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<br /> FINANCIAL<br /> SERVICES<br /> FACULTY<br /> ICAEW.COM/FSFISSUE 120<br /> NOVEMBER 2017<br /> FSFocus<br /> CLOUD COVER<br /> HOW CLOUD<br /> COMPUTING IS<br /> TRANSFORMING FS<br /> THE BIG PROFILE<br /> SERGE TABOURIN ON<br /> AVIVA'S BIG PUSH INTO<br /> THE START-UP SPACE<br /> THE £60BN QUESTION<br /> WHAT WILL BREXIT<br /> MEAN FOR LONDON'S<br /> INSURANCE MARKET?<br /> Deep<br /> impact<br /> The shocking effect<br /> of natural disasters<br /> on insurers and<br /> company reporting<br /> The Future Of Audit<br /> How technology and<br /> regulation are reshaping<br /> the world of audit<br /> $W&RQȴUPDWLRQFRPLWȇVQRVHFUHWWKDWZHWKLQNFKDQJHDQG<br /> GLVUXSWLRQFDQEHIRUWKHEHWWHU5LJKWQRZDXGLWLVDWDFURVVURDGV<br /> DQGWKHIXWXUHLVPRUHXQFHUWDLQȂDQGH[FLWLQJȂWKDQLWKDVEHHQIRUD<br /> ORQJWLPH7HFKQRORJ\ZLOOSOD\LWVSDUWLQVKDSLQJWKLVIXWXUHEXWKRZ<br /> ZLOOZHSHUFHLYHWKHUROHDQGIXQFWLRQRIDXGLWDQGDXGLWWHDPV"<br /> 'RZQORDGWKHH%RRNȊ7KH)XWXUHRI$XGLWȋDQGKHDUIURP<a title="FS Focus NOVEMBER 17 page 1" href="http://viewer.zmags.com/publication/2d7a2a66?page=1"> FINANCIAL SERVICES FACULTY ICAEW.COM/FSFISSUE 12</a> <a title="FS Focus NOVEMBER 17 page 2" href="http://viewer.zmags.com/publication/2d7a2a66?page=2"> The Future Of Audit How technology </a> <a title="FS Focus NOVEMBER 17 page 3" href="http://viewer.zmags.com/publication/2d7a2a66?page=3"> November 2017 Issue 120 COVER PHOTOGRAPHY: GETTY</a> <a title="FS Focus NOVEMBER 17 page 4" href="http://viewer.zmags.com/publication/2d7a2a66?page=4"> WELCOME The gift of giving Although it's m</a> <a title="FS Focus NOVEMBER 17 page 5" href="http://viewer.zmags.com/publication/2d7a2a66?page=5"> N E EWS & VENTS CHAIRMAN'S REPORT: WINTER IS COM</a> <a title="FS Focus NOVEMBER 17 page 6" href="http://viewer.zmags.com/publication/2d7a2a66?page=6"> NEW ANA S LYSIS CONTROLLED MIGRATION Al</a> <a title="FS Focus NOVEMBER 17 page 7" href="http://viewer.zmags.com/publication/2d7a2a66?page=7"> “Brexit has been the catalyst for rethinking thin</a> <a title="FS Focus NOVEMBER 17 page 8" href="http://viewer.zmags.com/publication/2d7a2a66?page=8"> SMITH UPFRONT What is th</a> <a title="FS Focus NOVEMBER 17 page 9" href="http://viewer.zmags.com/publication/2d7a2a66?page=9"> AV </a> <a title="FS Focus NOVEMBER 17 page 10" href="http://viewer.zmags.com/publication/2d7a2a66?page=10"> COUNTING THE LOSSES With Hurricane Irma hitting t</a> <a title="FS Focus NOVEMBER 17 page 11" href="http://viewer.zmags.com/publication/2d7a2a66?page=11"> for Florida and also a major event for the insura</a> <a title="FS Focus NOVEMBER 17 page 12" href="http://viewer.zmags.com/publication/2d7a2a66?page=12"> such fall back. That said, it will likely be easi</a> <a title="FS Focus NOVEMBER 17 page 13" href="http://viewer.zmags.com/publication/2d7a2a66?page=13"> COVER STORY $1.3bn total catastrophe bonds bough</a> <a title="FS Focus NOVEMBER 17 page 14" href="http://viewer.zmags.com/publication/2d7a2a66?page=14"> HEAD IN THE CLOUDS Cloud computing is tra</a> <a title="FS Focus NOVEMBER 17 page 15" href="http://viewer.zmags.com/publication/2d7a2a66?page=15"> CLOUD SERVICES powerful and pervasive actuar</a> <a title="FS Focus NOVEMBER 17 page 16" href="http://viewer.zmags.com/publication/2d7a2a66?page=16"> Now that the political rhetoric has died down, an</a> <a title="FS Focus NOVEMBER 17 page 17" href="http://viewer.zmags.com/publication/2d7a2a66?page=17"> NICK LOWNDES/IKON to all firms regulated by the </a> <a title="FS Focus NOVEMBER 17 page 18" href="http://viewer.zmags.com/publication/2d7a2a66?page=18"> THE BIG PROFILE DIGITAL REVOLUTION If you can't</a> <a title="FS Focus NOVEMBER 17 page 19" href="http://viewer.zmags.com/publication/2d7a2a66?page=19"> access to the market, which Aviva can provide (35</a> <a title="FS Focus NOVEMBER 17 page 20" href="http://viewer.zmags.com/publication/2d7a2a66?page=20"> A WELL-DESERVED OPPORTUNITY You worked har</a> <a title="FS Focus NOVEMBER 17 page 21" href="http://viewer.zmags.com/publication/2d7a2a66?page=21"> TECHNICAL: INTERNAL AUDIT CODE 2.0 The CI</a> <a title="FS Focus NOVEMBER 17 page 22" href="http://viewer.zmags.com/publication/2d7a2a66?page=22"> READY FOR IFRS 15? Brendan van der Hoek assesses </a> <a title="FS Focus NOVEMBER 17 page 23" href="http://viewer.zmags.com/publication/2d7a2a66?page=23"> annual fee for certain credit cards to cover the </a> <a title="FS Focus NOVEMBER 17 page 24" href="http://viewer.zmags.com/publication/2d7a2a66?page=24"> LONDON'S BURNING QUESTION There is no stopping Br</a> <a title="FS Focus NOVEMBER 17 page 25" href="http://viewer.zmags.com/publication/2d7a2a66?page=25"> TECHNICAL: INSURANCE In May EY found 10 out o</a> <a title="FS Focus NOVEMBER 17 page 26" href="http://viewer.zmags.com/publication/2d7a2a66?page=26"> BUILDING BLOCKS Julian Miller and Michael Peeters</a> <a title="FS Focus NOVEMBER 17 page 27" href="http://viewer.zmags.com/publication/2d7a2a66?page=27"> and mismatches, all of which increase costs. If a</a> <a title="FS Focus NOVEMBER 17 page 28" href="http://viewer.zmags.com/publication/2d7a2a66?page=28"> TECHNICAL: REFERENCE TECHNICAL DIRECTORY A round</a> <a title="FS Focus NOVEMBER 17 page 29" href="http://viewer.zmags.com/publication/2d7a2a66?page=29"> </a> <a title="FS Focus NOVEMBER 17 page 30" href="http://viewer.zmags.com/publication/2d7a2a66?page=30"> PEOPLE IN FOCUS RSA'S LATEST BROKER PROGRAMME </a> <a title="FS Focus NOVEMBER 17 page 31" href="http://viewer.zmags.com/publication/2d7a2a66?page=31"> PEOPLE failure to prevent the criminal facili</a> <a title="FS Focus NOVEMBER 17 page 32" href="http://viewer.zmags.com/publication/2d7a2a66?page=32"> T B ID CPD DISASTER OR OPPORTUNITY? Thomas</a> <a title="FS Focus NOVEMBER 17 page 33" href="http://viewer.zmags.com/publication/2d7a2a66?page=33"> PEOPLE banks protect themselves, and prevent</a> <a title="FS Focus NOVEMBER 17 page 34" href="http://viewer.zmags.com/publication/2d7a2a66?page=34"> U NFOCUSED THEY SAID IT... THE WORLD ACCORDING T</a> <a title="FS Focus NOVEMBER 17 page 35" href="http://viewer.zmags.com/publication/2d7a2a66?page=35"> </a> <a title="FS Focus NOVEMBER 17 page 36" href="http://viewer.zmags.com/publication/2d7a2a66?page=36"> £1,750 + £500 DEPOSIT CONTRIBUTION1 EX</a>