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<br /> Making America great<br /> again It was a core<br /> campaign pledge, but<br /> can Trump deliver?<br /> IFRS 16 and retail National accounts As the<br /> How the new rules on debate on austerity fires<br /> accounting for leases will up, we ask whether we're<br /> affect the high street measuring the right stuff<br /> JULY/AUGUST 2017 ICAEW.COM/ECONOMIA<br /> Career ladders What do<br /> you need to do to make<br /> partner, and are the rules<br /> the same for all firms?<br /> The last cut is the deepest<br /> Daniel Ross on health finance<br /> Daniel Ross, CEO and FD<br /> of the Royal College of<br /> Pathologists, explains how<br /> he is helping its members<br /> save more lives with less<br /> in an age of austerity<br /> KEEP<br /> YOUR TAX<br /> KNOWLEDGE<br /> ON TARGET<br /> RELX (UK) Limited, trading as LexisNexis®. Registered office 1-3 Strand<a title="Economia JULY/AUGUST 17 page 1" href="http://viewer.zmags.com/publication/367aaae9?page=1"> Making America great again It was a core camp</a> <a title="Economia JULY/AUGUST 17 page 2" href="http://viewer.zmags.com/publication/367aaae9?page=2"> KEEP YOUR TAX KNOWLEDGE ON TARGET </a> <a title="Economia JULY/AUGUST 17 page 3" href="http://viewer.zmags.com/publication/367aaae9?page=3"> ARTIFICIAL SKILLS GAP ICAEW's annual EU lecture h</a> <a title="Economia JULY/AUGUST 17 page 4" href="http://viewer.zmags.com/publication/367aaae9?page=4"> All-New Renault KOLEOS Crossover by Renault </a> <a title="Economia JULY/AUGUST 17 page 5" href="http://viewer.zmags.com/publication/367aaae9?page=5"> Signature Nav dCi 130 are: Urban 52.3 (5.4); Extr</a> <a title="Economia JULY/AUGUST 17 page 6" href="http://viewer.zmags.com/publication/367aaae9?page=6"> Highlights 10 THE AUDIT 10 In case you missed it</a> <a title="Economia JULY/AUGUST 17 page 7" href="http://viewer.zmags.com/publication/367aaae9?page=7"> CONTENTS 32 FEATURES 36 Daniel Ross 40 Investme</a> <a title="Economia JULY/AUGUST 17 page 8" href="http://viewer.zmags.com/publication/367aaae9?page=8"> economia is published by Progressive Content 71-7</a> <a title="Economia JULY/AUGUST 17 page 9" href="http://viewer.zmags.com/publication/367aaae9?page=9"> The Mitsubishi L200 Series 5 Titan is now more af</a> <a title="Economia JULY/AUGUST 17 page 10" href="http://viewer.zmags.com/publication/367aaae9?page=10"> Take a dip We look at how the news stories have d</a> <a title="Economia JULY/AUGUST 17 page 11" href="http://viewer.zmags.com/publication/367aaae9?page=11"> March March saw the launch of a new global firm,</a> <a title="Economia JULY/AUGUST 17 page 12" href="http://viewer.zmags.com/publication/367aaae9?page=12"> Debate: VALDIS DOMBROVSKIS, vice-president of th</a> <a title="Economia JULY/AUGUST 17 page 13" href="http://viewer.zmags.com/publication/367aaae9?page=13"> GEORGE OSBORNE, former chancellor, speaking to th</a> <a title="Economia JULY/AUGUST 17 page 14" href="http://viewer.zmags.com/publication/367aaae9?page=14"> V90 Cross Country D4 AWD, Metallic Paint, Persona</a> <a title="Economia JULY/AUGUST 17 page 15" href="http://viewer.zmags.com/publication/367aaae9?page=15"> Claire Georghiades on how she has shaped her care</a> <a title="Economia JULY/AUGUST 17 page 16" href="http://viewer.zmags.com/publication/367aaae9?page=16"> 16 </a> <a title="Economia JULY/AUGUST 17 page 17" href="http://viewer.zmags.com/publication/367aaae9?page=17"> THE AUDIT I was at university durin</a> <a title="Economia JULY/AUGUST 17 page 18" href="http://viewer.zmags.com/publication/367aaae9?page=18"> THE AUDIT economia reviews... </a> <a title="Economia JULY/AUGUST 17 page 19" href="http://viewer.zmags.com/publication/367aaae9?page=19"> Boosting financial intelligence with cognitive co</a> <a title="Economia JULY/AUGUST 17 page 20" href="http://viewer.zmags.com/publication/367aaae9?page=20"> 42% of millennials limit their mobile transa</a> <a title="Economia JULY/AUGUST 17 page 21" href="http://viewer.zmags.com/publication/367aaae9?page=21"> PHOTOGRAPHY BY DAVID BEBBER ICAEW president Nick</a> <a title="Economia JULY/AUGUST 17 page 22" href="http://viewer.zmags.com/publication/367aaae9?page=22"> </a> <a title="Economia JULY/AUGUST 17 page 23" href="http://viewer.zmags.com/publication/367aaae9?page=23"> Michael Izza Hard figures have been noticeably ab</a> <a title="Economia JULY/AUGUST 17 page 24" href="http://viewer.zmags.com/publication/367aaae9?page=24"> EYEBROW SPONSORED FEATURE </a> <a title="Economia JULY/AUGUST 17 page 25" href="http://viewer.zmags.com/publication/367aaae9?page=25"> P eople are “weary of the</a> <a title="Economia JULY/AUGUST 17 page 26" href="http://viewer.zmags.com/publication/367aaae9?page=26"> Jo Owen If you're conducting furtive conference c</a> <a title="Economia JULY/AUGUST 17 page 27" href="http://viewer.zmags.com/publication/367aaae9?page=27"> Letter from India Ram Iyer captures how India's r</a> <a title="Economia JULY/AUGUST 17 page 28" href="http://viewer.zmags.com/publication/367aaae9?page=28"> Partner up: Why tech companies and accountants sh</a> <a title="Economia JULY/AUGUST 17 page 29" href="http://viewer.zmags.com/publication/367aaae9?page=29"> is incredibly important. It allows them to remain</a> <a title="Economia JULY/AUGUST 17 page 30" href="http://viewer.zmags.com/publication/367aaae9?page=30"> From the Institute: support for legal services li</a> <a title="Economia JULY/AUGUST 17 page 31" href="http://viewer.zmags.com/publication/367aaae9?page=31"> Brexit I read with interest how difficult it is g</a> <a title="Economia JULY/AUGUST 17 page 32" href="http://viewer.zmags.com/publication/367aaae9?page=32"> MAKING AMERICA GREAT AGAIN </a> <a title="Economia JULY/AUGUST 17 page 33" href="http://viewer.zmags.com/publication/367aaae9?page=33"> P resident Trump came into office </a> <a title="Economia JULY/AUGUST 17 page 34" href="http://viewer.zmags.com/publication/367aaae9?page=34"> But it is difficult to “The trade war with</a> <a title="Economia JULY/AUGUST 17 page 35" href="http://viewer.zmags.com/publication/367aaae9?page=35"> months has been pronouncements in relation to imm</a> <a title="Economia JULY/AUGUST 17 page 36" href="http://viewer.zmags.com/publication/367aaae9?page=36"> Behind the scenes Daniel Ross, chief executive an</a> <a title="Economia JULY/AUGUST 17 page 37" href="http://viewer.zmags.com/publication/367aaae9?page=37"> DANIEL ROSS pathology related. In the UK, 900</a> <a title="Economia JULY/AUGUST 17 page 38" href="http://viewer.zmags.com/publication/367aaae9?page=38"> private sector businesses and in the charity sect</a> <a title="Economia JULY/AUGUST 17 page 39" href="http://viewer.zmags.com/publication/367aaae9?page=39"> longer than they “hoped and wanted”. Snap general</a> <a title="Economia JULY/AUGUST 17 page 40" href="http://viewer.zmags.com/publication/367aaae9?page=40"> STANDING STILL Focusing on the short-term and bui</a> <a title="Economia JULY/AUGUST 17 page 41" href="http://viewer.zmags.com/publication/367aaae9?page=41"> INVESTMENT “The challenge for t</a> <a title="Economia JULY/AUGUST 17 page 42" href="http://viewer.zmags.com/publication/367aaae9?page=42"> INVESTMENT PRICE PRESSURES One </a> <a title="Economia JULY/AUGUST 17 page 43" href="http://viewer.zmags.com/publication/367aaae9?page=43"> Change is too valuable an opportunity to miss. S</a> <a title="Economia JULY/AUGUST 17 page 44" href="http://viewer.zmags.com/publication/367aaae9?page=44"> INVESTMENT </a> <a title="Economia JULY/AUGUST 17 page 45" href="http://viewer.zmags.com/publication/367aaae9?page=45"> Central banks bump politics… for the time being </a> <a title="Economia JULY/AUGUST 17 page 46" href="http://viewer.zmags.com/publication/367aaae9?page=46"> The retail sector is shaping up for some radical </a> <a title="Economia JULY/AUGUST 17 page 47" href="http://viewer.zmags.com/publication/367aaae9?page=47"> I ntrodu</a> <a title="Economia JULY/AUGUST 17 page 48" href="http://viewer.zmags.com/publication/367aaae9?page=48"> Implementation is proving tough. Retailers d</a> <a title="Economia JULY/AUGUST 17 page 49" href="http://viewer.zmags.com/publication/367aaae9?page=49"> IFRS 16 question is,</a> <a title="Economia JULY/AUGUST 17 page 50" href="http://viewer.zmags.com/publication/367aaae9?page=50"> Virtual Conference: IFRS 16 Leases JOINT ICAEW A</a> <a title="Economia JULY/AUGUST 17 page 51" href="http://viewer.zmags.com/publication/367aaae9?page=51"> A DAY IN THE LIFE Monday Tuesday </a> <a title="Economia JULY/AUGUST 17 page 52" href="http://viewer.zmags.com/publication/367aaae9?page=52"> Lynn Gibson runs an award-winning practice specia</a> <a title="Economia JULY/AUGUST 17 page 53" href="http://viewer.zmags.com/publication/367aaae9?page=53"> ECONOMIA JULY/AUGUST 2017 A DAY IN THE LIFE </a> <a title="Economia JULY/AUGUST 17 page 54" href="http://viewer.zmags.com/publication/367aaae9?page=54"> A DAY IN THE LIFE </a> <a title="Economia JULY/AUGUST 17 page 55" href="http://viewer.zmags.com/publication/367aaae9?page=55"> Next issue September 2017 Look east She j</a> <a title="Economia JULY/AUGUST 17 page 56" href="http://viewer.zmags.com/publication/367aaae9?page=56"> 4.3% The early 1990s recessio</a> <a title="Economia JULY/AUGUST 17 page 57" href="http://viewer.zmags.com/publication/367aaae9?page=57"> NATIONAL ACCOUNTING 274sectors will be covered</a> <a title="Economia JULY/AUGUST 17 page 58" href="http://viewer.zmags.com/publication/367aaae9?page=58"> 2014 saw trade and construction lose their status</a> <a title="Economia JULY/AUGUST 17 page 59" href="http://viewer.zmags.com/publication/367aaae9?page=59"> NATIONAL ACCOUNTING 80% of overall ou</a> <a title="Economia JULY/AUGUST 17 page 60" href="http://viewer.zmags.com/publication/367aaae9?page=60"> @selenagomez UNDER THE INFLUENCE @pointles</a> <a title="Economia JULY/AUGUST 17 page 61" href="http://viewer.zmags.com/publication/367aaae9?page=61"> @gigihadid B logs and</a> <a title="Economia JULY/AUGUST 17 page 62" 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