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<br /> ISSUE 11 | DECEMBER 2012 | ICAEW.COM/ECONOMIA<br /> LORD SHARMAN JACQUES DELORS JO OWEN JULIA WILSON GERALD RUSSELL<br /> SIR MICHAEL SNYDER HELENA MORRISSEY LIZ BINGHAM SIR MARTIN SORRELL<br /> THE SERIOUS FRAUD OFFICE'S NEW<br /> DIRECTOR DAVID GREEN EXPLAINS HOW<br /> HE PLANS TO REBUILD ITS REPUTATION<br /> OUT OF THE<br /> SHADOWS<br /> GLOBAL FINANCE 50 | DATA SECURITY | GOING CONCERN | ALTERNATIVE FUNDING<br /> LIFE. BALANCED.<br /> ADD LIFE TO YOUR CORPORATE FLEET<br /> The flowing beauty of the new XF Sportbrake is just part of the story. With 1,675 litres of flexible<br /> load space it's also beautifully versatile. The new XF Sportbrake features Intelligent Stop/Start<br /> technology which reduces CO2 emissions to just 135 g/km, meaning it incurs a BIK rate of just<br /> 21% and is capable of up to 55.4 mpg (combined). Coupled with improved whole-life costs* and<br /> a class leading specification<a title="economia_DEC page 1" href="http://viewer.zmags.com/publication/cd32abfc?page=1"> </a> <a title="economia_DEC page 2" href="http://viewer.zmags.com/publication/cd32abfc?page=2"> LIFE. BALANCED. </a> <a title="economia_DEC page 3" href="http://viewer.zmags.com/publication/cd32abfc?page=3"> Only investment can bring life back to th</a> <a title="economia_DEC page 4" href="http://viewer.zmags.com/publication/cd32abfc?page=4"> </a> <a title="economia_DEC page 5" href="http://viewer.zmags.com/publication/cd32abfc?page=5"> </a> <a title="economia_DEC page 6" href="http://viewer.zmags.com/publication/cd32abfc?page=6"> UNLOCK THE POTENTIAL IN YOUR PEOPLE When the next</a> <a title="economia_DEC page 7" href="http://viewer.zmags.com/publication/cd32abfc?page=7"> ECONOMIA Contents December 2012 FINN TAYLOR</a> <a title="economia_DEC page 8" href="http://viewer.zmags.com/publication/cd32abfc?page=8"> ECONOMIA ICAEW in this issue Some of the ex</a> <a title="economia_DEC page 9" href="http://viewer.zmags.com/publication/cd32abfc?page=9"> </a> <a title="economia_DEC page 10" href="http://viewer.zmags.com/publication/cd32abfc?page=10"> Automated accounts = Improved accuracy KPMG's so</a> <a title="economia_DEC page 11" href="http://viewer.zmags.com/publication/cd32abfc?page=11"> ECONOMIA Contributors EDITORIAL ADVISORY </a> <a title="economia_DEC page 12" href="http://viewer.zmags.com/publication/cd32abfc?page=12"> In review The stories that matter most from the m</a> <a title="economia_DEC page 13" href="http://viewer.zmags.com/publication/cd32abfc?page=13"> THE AUDIT £22bn The amount</a> <a title="economia_DEC page 14" href="http://viewer.zmags.com/publication/cd32abfc?page=14"> THE AUDIT Good news bad news 2013 econ</a> <a title="economia_DEC page 15" href="http://viewer.zmags.com/publication/cd32abfc?page=15"> When you qualified as an Accountant you qualified</a> <a title="economia_DEC page 16" href="http://viewer.zmags.com/publication/cd32abfc?page=16"> ICAEW news FDs' Excellence Awards A new category </a> <a title="economia_DEC page 17" href="http://viewer.zmags.com/publication/cd32abfc?page=17"> THE AUDIT THE RISE OF THE EAST The world's ec</a> <a title="economia_DEC page 18" href="http://viewer.zmags.com/publication/cd32abfc?page=18"> UK GAAP – BUT NOT AS YOU KNOW IT 29 January The A</a> <a title="economia_DEC page 19" href="http://viewer.zmags.com/publication/cd32abfc?page=19"> THE AUDIT If I ruled the world Derek Blair </a> <a title="economia_DEC page 20" href="http://viewer.zmags.com/publication/cd32abfc?page=20"> Tales from the front line Liz Bingham, managin</a> <a title="economia_DEC page 21" href="http://viewer.zmags.com/publication/cd32abfc?page=21"> THE AUDIT “I'm not a fan of quotas. We prefer to </a> <a title="economia_DEC page 22" href="http://viewer.zmags.com/publication/cd32abfc?page=22"> Michael Izza We need Europe to prosper E </a> <a title="economia_DEC page 23" href="http://viewer.zmags.com/publication/cd32abfc?page=23"> OPINION Email: economia@icaew.com twitter.com/eco</a> <a title="economia_DEC page 24" href="http://viewer.zmags.com/publication/cd32abfc?page=24"> Jacques Delors Towards greener EU pastures H </a> <a title="economia_DEC page 25" href="http://viewer.zmags.com/publication/cd32abfc?page=25"> OPINION Cathy Newman Smoke and mirrors over jobs </a> <a title="economia_DEC page 26" href="http://viewer.zmags.com/publication/cd32abfc?page=26"> economia online icaew.com/economia Exclusive onli</a> <a title="economia_DEC page 27" href="http://viewer.zmags.com/publication/cd32abfc?page=27"> OPINION Helen Lewis Cameron cheesed off with UKIP</a> <a title="economia_DEC page 28" href="http://viewer.zmags.com/publication/cd32abfc?page=28"> Jo Owen Zombie debt for a zombie economy T </a> <a title="economia_DEC page 29" href="http://viewer.zmags.com/publication/cd32abfc?page=29"> OPINION Letter from America The $6bn anticlimax </a> <a title="economia_DEC page 30" href="http://viewer.zmags.com/publication/cd32abfc?page=30"> BURIED TREASURE Around the globe the mega rich, k</a> <a title="economia_DEC page 31" href="http://viewer.zmags.com/publication/cd32abfc?page=31"> INTERNATIONAL From top: The opulen</a> <a title="economia_DEC page 32" href="http://viewer.zmags.com/publication/cd32abfc?page=32"> INTERNATIONAL where affluen</a> <a title="economia_DEC page 33" href="http://viewer.zmags.com/publication/cd32abfc?page=33"> More than just a holiday destination with pristin</a> <a title="economia_DEC page 34" href="http://viewer.zmags.com/publication/cd32abfc?page=34"> Malta Malta AT A GLANCE This tiny island has been</a> <a title="economia_DEC page 35" href="http://viewer.zmags.com/publication/cd32abfc?page=35"> INTERNATIONAL KRIS MICALLEF HISTORY It has seve</a> <a title="economia_DEC page 36" href="http://viewer.zmags.com/publication/cd32abfc?page=36"> HARD MAN WITH A HARD JOB Nick Kochan interviews D</a> <a title="economia_DEC page 37" href="http://viewer.zmags.com/publication/cd32abfc?page=37"> PROFILE </a> <a title="economia_DEC page 38" href="http://viewer.zmags.com/publication/cd32abfc?page=38"> “I want to make it so that you don't want to be i</a> <a title="economia_DEC page 39" href="http://viewer.zmags.com/publication/cd32abfc?page=39"> PROFILE CAREER HIGHL</a> <a title="economia_DEC page 40" href="http://viewer.zmags.com/publication/cd32abfc?page=40"> THE SEARCH IS ON FOR A FINANCE TEAM… Can y</a> <a title="economia_DEC page 41" href="http://viewer.zmags.com/publication/cd32abfc?page=41"> GLOBAL FINANCE 50 2012 EDITION GLOBAL FINANCE</a> <a title="economia_DEC page 42" href="http://viewer.zmags.com/publication/cd32abfc?page=42"> 1 ANGELA MERKEL German chancellor She may not be</a> <a title="economia_DEC page 43" href="http://viewer.zmags.com/publication/cd32abfc?page=43"> GLOBAL FINANCE 50 4 THE PIIGS (STRUGGLIN</a> <a title="economia_DEC page 44" href="http://viewer.zmags.com/publication/cd32abfc?page=44"> 8 ANTHONY JENKINS CEO, Barclays The new boss of </a> <a title="economia_DEC page 45" href="http://viewer.zmags.com/publication/cd32abfc?page=45"> GLOBAL FINANCE 50 13. MARIO DRAGHI Pres</a> <a title="economia_DEC page 46" href="http://viewer.zmags.com/publication/cd32abfc?page=46"> 21. JIM O'NEILL Chairman, Goldman Sachs Asset Man</a> <a title="economia_DEC page 47" href="http://viewer.zmags.com/publication/cd32abfc?page=47"> GLOBAL FINANCE 50 </a> <a title="economia_DEC page 48" href="http://viewer.zmags.com/publication/cd32abfc?page=48"> 40. SHEIK KHALIFA AL THANI Chair, Qatar's Soverei</a> <a title="economia_DEC page 49" href="http://viewer.zmags.com/publication/cd32abfc?page=49"> GLOBAL FINANCE 50 46. ALEXANDRE ANTONIO</a> <a title="economia_DEC page 50" href="http://viewer.zmags.com/publication/cd32abfc?page=50"> </a> <a title="economia_DEC page 51" href="http://viewer.zmags.com/publication/cd32abfc?page=51"> REGIONAL ROUND-UP COMPANY PROFILE </a> <a title="economia_DEC page 52" href="http://viewer.zmags.com/publication/cd32abfc?page=52"> “I t's extremely dif icult to surv</a> <a title="economia_DEC page 53" href="http://viewer.zmags.com/publication/cd32abfc?page=53"> COMPANY PROFILE Alderley's r</a> <a title="economia_DEC page 54" href="http://viewer.zmags.com/publication/cd32abfc?page=54"> 321 staff service the oil, gas and petrochemical </a> <a title="economia_DEC page 55" href="http://viewer.zmags.com/publication/cd32abfc?page=55"> COMPANY PROFILE </a> <a title="economia_DEC page 56" href="http://viewer.zmags.com/publication/cd32abfc?page=56"> TINA HILLIER 56 </a> <a title="economia_DEC page 57" href="http://viewer.zmags.com/publication/cd32abfc?page=57"> AUDIT Concern about how the inancial cris</a> <a title="economia_DEC page 58" href="http://viewer.zmags.com/publication/cd32abfc?page=58"> Nick Winters, RSM Tenon “As auditors, we are </a> <a title="economia_DEC page 59" href="http://viewer.zmags.com/publication/cd32abfc?page=59"> AUDIT Fiona Hotson Moore, economi</a> <a title="economia_DEC page 60" href="http://viewer.zmags.com/publication/cd32abfc?page=60"> The f lipside of banking With his foc</a> <a title="economia_DEC page 61" href="http://viewer.zmags.com/publication/cd32abfc?page=61"> BANKING WHAT'S SO DIFFERENT ABOUT METRO BANK? Fr</a> <a title="economia_DEC page 62" href="http://viewer.zmags.com/publication/cd32abfc?page=62"> BY DUANE NASIS PORTRAITS GET IN, MAKE GOOD, GET </a> <a title="economia_DEC page 63" href="http://viewer.zmags.com/publication/cd32abfc?page=63"> PRIVATE EQUITY Jonathan Rhodes is group</a> <a title="economia_DEC page 64" href="http://viewer.zmags.com/publication/cd32abfc?page=64"> </a> <a title="economia_DEC page 65" href="http://viewer.zmags.com/publication/cd32abfc?page=65"> PRIVATE EQUITY </a> <a title="economia_DEC page 66" href="http://viewer.zmags.com/publication/cd32abfc?page=66"> Ian Findlay is inance director at Of ice, the sho</a> <a title="economia_DEC page 67" href="http://viewer.zmags.com/publication/cd32abfc?page=67"> PRIVATE EQUITY </a> <a title="economia_DEC page 68" href="http://viewer.zmags.com/publication/cd32abfc?page=68"> FEATURE </a> <a title="economia_DEC page 69" href="http://viewer.zmags.com/publication/cd32abfc?page=69"> Peer-to-peer lending is in its infancy, b</a> <a title="economia_DEC page 70" href="http://viewer.zmags.com/publication/cd32abfc?page=70"> “As an industry we stand or fall by how effective</a> <a title="economia_DEC page 71" href="http://viewer.zmags.com/publication/cd32abfc?page=71"> ALTERNATIVE FINANCE CORPORATE FINANCE FACULTY</a> <a title="economia_DEC page 72" href="http://viewer.zmags.com/publication/cd32abfc?page=72"> PROFILE I t may have been the swinging S</a> <a title="economia_DEC page 73" href="http://viewer.zmags.com/publication/cd32abfc?page=73"> PROFILE of what happens in, and how to </a> <a title="economia_DEC page 74" href="http://viewer.zmags.com/publication/cd32abfc?page=74"> EVERY WORD Read economia online, on your iPhone o</a> <a title="economia_DEC page 75" href="http://viewer.zmags.com/publication/cd32abfc?page=75"> BRIEFING Briefing Multi-employer pensions and d</a> <a title="economia_DEC page 76" href="http://viewer.zmags.com/publication/cd32abfc?page=76"> BRIEFING Auto enrolment, revaluation deferred a</a> <a title="economia_DEC page 77" href="http://viewer.zmags.com/publication/cd32abfc?page=77"> UPDATES employer and employee contribu</a> <a title="economia_DEC page 78" href="http://viewer.zmags.com/publication/cd32abfc?page=78"> BRIEFING Protect your information Do you know</a> <a title="economia_DEC page 79" href="http://viewer.zmags.com/publication/cd32abfc?page=79"> DATA SECURITY ARON VELLEKOOP LEON example, rega</a> <a title="economia_DEC page 80" href="http://viewer.zmags.com/publication/cd32abfc?page=80"> BRIEFING A qualification</a> <a title="economia_DEC page 81" href="http://viewer.zmags.com/publication/cd32abfc?page=81"> TRAINING CASE STUDY: MID-TIER FIRM ARON VELL</a> <a title="economia_DEC page 82" href="http://viewer.zmags.com/publication/cd32abfc?page=82"> BRIEFING Getting back on the books Even the h</a> <a title="economia_DEC page 83" href="http://viewer.zmags.com/publication/cd32abfc?page=83"> CAREERS SUPPORT CASE STUDY: CHRIS WELLS ARON V</a> <a title="economia_DEC page 84" href="http://viewer.zmags.com/publication/cd32abfc?page=84"> BRIEFING A severe reprimand, CPD failure and im</a> <a title="economia_DEC page 85" href="http://viewer.zmags.com/publication/cd32abfc?page=85"> DISCIPLINARIES Report listings The reports </a> <a title="economia_DEC page 86" href="http://viewer.zmags.com/publication/cd32abfc?page=86"> Fast-track your accounting career with the BSc Ap</a> <a title="economia_DEC page 87" href="http://viewer.zmags.com/publication/cd32abfc?page=87"> LIFE Life “He who seeks rest finds boredom. 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