Nominate Elaine Clark For The ICAEW Council

 

My Twitter chum, and fellow member of the ICAEW, Elaine Clark is standing for election to the ICAEW Council in the North West. 

I wish her all the best, and would ask any members in the North West to sign her nomination papers; as she will be a force for good.

I've decided to stand for @icaew council for The North Westhttps://t.co/oIxG0F6tX4

The way to make change happen is from within

— CheapAccounting.co.uk expert - Elaine Clark (@cheapaccounting) November 12, 2020

Elaine has correctly called out the absurdity of the ICAEW's regional (and indeed international) council structure that not only prevents members from one region nominating members from another, but also does not have space for a "cyberspace" council member.

I think I'd be better suited to:

Strategic Interest Group Representatives

Co-opted members for strategic areas/sectorshttps://t.co/RF0vBFF8kJ

Do you think the @icaew should have a:

"Social Media & Online Digital Practice Member"

on their Council? https://t.co/ro0zMcEMG4

— CheapAccounting.co.uk expert - Elaine Clark (@cheapaccounting) November 12, 2020

 

In 2007 I noted the following:

"Why does the ICAEW claim to be international, yet council elections are decided on a local basis?

Why does the ICAEW insist on prospective candidates for council needing 10 signatures from the local area, before they are even allowed to stand?

Why does the ICAEW need 90, or more, council members?

Operating a Victorian trading association model simply will not do for the 21st century.

Until the ICAEW gets that point it will go nowhere."

In fact in 2007 I tried to stand for council, but couldn't get the nominations because the ICAEW wouldn't tell anyone in Croydon (where I was living at the time) that I was standing. 

Therefore please nominate Elaine, as she might actually achieve what I failed to achieve!

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Update on The ICAEW Investment in Engine B

In October I noted that the ICAEW had invested in Engine B, and that Michael Izza is on the Board.

AccountingWeb have now run with the story:

"The ICAEW’s recent additional investment into tech start-up Engine B was perhaps largely unnoticed by many members. Taking a 10% stake and Michael Izza joining the board seems an unusual step for an institute to take. 

Aside from the potential conflict of interest, historically, accounting institutes and major tech initiatives have largely been a failure. How will this investment stack up?

Getting to grips with Engine B and what it aims to do isn’t easy. The website is quite opaque and subsequent press releases unhelpful, especially as it describes itself as an “intelligent data access platform” using “dynamic knowledge graphs”.

Put more simply, Engine B seems to be two things:

• A set of rules (or data models) that help to standardise structured data (like financial accounts) and unstructured data (such as PDFs). 
• A technology platform, that allows this data to be interrogated and for other software to be linked to it...

While at some point there could be a commercial conflict with other software providers, Lyford-Smith is keen to stress that their interest is at the ‘foundational layer’. He stresses there is no conflict with the audit itself as “this isn’t the standards of the audit, we regulate the professional behaviour, in the same way we don’t regulate Excel formula creation.” 

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ICAEW Invests In Engine B

Not quite sure why this hasn't been reported on yet. 🤔

Companies House filings reveal @icaew is now an investor in @EngineB_ , a professional services company which uses data access and AI to drive innovation. pic.twitter.com/sVu7NpIAdu

— Nick Levine (@nicklevine) October 20, 2020

Michael Izza is also on the board. 

As per Engine B's website:

"Engine B is, quite simply, a data solution. Although primarily created for the professional and legal services industries, the impact will be exponential in its reach.

In clear terms Engine B provides:

A set of data models, which are open source and available to all.

These data models can be installed with clients to capture and house client information in an intelligent data access platform.

Client data can then be interrogated and analysed through dynamic knowledge graphs.

Knowledge Graphs are a programmatic way to model information. They can uncover hidden data and relationships that are too complex for human cognition through applying various graph-computing techniques and algorithms."

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• Premiums are Annual Premiums.
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• Premiums and IPT are due in full in advance / at commencement of scheme.
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ICAEW Exam Results Day

 

Good luck to those receiving their ICAEW exam results today!

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• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
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ICAEW's RoadMap To Carbon Neutrality

I am excited and proud to announce that @ICAEW is becoming the first major UK professional body to transform into a #CarbonNeutral organisation. Please read my new article for all the details.#ClimateChange #Sustainabilityhttps://t.co/meBPfqlPzd

— Michael Izza (@MichaelIzza) September 17, 2020

Membership fees will be used to buy carbon offsets:

"In addition, we will immediately be purchasing carbon offsets against our entire annual greenhouse gas emissions."

Happy with that?

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• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

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Council Elections

 

Council elections

Nominations for Elections to Council will open on 12 November 2020 at 12 Noon (GMT) and close on 14 December 2020 at 12 Noon (GMT)

Please ensure your constituency details are up to date by the 16 October 2020 via your ‘My Profile’ tab. 

View the Council constituency vacancies 

• 2021 election timetable and FAQs
• Declaration of interests policy and guidance
• Council election regulations
• Council member role profile

 

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Technical Problems With Corporate Reporting Exam In Some Exam Centres

A small number of students have been offered to sit a new Corporate Reporting paper due to not being able to sit or complete their exam, due to technical issues in exam centres. These students have all been contacted directly with next steps.

— ICAEW (@ICAEW) September 7, 2020

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#ICAEWROAR 2020

Who will make the 2020 #ICAEWROAR accountancy influencer list?

See last year’s results > https://t.co/sFDr0ebWGJ#ICAEW #AccountancyInfluencers #Accountancy #Influencers #Finance #Business pic.twitter.com/oUcEVWGUUF

— ICAEW (@ICAEW) August 5, 2020

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Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

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ICAEW Exam Booking System Update

WorldPay have confirmed they now have limited servers running. The queue has restarted, at a much slower rate, to ensure payments are processing correctly. You can still enter your email on the queue system & we will notify you when you are able to book your exam. #icaewStudents

— ICAEW (@ICAEW) July 20, 2020

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• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

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ICAEW Exam Booking System Crashes

 

Due to continued technical issues, we’ve delayed opening the exam booking system until Monday 20 July at 10am (UK time). This will allow time to fully investigate and resolve. Please accept our apologies for the stress and anxiety this will have caused you.

— ICAEW (@ICAEW) July 14, 2020

Tax Investigation Insurance

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Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

Please click here for details.