Accountancy Insights

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, ICAEW
Jessica Caws, Co-Head of Financial Services at Birketts LLP
Shermeen Kazmi, Partner, Grant Thornton
Producer
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, ICAEW
David Williamson, Political Editor, Sunday Express
Frances Haque, Chief Economist, Santander UK
Producer
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, ICAEW
David Williamson, Chief Political Commentator, The Express 
Frances Haque, Santander Chief Economist 
Neil Hare-Brown, Founder, STORM Guidance
Michael Hoare, partner, Kekst CNC
Paul Guess, Case Management Officer at CABA
Riaz Shah OBE, Professor of Practice, Hult International Business School
Tony Moore, Lecturer in Finance, Henley Business School
Polly Tsang, Senior Financial Services Regulatory Manager, ICAEW
Producer
Natalie Chisholm
Episode 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-tenets
Host
Guy Ruddle
Guests
Frances Haque, Chief Economist, Santander
David Williamson, Chief Political Commentator, The Express
Iain Wright, Chief Policy and Communications Officer, ICAEW
Producer
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 firms
13’49”: Understanding explainability and the need for human oversight with AI solutions
18’25”: 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-audit
FRC guidance on audit and AI - https://media.frc.org.uk/documents/AI_in_Audit.pdf
ICAEW: AI in audit: opportunities and challenges - https://www.icaew.com/technical/audit-and-assurance/faculty-resources/webcasts/ai-in-audit
Host
Philippa Lamb
Guests
Ramana McConnon, Head of Assurance Technology at the FRC
Jon Morris, Director of Audit and Professional Standards for Grant Thornton
Martin Brown, Gen AI lead in Deloitte’s Audit technical team
Producer
Natalie Chisholm
Episode first published: 11 November 2025
Podcast recorded: 7 November 2025