Accountancy Insights

The government has plans to tokenise financial markets. What exactly is tokenisation? What might it look like in practice and what are the big questions about it that still need answering? Polly Tsang, ICAEW’s Senior Financial Services Regulatory Manager, explains.

After that, audit reports: ICAEW has created the Auditor Reporting Lab, alongside audit firms, to encourage modernisation in the market. KPMG Partner in Professional Practice, Accounting & Reporting, Pamela Taylor, has been thinking hard about how to make them more useful and more user-friendly.

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Links
ICAEW: What is tokenisation, and what are the challenges for accountants? - https://www.icaew.com/insights/viewpoints-on-the-news/2026/may-2026/what-is-tokenisation-and-the-challenges-for-accountants
Government tokenisation announcement - https://www.gov.uk/government/news/uk-fintech-backed-to-embrace-future-payments-technology
FCA call for input on the future of tokenisation - https://www.fca.org.uk/publications/calls-input/future-tokenisation-joint-vision-authorities-uk-wholesale-markets
ICAEW: Digital Assets Conference - https://www.icaew.com/learning-and-development/events/digital-assets-conference
ICAEW: Auditor Reporting Lab - https://www.icaew.com/policy-and-research/thought-leadership/audit-and-assurance-thought-leadership/auditor-reporting-lab
ICAEW: Rethinking the auditor’s report - https://www.icaew.com/policy-and-research/thought-leadership/audit-and-assurance-thought-leadership/auditor-reporting-lab/rethinking-the-auditors-report
ICAEW: Audit and Assurance Conference - https://www.icaew.com/learning-and-development/events/audit-and-assurance-conference
ICAEW podcasts - https://www.icaew.com/insights/podcast

Host
Philippa Lamb

Guests
Polly Tsang, Senior Financial Services Regulatory Manager
Pamela Taylor, Partner in Professional Practice, Accounting & Reporting, KPMG

Producer
Natalie Chisholm

Series Lead
Mark Rowland

Episode first published: 3 June 2026
Podcast recorded: 19 May 2026

Fraud is the largest reported crime in England and Wales, and the UK government wants to bring numbers down. With failure to prevent fraud now an offence, there is some onus on business to address the issue. But are enough businesses taking it seriously?

In this episode, we take a look at the common types of fraud, what businesses should be vigilant of, and how can they protect themselves?

Links
UK government fraud strategy - https://www.gov.uk/government/publications/fraud-strategy-2026-to-2029
UK fraud statistics - https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/articles/natureoffraudandcomputermisuseinenglandandwales/yearendingmarch2025
ICAEW: Fraud helpsheets - https://www.icaew.com/technical/tas-helpsheets/fraud
ICAEW: What the government’s new fraud strategies mean for business - https://www.icaew.com/insights/viewpoints-on-the-news/2026/apr-2026/what-the-governments-new-fraud-strategies-mean-for-business
ICAEW: podcasts - https://www.icaew.com/insights/podcast

Host
Guy Ruddle

Guests
Tristan Yelland, Partner, Forensic and Investigations, Grant Thornton
Will Christopher, Partner, Kinsgsley Napley
Producer
Natalie Chisholm

Series Lead
Mark Rowland

Episode first published: 20 May 2026
Podcast recorded: 20 April 2026

Everyone’s talking about energy costs at the moment. Greenfields Energy Group’s co-founder LIAM CONWAY walks us through the energy impacts of the Iran War and outlines the best ways for businesses to protect themselves from global energy shocks.   

Elsewhere on the episode, we discuss new guidance from the Financial Reporting Council on managing the risks for auditors when it comes to AI adoption; and a quick update on UKGAAP: the challenges that the changes pose for smaller entities

Links
How higher oil prices will change Britain -https://www.thetimes.com/article/f754197a-859b-460b-8ad0-1e36fc878ff1
FRC – AI in Audit: Generative and Agentic AI guidance -https://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/guidance/ai-in-audit/
ICAEW UK GAAP hub - https://www.icaew.com/technical/corporate-reporting/uk-gaap/changes-to-uk-gaap
ICAEW: Changes to UK GAAP Conference - https://www.icaew.com/learning-and-development/events/corporate-reporting-conference
ICAEW podcasts - https://www.icaew.com/insights/podcast

Host
Philippa Lamb

Guests
Liam Conway, Co-Founder, Greenfield Energy Group
Ian Pay, Head of Data Analytics, ICAEW
Fahad Asgar, Technical Manager, Corporate Reporting, ICAEW 

Producer
Natalie Chisholm

Series Lead
Mark Rowland

Episode first published: 6 May
Podcast recorded: 29 April

AI is already having an impact on the make-up of audit teams and there’s some evidence it’s already reducing the number of junior roles. But it’s all still new, and developing all of the time. What about the medium and longer term effects? How might it change training and career paths and will it ultimately boost or diminish the appeal of a career in accountancy?

We’re joined by a young accountant, an ex-accountant turned HR advisor, and the MD of a leading hiring firm in the audit and accounting sector, about how roles, skills and hiring practices are evolving, and what that means for the profession.

Links
ICAEW: Why we still need junior accountants in the age of AI - https://www.icaew.com/insights/viewpoints-on-the-news/2026/apr-2026/why-we-still-need-junior-accountants-and-how-their-role-might-change
Is There a Brain Drain in Auditing? - https://www.researchgate.net/publication/402277496_Modeling_the_Consequences_of_the_Auditors'_Leaving_the_Public_Accounting_Profession_Is_There_a_Brain_Drain_in_Auditing
ICAEW: How to stop accountancy's brain drain - https://www.icaew.com/insights/podcast/behind-the-numbers/how-to-stop-accountancys-brain-drain/transcript
ICAEW: How is AI transforming roles in industry? - https://www.icaew.com/insights/viewpoints-on-the-news/2026/apr-2026/how-is-ai-transforming-roles-in-industry
ICAEW podcasts - https://www.icaew.com/insights/podcast

Host
Philippa Lamb

Guests
Lola Abitogun, Fractional HR Director
George Oliver, Audit Associate, KPMG
Chris Lawton, Group MD, Executive Search, Robert Half

Producer
Natalie Chisholm

Series Lead
Mark Rowland

Episode first published: 15 April
Podcast recorded: 11 March

We’ve already seen immediate spikes and fluctuations in the oil price and the wider financial and commodity markets.  But how will the UK economy be affected in the months to come and how heavy a price will British Business pay? RSM Chief Economist Tom Pugh shares his thoughts. 

Liz Barclay is Co-founder of Business 111, Special Adviser on Small Business & Entrepreneurship at the Institute of Directors and campaigner for tighter rules on late payments. She gives her views on the Government’s recently announced plans.

Finally, with demand growing for AI assurance, what does good actually look like?  Expert and Senior Programme Manager in Digital Ethics & AI at TechUK, Tess Buckley, fills us in.

Links
ICAEW: Iran conflict sends economic shockwave across the Gulf -https://www.icaew.com/insights/viewpoints-on-the-news/2026/mar-2026/iran-conflict-sends-economic-shockwave-through-the-gulf
Oil prices to stay elevated across Iran War scenarios - https://www.reuters.com/business/energy/oil-prices-stay-elevated-across-iran-war-scenarios-2026-03-27/
Late payments consultation response - https://www.gov.uk/government/consultations/late-payments-tackling-poor-payment-practices/outcome/late-payment-consultation-time-to-pay-up-government-response-web-version
Government AI assurance roadmap - https://www.gov.uk/government/publications/trusted-third-party-ai-assurance-roadmap/trusted-third-party-ai-assurance-roadmap
Ensuring responsible AI development - https://www.techuk.org/resource/ensuring-responsible-ai-development-let-s-talk-about-ai-assurance.html

Host
Philippa Lamb
Guests
Liz Barclay, Co-founder of Business 111, Special Adviser on Small Business & Entrepreneurship at the Institute of Directors
Tess Buckley, Expert and Senior Programme Manager in Digital Ethics & AI at TechUK
Tom Pugh, RSM Chief Economist
Producer
Natalie Chisholm

Series Lead
Mark Rowland

Episode first published: 1 April
Podcast recorded: 27 March