Accountancy Insights

• Accountancy Insights: How should audit firms use AI?

  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 codes04’50”: 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?LinksICAEW: 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-auditHostPhilippa LambGuestsRamana 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 teamProducerNatalie ChisholmEpisode first published: 11 November 2025Podcast recorded: 7 November 2025

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• Accountancy Insights: LLMs and spreadsheets, Companies House IDV, and the OBR’s role

  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”TranscriptYou 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-spreadsheetsLinks: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-spreadsheetsSimon Thorne’s study on LLMs and spreadsheets - https://arxiv.org/abs/2506.17330ICAEW: Authorised corporate service providers (ACSP) and ID verification - https://www.icaew.com/regulation/aml-supervision/aml-resources/acsp-and-id-verificationICAEW: 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-knowICAEW: 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-knowICAEW: 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-registerUK productivity downgraded - https://www.bbc.co.uk/news/articles/c0rpve82jxvoRachel 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-gripLabour fury at OBR is understandable but misplaced - https://www.ft.com/content/f1b53cb4-ba83-4b0a-a8f3-65ffab93b299New Economics Foundation – A democratic fiscal framework - https://neweconomics.org/2025/08/a-democratic-fiscal-frameworkHostPhilippa LambGuestsSimon Thorne, Senior Lecturer in Computer Science, Cardiff Metropolitan UniversityMike Miller, Economic Crime Manager, ICAEWMartin Wheatcroft, Advisor on public finances, ICAEWProducerNatalie ChisholmEpisode first published: 28 October 2025Podcast recorded: 22nd October 2025All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.

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• Behind the Numbers: How to bounce back from a cyber attack

  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 Codes11:01: 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/transcriptLinksICAEW: Cyber Security awareness -https://www.icaew.com/technical/technology/cyber-security/cybercrime-awareness-monthICAEW: 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-breachesHostPhilippa LambGuestsPeter Davenport, Crisis Communications Specialist, Definition GroupMichael Hoare, Director, Kekst CNCNeil Hare-Brown, Founder, Storm GuidanceNadeem Raza, CEO, MicroliseProducerNatalie ChisholmEpisode first published: 14 October 2025Podcast recorded: 7 October 2025

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• Behind the Numbers: Dealing with uncertainty, and mental health

  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 HostPhilippa LambGuestsRiaz Shah OBE, Professor of Practice, Hult International Business SchoolPaul Guess, Case Management Officer, CABAProducerNatalie ChisholmEpisode first published: 8 October 2025Podcast recorded: 25 September 2025

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• Behind the Numbers: Should we compensate whistleblowers?

  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”.Linkshttps://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-accountantsHostPhilippa LambGuests●       Andrew Pepper-Parsons, Director of Policy and Communications, Protect●       Brendan Weekes, Associate Director, S&W ProducerNatalie ChisholmEpisode first published: 25 September 2025Podcast recorded: 12 September 2025

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