined by Polly Tsang, Senior Financial Services Regulatory Manager at ICAEW; and Dr Tony Moore, Lecturer in Finance at Henley Business School. Links  ICAEW Technology hub: https://www.icaew.com/technical/technology  ICAEW Financial Services Faculty: https://www.icaew.com/technical/financial-services Host Philippa Lamb Guests Polly Tsang, Senior Financial Services Regulatory Manager, ICAEWDr Tony Moore, Lecturer in Finance, Henley Business SchoolProducer Natalie Chisholm Episode first published: 20 August 2025 Podcast recorded: 13 August 2025

ICAEW’s Iain Wright hosts a conversation with Emma Jones CBE, the government’s newly appointed Small Business Commissioner, in this special episode of Accountancy Insights.   Jones discusses the Small Business Plan, launched on 30 July, which introduces new measures to tackle late payments. Estimates place the cost of late payments to the UK economy at £11bn per year as well as contributing to the closure of 38 businesses each day. Upcoming legislation will also reduce maximum payment terms from 60 to 45 days .   She also shares learnings from a career spent in small business. Jones founded and exited her first business at the age of 27 and then went on to establish both Enterprise Nation and StartUp Britain to support small and young businesses across the country. She has also previously served as SME Representative for the Crown Commercial Service.    Links  Policy paper: ‘Backing your business: Our plan for small and medium-sized businesses’: https://assets.publishing.service.gov.uk/media/688b1f6f1affbf4bedb7b11d/our-plan-for-small-and-medium-sized-businesses.pdf Open consultation: ‘Late payments: tackling poor payment practices’: https://www.gov.uk/government/consultations/late-payments-tackling-poor-payment-practices ICAEW Small and Micro Business Community: https://www.icaew.com/technical/small-and-micro-business-community  Host Iain Wright, Chief Policy and Communications Officer, ICAEW   Guest Emma Jones CBE, Small Business Commissioner   Producer Natalie Chisholm   Episode first published: 12 August 2025 Podcast recorded: 7 August 2025

In this episode, we discuss the findings of the Post Office Horizon IT Inquiry’s first report, including lessons for other companies around culture and values. We also explore ICAEW’s latest research into mid-tier practices, covering the key drivers of growth and the biggest challenges ahead.   Philippa Lamb is joined in the studio by Peter van Veen, ICAEW Director of Corporate Governance and Stewardship; and Sarah Ghaffari, ICAEW Director of Communities, Business and Practice.   Time codes 00:39 Inside the Post Office Inquiry22:29 New mid-tier research  Links ICAEW event: Post Office treatment and abuse of Sub Post Masters: https://events.icaew.com/pd/31471/follow-up-post-office-treatment-and-abuse-ofICAEW: Evolution of mid-tier accountancy firms: https://www.icaew.com/technical/practice-resources/evolution-of-mid-tier-accountancy-firms   Host Philippa Lamb   Guests Peter van Veen, Director, Corporate Governance and Stewardship, ICAEWSarah Ghaffari, Director, Communities, Business and Practice, ICAEW  Producer Natalie Chisholm    Episode first published: 22 July 2025 Podcast recorded: 15 July 2025