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ISSUE 11 | DECEMBER 2012 | ICAEW.COM/ECONOMIA
LORD SHARMAN JACQUES DELORS JO OWEN JULIA WILSON GERALD RUSSELL
SIR MICHAEL SNYDER HELENA MORRISSEY LIZ BINGHAM SIR MARTIN SORRELL
THE SERIOUS FRAUD OFFICE'S NEW
DIRECTOR DAVID GREEN EXPLAINS HOW
HE PLANS TO REBUILD ITS REPUTATION
OUT OF THE
SHADOWS
GLOBAL FINANCE 50 | DATA SECURITY | GOING CONCERN | ALTERNATIVE FUNDING
LIFE. BALANCED.
ADD LIFE TO YOUR CORPORATE FLEET
The flowing beauty of the new XF Sportbrake is just part of the story. With 1,675 litres of flexible
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21% and is capable of up to 55.4 mpg (combined). Coupled with improved whole-life costs* and
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LIFE. BALANCED.
Only investment can bring life back to th
UNLOCK THE POTENTIAL IN YOUR PEOPLE When the next
ECONOMIA Contents December 2012 FINN TAYLOR
ECONOMIA ICAEW in this issue Some of the ex
Automated accounts = Improved accuracy KPMG's so
ECONOMIA Contributors EDITORIAL ADVISORY
In review The stories that matter most from the m
THE AUDIT £22bn The amount
THE AUDIT Good news bad news 2013 econ
When you qualified as an Accountant you qualified
ICAEW news FDs' Excellence Awards A new category
THE AUDIT THE RISE OF THE EAST The world's ec
UK GAAP – BUT NOT AS YOU KNOW IT 29 January The A
THE AUDIT If I ruled the world Derek Blair
Tales from the front line Liz Bingham, managin
THE AUDIT “I'm not a fan of quotas. We prefer to
Michael Izza We need Europe to prosper E
OPINION Email: economia@icaew.com twitter.com/eco
Jacques Delors Towards greener EU pastures H
OPINION Cathy Newman Smoke and mirrors over jobs
economia online icaew.com/economia Exclusive onli
OPINION Helen Lewis Cameron cheesed off with UKIP
Jo Owen Zombie debt for a zombie economy T
OPINION Letter from America The $6bn anticlimax
BURIED TREASURE Around the globe the mega rich, k
INTERNATIONAL From top: The opulen
INTERNATIONAL where affluen
More than just a holiday destination with pristin
Malta Malta AT A GLANCE This tiny island has been
INTERNATIONAL KRIS MICALLEF HISTORY It has seve
HARD MAN WITH A HARD JOB Nick Kochan interviews D
PROFILE
“I want to make it so that you don't want to be i
PROFILE CAREER HIGHL
THE SEARCH IS ON FOR A FINANCE TEAM… Can y
GLOBAL FINANCE 50 2012 EDITION GLOBAL FINANCE
1 ANGELA MERKEL German chancellor She may not be
GLOBAL FINANCE 50 4 THE PIIGS (STRUGGLIN
8 ANTHONY JENKINS CEO, Barclays The new boss of
GLOBAL FINANCE 50 13. MARIO DRAGHI Pres
21. JIM O'NEILL Chairman, Goldman Sachs Asset Man
GLOBAL FINANCE 50
40. SHEIK KHALIFA AL THANI Chair, Qatar's Soverei
GLOBAL FINANCE 50 46. ALEXANDRE ANTONIO
REGIONAL ROUND-UP COMPANY PROFILE
“I t's extremely dif icult to surv
COMPANY PROFILE Alderley's r
321 staff service the oil, gas and petrochemical
COMPANY PROFILE
TINA HILLIER 56
AUDIT Concern about how the inancial cris
Nick Winters, RSM Tenon “As auditors, we are
AUDIT Fiona Hotson Moore, economi
The f lipside of banking With his foc
BANKING WHAT'S SO DIFFERENT ABOUT METRO BANK? Fr
BY DUANE NASIS PORTRAITS GET IN, MAKE GOOD, GET
PRIVATE EQUITY Jonathan Rhodes is group
PRIVATE EQUITY
Ian Findlay is inance director at Of ice, the sho
PRIVATE EQUITY
FEATURE
Peer-to-peer lending is in its infancy, b
“As an industry we stand or fall by how effective
ALTERNATIVE FINANCE CORPORATE FINANCE FACULTY
PROFILE I t may have been the swinging S
PROFILE of what happens in, and how to
EVERY WORD Read economia online, on your iPhone o
BRIEFING Briefing Multi-employer pensions and d
BRIEFING Auto enrolment, revaluation deferred a
UPDATES employer and employee contribu
BRIEFING Protect your information Do you know
DATA SECURITY ARON VELLEKOOP LEON example, rega
BRIEFING A qualification
TRAINING CASE STUDY: MID-TIER FIRM ARON VELL
BRIEFING Getting back on the books Even the h
CAREERS SUPPORT CASE STUDY: CHRIS WELLS ARON V
BRIEFING A severe reprimand, CPD failure and im
DISCIPLINARIES Report listings The reports
Fast-track your accounting career with the BSc Ap
LIFE Life “He who seeks rest finds boredom. He who
SHARING THE WEALTH In an uncertain economic clima
CLARA TERNE/AGENCYRUSH.COM game. Online stockbro
SOME LIKE IT HOT Desperate for some winter sun, b
LIFE Main picture: Galapagos Islands.
IN SEASON The pick of London restaurants serving
The Savoy Cocktail Book First published in 1930,
ON THE ROCKS The occasional swift one after work,
LIFE 3 4 1 2 5 SIX OF
BUSINESS DIRECTORY To advertise within the Busin
BUSINESS DIRECTORY jordanna.denny@progressivecp.
LIFE RICHARD ANSETT LIFE AFTER WORK DRIVEN BY G
THE NEW UK GAAP PREPARING FOR CHANGE A new UK