<br />
M A G A Z I N E O F<br />
APRIL 2013 | ICAEW.COM/ECONOMIA<br />
ICAEW.COM/ECONOMIA<br />
Michaels<br />
in the<br />
middle<br />
T H E Y E A R<br />
ISSUE 15 | INTELLIGENCE AND INSIGHT<br />
*<br />
DANIEL GROS<br />
DANIEL GROS<br />
THE GERMAN MODEL<br />
IAN LIVINGSTON<br />
IAN LIVINGSTON<br />
LIFE AT THE TOP<br />
ANDREW FERGUSON<br />
PRIVATE ASSISTANCE<br />
DANI RODRIK<br />
POLITICAL POWER<br />
BRIAN HODGES<br />
A HELPING HAND<br />
BDO's boss Simon Michaels on merging with<br />
PKF, competition and the mid-tier crusade<br />
PLUS: CORPORATION TAX DEBATE THE ENERGY SECTOR EASTERN EUROPE AUDIT REFORM<br />
When you qualified<br />
as an Accountant<br />
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• Our Professional Mortgage lets you borrow up to 90<a title="economia_April page 1" href="http://viewer.zmags.com/publication/616452a2?page=1"> M A G A Z I N E O F APRIL 2013 | ICAEW.CO</a>
<a title="economia_April page 2" href="http://viewer.zmags.com/publication/616452a2?page=2"> When you qualified as an Accountant you qualified</a>
<a title="economia_April page 3" href="http://viewer.zmags.com/publication/616452a2?page=3"> The Competition Commission has overstretc</a>
<a title="economia_April page 4" href="http://viewer.zmags.com/publication/616452a2?page=4"> </a>
<a title="economia_April page 5" href="http://viewer.zmags.com/publication/616452a2?page=5"> ECONOMIA Contents April 2013 COVER PHOTOGRA</a>
<a title="economia_April page 6" href="http://viewer.zmags.com/publication/616452a2?page=6"> ECONOMIA ICAEW in this issue Some of the ex</a>
<a title="economia_April page 7" href="http://viewer.zmags.com/publication/616452a2?page=7"> Grow your business to twice its size. If you’re a</a>
<a title="economia_April page 8" href="http://viewer.zmags.com/publication/616452a2?page=8"> </a>
<a title="economia_April page 9" href="http://viewer.zmags.com/publication/616452a2?page=9"> ECONOMIA Contributors EDITORIAL ADVISORY </a>
<a title="economia_April page 10" href="http://viewer.zmags.com/publication/616452a2?page=10"> In review The stories that matter most from the m</a>
<a title="economia_April page 11" href="http://viewer.zmags.com/publication/616452a2?page=11"> THE AUDIT 21.8% the percentage by whi</a>
<a title="economia_April page 12" href="http://viewer.zmags.com/publication/616452a2?page=12"> THE AUDIT Good news bad news Stockmarkets T</a>
<a title="economia_April page 13" href="http://viewer.zmags.com/publication/616452a2?page=13"> </a>
<a title="economia_April page 14" href="http://viewer.zmags.com/publication/616452a2?page=14"> THE AUDIT Talking point Will the Competition </a>
<a title="economia_April page 15" href="http://viewer.zmags.com/publication/616452a2?page=15"> www.xafinity.com e actly meeting your requiremen</a>
<a title="economia_April page 16" href="http://viewer.zmags.com/publication/616452a2?page=16"> EVENTS TO LOOK OUT FOR World Economic Forum on La</a>
<a title="economia_April page 17" href="http://viewer.zmags.com/publication/616452a2?page=17"> THE AUDIT As I see it </a>
<a title="economia_April page 18" href="http://viewer.zmags.com/publication/616452a2?page=18"> ICAEW news Volunteers needed ICAEW is looking for</a>
<a title="economia_April page 19" href="http://viewer.zmags.com/publication/616452a2?page=19"> THE AUDIT Book Review Clarity,</a>
<a title="economia_April page 20" href="http://viewer.zmags.com/publication/616452a2?page=20"> Tales from the front line Andrew Ferguson, man</a>
<a title="economia_April page 21" href="http://viewer.zmags.com/publication/616452a2?page=21"> THE AUDIT </a>
<a title="economia_April page 22" href="http://viewer.zmags.com/publication/616452a2?page=22"> 1&1 MY W A professional website made by you. Idea</a>
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<a title="economia_April page 24" href="http://viewer.zmags.com/publication/616452a2?page=24"> Michael Izza Co-operation on raising quality L </a>
<a title="economia_April page 25" href="http://viewer.zmags.com/publication/616452a2?page=25"> OPINION Email: economia@icaew.com twitter.com/eco</a>
<a title="economia_April page 26" href="http://viewer.zmags.com/publication/616452a2?page=26"> OPINION Jason Cowley There may be trouble ahead </a>
<a title="economia_April page 27" href="http://viewer.zmags.com/publication/616452a2?page=27"> Whether you consider your company fleet as a busin</a>
<a title="economia_April page 28" href="http://viewer.zmags.com/publication/616452a2?page=28"> Dambisa Moyo Demand creates the age of the super-</a>
<a title="economia_April page 29" href="http://viewer.zmags.com/publication/616452a2?page=29"> OPINION Cathy Newman It's not who gets the protes</a>
<a title="economia_April page 30" href="http://viewer.zmags.com/publication/616452a2?page=30"> Dani Rodrik The tyranny of political economy T </a>
<a title="economia_April page 31" href="http://viewer.zmags.com/publication/616452a2?page=31"> OPINION Daniel Gros Learning from Germany T </a>
<a title="economia_April page 32" href="http://viewer.zmags.com/publication/616452a2?page=32"> EUROPE LOOKS EAST It's been a long, hard road to </a>
<a title="economia_April page 33" href="http://viewer.zmags.com/publication/616452a2?page=33"> INTERNATIONAL PICTURE TO CHANGE </a>
<a title="economia_April page 34" href="http://viewer.zmags.com/publication/616452a2?page=34"> INTERNATIONAL painful economic overhau</a>
<a title="economia_April page 35" href="http://viewer.zmags.com/publication/616452a2?page=35"> More than just an account. It also adds up. </a>
<a title="economia_April page 36" href="http://viewer.zmags.com/publication/616452a2?page=36"> Peru AT A GLANCE Penelope Rance pro iles a South </a>
<a title="economia_April page 37" href="http://viewer.zmags.com/publication/616452a2?page=37"> INTERNATIONAL PHOTOGRAPHY: TOBY BINDER / ANZENBE</a>
<a title="economia_April page 38" href="http://viewer.zmags.com/publication/616452a2?page=38"> 38 </a>
<a title="economia_April page 39" href="http://viewer.zmags.com/publication/616452a2?page=39"> PROFILE I f the accountancy profe</a>
<a title="economia_April page 40" href="http://viewer.zmags.com/publication/616452a2?page=40"> the main barriers to entry and expansion into the</a>
<a title="economia_April page 41" href="http://viewer.zmags.com/publication/616452a2?page=41"> PROFILE everybody in the organisation f</a>
<a title="economia_April page 42" href="http://viewer.zmags.com/publication/616452a2?page=42"> THE TROUBLE WITH TAX 42 </a>
<a title="economia_April page 43" href="http://viewer.zmags.com/publication/616452a2?page=43"> TAX DEBATE Taxation by the will of th</a>
<a title="economia_April page 44" href="http://viewer.zmags.com/publication/616452a2?page=44"> Secondly, there is “effective avoidance” wher</a>
<a title="economia_April page 45" href="http://viewer.zmags.com/publication/616452a2?page=45"> TAX DEBATE The storm in </a>
<a title="economia_April page 46" href="http://viewer.zmags.com/publication/616452a2?page=46"> The John Madejski Centre of Reputation at Henley </a>
<a title="economia_April page 47" href="http://viewer.zmags.com/publication/616452a2?page=47"> Competitive and fair taxes are possible in</a>
<a title="economia_April page 48" href="http://viewer.zmags.com/publication/616452a2?page=48"> by the retired tax judge Sir Andrew Parks found t</a>
<a title="economia_April page 49" href="http://viewer.zmags.com/publication/616452a2?page=49"> EVERY WORD Read economia online, on your iPhone o</a>
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<a title="economia_April page 51" href="http://viewer.zmags.com/publication/616452a2?page=51"> TAX DEBATE There is little dispute about the impo</a>
<a title="economia_April page 52" href="http://viewer.zmags.com/publication/616452a2?page=52"> </a>
<a title="economia_April page 53" href="http://viewer.zmags.com/publication/616452a2?page=53"> </a>
<a title="economia_April page 54" href="http://viewer.zmags.com/publication/616452a2?page=54"> KEEPING IT CLEAN If you want to protect your own </a>
<a title="economia_April page 55" href="http://viewer.zmags.com/publication/616452a2?page=55"> CYBER SECURITY PHOTOGRAPH: CONEYL JAY. GETTY IMA</a>
<a title="economia_April page 56" href="http://viewer.zmags.com/publication/616452a2?page=56"> CYBER RESILIENCE PUSH This year's World Economics</a>
<a title="economia_April page 57" href="http://viewer.zmags.com/publication/616452a2?page=57"> CYBER SECURITY State involvement in cybercrime r</a>
<a title="economia_April page 58" href="http://viewer.zmags.com/publication/616452a2?page=58"> </a>
<a title="economia_April page 59" href="http://viewer.zmags.com/publication/616452a2?page=59"> SUPPORTED BY SMEs are being feted as powerin</a>
<a title="economia_April page 60" href="http://viewer.zmags.com/publication/616452a2?page=60"> RENEWABLE DRIVE Alkane Ener y has been generating</a>
<a title="economia_April page 61" href="http://viewer.zmags.com/publication/616452a2?page=61"> ENERGY “Typically businesses can ge</a>
<a title="economia_April page 62" href="http://viewer.zmags.com/publication/616452a2?page=62"> competitors that when one of their sectors is not</a>
<a title="economia_April page 63" href="http://viewer.zmags.com/publication/616452a2?page=63"> ENERGY </a>
<a title="economia_April page 64" href="http://viewer.zmags.com/publication/616452a2?page=64"> THE STRANGE REBIRTH OF CO-OPERATIVE BRITAIN </a>
<a title="economia_April page 65" href="http://viewer.zmags.com/publication/616452a2?page=65"> THE ECONOMIA ESSAY The co-operative sector</a>
<a title="economia_April page 66" href="http://viewer.zmags.com/publication/616452a2?page=66"> Attitudes to growth among UK businesses came unde</a>
<a title="economia_April page 67" href="http://viewer.zmags.com/publication/616452a2?page=67"> SURVEY PLE p t s esearch </a>
<a title="economia_April page 68" href="http://viewer.zmags.com/publication/616452a2?page=68"> inevitable that many sell out to foreign investor</a>
<a title="economia_April page 69" href="http://viewer.zmags.com/publication/616452a2?page=69"> SURVEY 17 - 5 22 </a>
<a title="economia_April page 70" href="http://viewer.zmags.com/publication/616452a2?page=70"> A DUTY OF CARE Brian Hodges and his wife have plo</a>
<a title="economia_April page 71" href="http://viewer.zmags.com/publication/616452a2?page=71"> PROFILE charity, operates the resource </a>
<a title="economia_April page 72" href="http://viewer.zmags.com/publication/616452a2?page=72"> FIND A CHARTERED ACCOUNTANT LAUNCHES FROM ONLINE</a>
<a title="economia_April page 73" href="http://viewer.zmags.com/publication/616452a2?page=73"> BRIEFING Briefing Promoting competition and ind</a>
<a title="economia_April page 74" href="http://viewer.zmags.com/publication/616452a2?page=74"> BRIEFING Beefing up internal audits, FPP proced</a>
<a title="economia_April page 75" href="http://viewer.zmags.com/publication/616452a2?page=75"> UPDATES anti-money laundering procedur</a>
<a title="economia_April page 76" href="http://viewer.zmags.com/publication/616452a2?page=76"> BRIEFING Lamont Pridmore: Adapting to the local</a>
<a title="economia_April page 77" href="http://viewer.zmags.com/publication/616452a2?page=77"> PRACTICE PROFILE 1979 YEAR ESTABLISHED, T</a>
<a title="economia_April page 78" href="http://viewer.zmags.com/publication/616452a2?page=78"> BRIEFING Shifting sands The progress of Eur</a>
<a title="economia_April page 79" href="http://viewer.zmags.com/publication/616452a2?page=79"> AUDIT Four irms on auditor rotation an</a>
<a title="economia_April page 80" href="http://viewer.zmags.com/publication/616452a2?page=80"> BRIEFING Restoring integrity A new ICAEW lead</a>
<a title="economia_April page 81" href="http://viewer.zmags.com/publication/616452a2?page=81"> FINANCIAL INTEGRITY </a>
<a title="economia_April page 82" href="http://viewer.zmags.com/publication/616452a2?page=82"> BRIEFING Dishonest dealings and questions over </a>
<a title="economia_April page 83" href="http://viewer.zmags.com/publication/616452a2?page=83"> DISCIPLINARIES Report listings These reports </a>
<a title="economia_April page 84" href="http://viewer.zmags.com/publication/616452a2?page=84"> Welcome to our new neighbourhood. Ho</a>
<a title="economia_April page 85" href="http://viewer.zmags.com/publication/616452a2?page=85"> Life “The play was a great success, but the audie</a>
<a title="economia_April page 86" href="http://viewer.zmags.com/publication/616452a2?page=86"> THE GREAT ESCAPE Moving out of London to live and</a>
<a title="economia_April page 87" href="http://viewer.zmags.com/publication/616452a2?page=87"> LIFE ILLUSTRATION: MATT WISNIEWSKI She had work</a>
<a title="economia_April page 88" href="http://viewer.zmags.com/publication/616452a2?page=88"> STAR BILLING It's time to take to the stage – or </a>
<a title="economia_April page 89" href="http://viewer.zmags.com/publication/616452a2?page=89"> LIFE Clockwise from right: the a</a>
<a title="economia_April page 90" href="http://viewer.zmags.com/publication/616452a2?page=90"> CAPITAL EATS Neil Davey finds that London doesn't</a>
<a title="economia_April page 91" href="http://viewer.zmags.com/publication/616452a2?page=91"> Discover the secrets to matching food and wine S</a>
<a title="economia_April page 92" href="http://viewer.zmags.com/publication/616452a2?page=92"> LIFE GOOD DAY SUNSHINE We're enco</a>
<a title="economia_April page 93" href="http://viewer.zmags.com/publication/616452a2?page=93"> LIFE SIX OF 1 </a>
<a title="economia_April page 94" href="http://viewer.zmags.com/publication/616452a2?page=94"> RECRUITMENT To advertise your vacancies please c</a>
<a title="economia_April page 95" href="http://viewer.zmags.com/publication/616452a2?page=95"> The Oxford Diploma in Financial Strategy · Build</a>
<a title="economia_April page 96" href="http://viewer.zmags.com/publication/616452a2?page=96"> To advertise within the Business Directory please</a>
<a title="economia_April page 97" href="http://viewer.zmags.com/publication/616452a2?page=97"> BUSINESS DIRECTORY Mergers & Acquisitions Je</a>
<a title="economia_April page 98" href="http://viewer.zmags.com/publication/616452a2?page=98"> LIFE LIFE AFTER WORK A RADI</a>
<a title="economia_April page 99" href="http://viewer.zmags.com/publication/616452a2?page=99"> Mastering risk – creating the future Finance Di</a>
<a title="economia_April page 100" href="http://viewer.zmags.com/publication/616452a2?page=100"> UNlOCk The pOTeNTIAl IN yOUR peOple No one speak</a>