<br />
THE DEVELOPMENT ISSUE<br />
FEBRUARY 2014 | ICAEW.COM/ECONOMIA ISSUE 24 | INTELLIGENCE AND INSIGHT<br />
VATICAN FINANCES<br />
CAPACITY BUILDING<br />
ALL CHANGE FOR PE<br />
THE BLACK MARKET<br />
GEORGE OSBORNE<br />
CATHY NEWMAN<br />
JOHN FLYNN<br />
PETER MILLWARD<br />
Aiding places<br />
Justine Greening, international<br />
development secretary, on why the<br />
UK needs aid to drive trade<br />
Are your clients<br />
getting the runaround?<br />
Have them move their investments to us<br />
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the UK and 1,000 people on the ground, we're always on hand<br />
to serve your client<a title="Economia Feb 14 page 1" href="http://viewer.zmags.com/publication/6fe3992c?page=1"> THE DEVELOPMENT ISSUE FEBRUARY 2014 </a>
<a title="Economia Feb 14 page 2" href="http://viewer.zmags.com/publication/6fe3992c?page=2"> Are your clients getting the runaround? Have th</a>
<a title="Economia Feb 14 page 3" href="http://viewer.zmags.com/publication/6fe3992c?page=3"> After nearly six years of speculation and investi</a>
<a title="Economia Feb 14 page 4" href="http://viewer.zmags.com/publication/6fe3992c?page=4"> ICAEW in this issue “People coming out of univers</a>
<a title="Economia Feb 14 page 5" href="http://viewer.zmags.com/publication/6fe3992c?page=5"> LINDA NYLIND / GUARDIAN NEWS & MEDIA LTD. COVER: </a>
<a title="Economia Feb 14 page 6" href="http://viewer.zmags.com/publication/6fe3992c?page=6"> EDITORIAL ADVISORY BOARD Arthur Bailey FCA (Cha</a>
<a title="Economia Feb 14 page 7" href="http://viewer.zmags.com/publication/6fe3992c?page=7"> The new face of business. </a>
<a title="Economia Feb 14 page 8" href="http://viewer.zmags.com/publication/6fe3992c?page=8"> In review THE INTERNATIONAL PICTURE 1% </a>
<a title="Economia Feb 14 page 9" href="http://viewer.zmags.com/publication/6fe3992c?page=9"> THE AUDIT </a>
<a title="Economia Feb 14 page 10" href="http://viewer.zmags.com/publication/6fe3992c?page=10"> THE AUDIT BALFOUR BEAT</a>
<a title="Economia Feb 14 page 11" href="http://viewer.zmags.com/publication/6fe3992c?page=11"> </a>
<a title="Economia Feb 14 page 12" href="http://viewer.zmags.com/publication/6fe3992c?page=12"> The law on workplace pensions has changed. Every </a>
<a title="Economia Feb 14 page 13" href="http://viewer.zmags.com/publication/6fe3992c?page=13"> THE AUDIT As I see it Monica Parker is a directo</a>
<a title="Economia Feb 14 page 14" href="http://viewer.zmags.com/publication/6fe3992c?page=14"> THE AUDIT Book reviews Richard Cree review</a>
<a title="Economia Feb 14 page 15" href="http://viewer.zmags.com/publication/6fe3992c?page=15"> 7+(1(7+(5/$1'6 $KLJKO\FRPSHWLWLYH EXVLQHVVORFDWLR</a>
<a title="Economia Feb 14 page 16" href="http://viewer.zmags.com/publication/6fe3992c?page=16"> From the top L ate last year</a>
<a title="Economia Feb 14 page 17" href="http://viewer.zmags.com/publication/6fe3992c?page=17"> THE AUDIT ICAEW MEANS BUSINESS The head of ICAEW</a>
<a title="Economia Feb 14 page 18" href="http://viewer.zmags.com/publication/6fe3992c?page=18"> C ompanies often wrongly </a>
<a title="Economia Feb 14 page 19" href="http://viewer.zmags.com/publication/6fe3992c?page=19"> THE AUDIT </a>
<a title="Economia Feb 14 page 20" href="http://viewer.zmags.com/publication/6fe3992c?page=20"> </a>
<a title="Economia Feb 14 page 21" href="http://viewer.zmags.com/publication/6fe3992c?page=21"> THE AUDIT The graph This month the numbers show </a>
<a title="Economia Feb 14 page 22" href="http://viewer.zmags.com/publication/6fe3992c?page=22"> Michael Izza Balancing our optimism E </a>
<a title="Economia Feb 14 page 23" href="http://viewer.zmags.com/publication/6fe3992c?page=23"> OPINION TOP FIVE MOST READ STORIES</a>
<a title="Economia Feb 14 page 24" href="http://viewer.zmags.com/publication/6fe3992c?page=24"> </a>
<a title="Economia Feb 14 page 25" href="http://viewer.zmags.com/publication/6fe3992c?page=25"> OPINION Jason Cowley Eton's worth is in the qual</a>
<a title="Economia Feb 14 page 26" href="http://viewer.zmags.com/publication/6fe3992c?page=26"> Cathy Newman Hard truths are hard work I </a>
<a title="Economia Feb 14 page 27" href="http://viewer.zmags.com/publication/6fe3992c?page=27"> OPINION Arvind Subramanian Ben Bernanke's global</a>
<a title="Economia Feb 14 page 28" href="http://viewer.zmags.com/publication/6fe3992c?page=28"> Rethinking aid Justine Greening outlines how brin</a>
<a title="Economia Feb 14 page 29" href="http://viewer.zmags.com/publication/6fe3992c?page=29"> COVER STORY </a>
<a title="Economia Feb 14 page 30" href="http://viewer.zmags.com/publication/6fe3992c?page=30"> She says she has always been interested in bu</a>
<a title="Economia Feb 14 page 31" href="http://viewer.zmags.com/publication/6fe3992c?page=31"> RUSSELL WATKINS/DEPARTMENT FOR INTERNATIONAL DEVE</a>
<a title="Economia Feb 14 page 32" href="http://viewer.zmags.com/publication/6fe3992c?page=32"> 12% Up to 12% of global tobacco sales are est</a>
<a title="Economia Feb 14 page 33" href="http://viewer.zmags.com/publication/6fe3992c?page=33"> BLACK MARKET 1% to 3% of degree-verifying </a>
<a title="Economia Feb 14 page 34" href="http://viewer.zmags.com/publication/6fe3992c?page=34"> W hile the</a>
<a title="Economia Feb 14 page 35" href="http://viewer.zmags.com/publication/6fe3992c?page=35"> most counterfeited in the world, despite also bei</a>
<a title="Economia Feb 14 page 36" href="http://viewer.zmags.com/publication/6fe3992c?page=36"> “I have generated in excess of £5k i</a>
<a title="Economia Feb 14 page 37" href="http://viewer.zmags.com/publication/6fe3992c?page=37"> Steve Caine, director of fraud investigations and</a>
<a title="Economia Feb 14 page 38" href="http://viewer.zmags.com/publication/6fe3992c?page=38"> New perception In the post-crash economy, succes</a>
<a title="Economia Feb 14 page 39" href="http://viewer.zmags.com/publication/6fe3992c?page=39"> “Anyone can do financial engineering. The challen</a>
<a title="Economia Feb 14 page 40" href="http://viewer.zmags.com/publication/6fe3992c?page=40"> Ares and HIG WhiteHorse – are hungry for a slice </a>
<a title="Economia Feb 14 page 41" href="http://viewer.zmags.com/publication/6fe3992c?page=41"> “The UK is seen by investors as a stronger growth</a>
<a title="Economia Feb 14 page 42" href="http://viewer.zmags.com/publication/6fe3992c?page=42"> 42 </a>
<a title="Economia Feb 14 page 43" href="http://viewer.zmags.com/publication/6fe3992c?page=43"> FOREVER BLOWING BUBBLES As the UK housing market</a>
<a title="Economia Feb 14 page 44" href="http://viewer.zmags.com/publication/6fe3992c?page=44"> you are already close to the top of a mountain ev</a>
<a title="Economia Feb 14 page 45" href="http://viewer.zmags.com/publication/6fe3992c?page=45"> AT A GLANCE Brits have 57% of their total net wor</a>
<a title="Economia Feb 14 page 46" href="http://viewer.zmags.com/publication/6fe3992c?page=46"> Has positive discrimination reached the point whe</a>
<a title="Economia Feb 14 page 47" href="http://viewer.zmags.com/publication/6fe3992c?page=47"> DEBATE YES Mark Freebairn </a>
<a title="Economia Feb 14 page 48" href="http://viewer.zmags.com/publication/6fe3992c?page=48"> FOLLOW OUR LINE OF THINKING Tolley®Knowledge </a>
<a title="Economia Feb 14 page 49" href="http://viewer.zmags.com/publication/6fe3992c?page=49"> The arrest of a Vatican finance chief in June las</a>
<a title="Economia Feb 14 page 50" href="http://viewer.zmags.com/publication/6fe3992c?page=50"> Established in 1942 under Pope Pious XII, the IOR</a>
<a title="Economia Feb 14 page 51" href="http://viewer.zmags.com/publication/6fe3992c?page=51"> SPECIAL INVESTIGATION VATICAN BANK Nigel </a>
<a title="Economia Feb 14 page 52" href="http://viewer.zmags.com/publication/6fe3992c?page=52"> Pope Benedict's butler Paolo Gabriele was accused</a>
<a title="Economia Feb 14 page 53" href="http://viewer.zmags.com/publication/6fe3992c?page=53"> SPECIAL INVESTIGATION VATICAN BANK a risk ass</a>
<a title="Economia Feb 14 page 54" href="http://viewer.zmags.com/publication/6fe3992c?page=54"> SHOPPING AROUND We work in a global economy, and </a>
<a title="Economia Feb 14 page 55" href="http://viewer.zmags.com/publication/6fe3992c?page=55"> and said UK Trade and Investment, the government </a>
<a title="Economia Feb 14 page 56" href="http://viewer.zmags.com/publication/6fe3992c?page=56"> it can win you a positive conversation when they'</a>
<a title="Economia Feb 14 page 57" href="http://viewer.zmags.com/publication/6fe3992c?page=57"> EXPORTING ACCOUNTANCY </a>
<a title="Economia Feb 14 page 58" href="http://viewer.zmags.com/publication/6fe3992c?page=58"> Special brew The market for speciality tea has u</a>
<a title="Economia Feb 14 page 59" href="http://viewer.zmags.com/publication/6fe3992c?page=59"> poured $620m into buying Teavana that same year. </a>
<a title="Economia Feb 14 page 60" href="http://viewer.zmags.com/publication/6fe3992c?page=60"> TEA MARKET Abo</a>
<a title="Economia Feb 14 page 61" href="http://viewer.zmags.com/publication/6fe3992c?page=61"> news and views. economia online has all the news </a>
<a title="Economia Feb 14 page 62" href="http://viewer.zmags.com/publication/6fe3992c?page=62"> PAINTING A GLOBAL PICTURE Global prosperity reli</a>
<a title="Economia Feb 14 page 63" href="http://viewer.zmags.com/publication/6fe3992c?page=63"> CAPACITY BUILDING </a>
<a title="Economia Feb 14 page 64" href="http://viewer.zmags.com/publication/6fe3992c?page=64"> International Financial Reporting Standards (IFRS</a>
<a title="Economia Feb 14 page 65" href="http://viewer.zmags.com/publication/6fe3992c?page=65"> “Issues had to be tackled, including the practice</a>
<a title="Economia Feb 14 page 66" href="http://viewer.zmags.com/publication/6fe3992c?page=66"> BRITAIN FIGHTS BACK 19 GEORGE OSBORN</a>
<a title="Economia Feb 14 page 67" href="http://viewer.zmags.com/publication/6fe3992c?page=67"> THE ECONOMIA ESSAY </a>
<a title="Economia Feb 14 page 68" href="http://viewer.zmags.com/publication/6fe3992c?page=68"> ONE BRICK AT A TIME John Flynn, financial control</a>
<a title="Economia Feb 14 page 69" href="http://viewer.zmags.com/publication/6fe3992c?page=69"> PROFILE JOHN FLYNN A lthough </a>
<a title="Economia Feb 14 page 70" href="http://viewer.zmags.com/publication/6fe3992c?page=70"> </a>
<a title="Economia Feb 14 page 71" href="http://viewer.zmags.com/publication/6fe3992c?page=71"> Technical The top five Post-Christmas retail sal</a>
<a title="Economia Feb 14 page 72" href="http://viewer.zmags.com/publication/6fe3992c?page=72"> Key developments BUSINESS Broadband vouche</a>
<a title="Economia Feb 14 page 73" href="http://viewer.zmags.com/publication/6fe3992c?page=73"> TECHNICAL UPDATES loss and recogn</a>
<a title="Economia Feb 14 page 74" href="http://viewer.zmags.com/publication/6fe3992c?page=74"> Tax changes: A balancing act T</a>
<a title="Economia Feb 14 page 75" href="http://viewer.zmags.com/publication/6fe3992c?page=75"> TECHNICAL TAX UPDATE NEW TRANSFERAB</a>
<a title="Economia Feb 14 page 76" href="http://viewer.zmags.com/publication/6fe3992c?page=76"> Hard choices Public opinion is demanding an op</a>
<a title="Economia Feb 14 page 77" href="http://viewer.zmags.com/publication/6fe3992c?page=77"> TECHNICAL COMPANY TAXATION ILLUSTRATION: ARON VE</a>
<a title="Economia Feb 14 page 78" href="http://viewer.zmags.com/publication/6fe3992c?page=78"> The invisible economy Natural r</a>
<a title="Economia Feb 14 page 79" href="http://viewer.zmags.com/publication/6fe3992c?page=79"> TECHNICAL NATURAL CAPITAL ACCOUNTING </a>
<a title="Economia Feb 14 page 80" href="http://viewer.zmags.com/publication/6fe3992c?page=80"> Attracting talent The war for talent is in ful</a>
<a title="Economia Feb 14 page 81" href="http://viewer.zmags.com/publication/6fe3992c?page=81"> TECHNICAL RECRUITMENT feeling among </a>
<a title="Economia Feb 14 page 82" href="http://viewer.zmags.com/publication/6fe3992c?page=82"> Curo: With a little help from my friends Anna Ma</a>
<a title="Economia Feb 14 page 83" href="http://viewer.zmags.com/publication/6fe3992c?page=83"> TECHNICAL PRACTICE PROFILE ILLUSTRATION: ARON VE</a>
<a title="Economia Feb 14 page 84" href="http://viewer.zmags.com/publication/6fe3992c?page=84"> Exclusion, severe reprimand and a little sympathy</a>
<a title="Economia Feb 14 page 85" href="http://viewer.zmags.com/publication/6fe3992c?page=85"> TECHNICAL DISCIPLINARIES Report listings Th</a>
<a title="Economia Feb 14 page 86" href="http://viewer.zmags.com/publication/6fe3992c?page=86"> Life Pubs Going local There are few thin</a>
<a title="Economia Feb 14 page 87" href="http://viewer.zmags.com/publication/6fe3992c?page=87"> LIFE PUBS </a>
<a title="Economia Feb 14 page 88" href="http://viewer.zmags.com/publication/6fe3992c?page=88"> Y ou </a>
<a title="Economia Feb 14 page 89" href="http://viewer.zmags.com/publication/6fe3992c?page=89"> agree rent and beer prices with licensees. It wan</a>
<a title="Economia Feb 14 page 90" href="http://viewer.zmags.com/publication/6fe3992c?page=90"> “The best pubs today are far better than anything</a>
<a title="Economia Feb 14 page 91" href="http://viewer.zmags.com/publication/6fe3992c?page=91"> ALAMY, CORBIS ban,” he says. “There's been a gro</a>
<a title="Economia Feb 14 page 92" href="http://viewer.zmags.com/publication/6fe3992c?page=92"> Restaurants All alone on the most romantic day</a>
<a title="Economia Feb 14 page 93" href="http://viewer.zmags.com/publication/6fe3992c?page=93"> some serious celebrity spotting on the red carpet</a>
<a title="Economia Feb 14 page 94" href="http://viewer.zmags.com/publication/6fe3992c?page=94"> That sleeping feeling Getting good quality sle</a>
<a title="Economia Feb 14 page 95" href="http://viewer.zmags.com/publication/6fe3992c?page=95"> RECRUITMENT icaewjobs@icaew.com Experts Recrui</a>
<a title="Economia Feb 14 page 96" href="http://viewer.zmags.com/publication/6fe3992c?page=96"> DIRECTORY GOVERNANCE AND WHISTLEBLOWING </a>
<a title="Economia Feb 14 page 97" href="http://viewer.zmags.com/publication/6fe3992c?page=97"> LUCINDA RICHARDSON lucinda.richardson@progressive</a>
<a title="Economia Feb 14 page 98" href="http://viewer.zmags.com/publication/6fe3992c?page=98"> LIFE AFTER WORK </a>
<a title="Economia Feb 14 page 99" href="http://viewer.zmags.com/publication/6fe3992c?page=99"> CPD training in Financial Reporting Trust ICAEW t</a>
<a title="Economia Feb 14 page 100" href="http://viewer.zmags.com/publication/6fe3992c?page=100"> OUT OF DARKNESS COMES LIGHT T</a>