Welcome to our podcast series where we explore how reform can create ‘deserved confidence’ in corporate reporting, audit and stewardship. We will lift the lid on some of the challenges around corporate reporting, the effectiveness of audit and the business ecosystem.
By talking to regulators and tapping into the personal experiences of senior board members and subject matter experts, we will explore today's biggest challenges and the reforms needed to build 'deserved confidence'.
Sign up here and select ‘Audit insights' for latest insights and updates on newly released episodes.
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Ep. 29 - The New Payment Standard ISO 20022
Join Shen Lee, Director at KPMG's Corporate Treasury Advisory Practice, as he hosts a conversation on the new ISO 20022 payment standard. For the first time, KPMG’s podcast series dives into the world of corporate treasury, joined by experts Phoenix Green from KPMG UK and Benjamin Gayet from KPMG Switzerland. Together, they explore why ISO 20022 has become a hot topic in 2024, its impact on corporate treasurers, and the critical deadlines for adopting this global standard. Discover the benefits, challenges, and steps your business should take to ensure a smooth transition in this insightful discussion.
Find out more in our recent article here.
Date: 12 November 2024, Listen now (14m 07s)
Ep. 28 - Navigating IFRS 18 - the strategic steps ahead
How will IFRS 18 reshape financial reporting? In this episode Greg Stinson, Head of Accounting Advisory Services, KPMG UK, and Aishat Akinwale, Corporate Reporting Expert, KPMG UK discuss the implications of the newly issued IFRS 18 standard.
They cover key changes including a more structured income statement, management-defined performance measures (MPMs), and enhanced aggregation and disaggregation requirements. The conversation highlights challenges and considerations for companies preparing for this new standard, providing essential insights.
Click here to watch our latest 'Accounting and Reporting Update'.
Date: 10 July 2024, Listen now (21m 04s)
Ep. 27 - The impact of AI on financial reporting in Audit with MindBridge
What roles do people, processes, technology, and data play in shaping the future of financial reporting in audit?
In our latest podcast, our host for the episode, Matt Campbell (CTO, Audit, KPMG in the UK) was joined by Rachel Kirkham (Vice President, AI and Product at MindBridge) to discuss the how AI can enhance the accuracy of financial reporting and audit quality, trusted technology, how to get the maximum return on investment from using AI, and how leading companies in this space are getting it right.
Date: 10 June 2024, Listen now (11m 49s)
Ep. 26 - The latest developments for ESG reporting in the US
In our recent podcast, we were joined by Hilary Eastman, Partner and Head of ESG reporting at KPMG UK and Anita Chan, Audit Partner at KPMG US as they dive into the latest developments within ESG reporting in the US, the SEC rules, what companies need to be considering and how these updates impact UK companies.
Date: 29 January 2024, Listen now (13m 38s)
Ep. 25 - The findings from the annual corporate reporting review with the FRC
Greg Stinson, Head and Partner of Accounting Advisory Services (AAS), our host for this episode is joined by Manisha Santchurn who leads our Corporate Reporting team here at KPMG and Geoff LeGouais from the Financial Reporting Council (FRC). They discuss the key themes and findings from the annual corporate reporting review, the latest news on the audit and corporate governance reform and some recent changes and delays.
To find out more, watch our recent AAS accounting and reporting update here.
Date: 28 November 2023, Listen now (18m 56s)
Ep. 24 - The relevance of AI in Audit
In this podcast, Matthew Campbell CTO of Audit at KPMG UK and Mark Wallington, Audit Tech Partner, KPMG UK discuss the relevance of AI in audit.
Listen in as they discuss the rise of AI over the years, it’s capabilities today, and how we apply and use AI within our audits. Mark and Matthew also discuss challenges faced along the way and the key questions you should be asking your auditor.
Date: 19 December 2023, Listen now (10m 13s)
Ep. 23 - The proxy season takeaways
In this podcast, we were joined by Sophie Gauthier-Beaudoin, Head of Investor Engagement as we delve into a topic that holds significant weight in the world of corporate governance, the review of the 2023 proxy season.
Find out the key themes and insights from this year's AGM season in the UK, the growing focus from investors on engaging with companies on ESG issues, and the tension between investors voting to evidence stewardship vs creating real value.
Date: 6 December 2023, Listen now (10m 22s)
Ep. 22 - Audit & Corporate Governance reforms: Update on recent announcements – what should companies do next?
Last month, the Government announced that it had withdrawn the proposed changes to Companies Act which introduced new requirements. In addition, the King’s Speech in November did not include primary legislation needed to set up the Audit, Reporting, and Governance Authority (ARGA), and shortly after, the FRC released a policy update on the proposed changes to the UK Corporate Governance Code.
In our latest podcast, we are joined by Greg Stinson, Head and Partner of Accounting Advisory Services, and Manisha Santchurn, who specialises in advising our clients on the quality of their Corporate Reporting, to share what we are hearing from the different stakeholders and what these latest developments mean for companies.
Date: 29 November 2023, Listen now (14m 12s)
Ep. 21 - The latest topical accounting and reporting issues
In this podcast, KPMG's Accounting Advisory Services experts joined together in the first ever live panel discussion broadcasted from the KPMG studio to reflect on the latest topical accounting and reporting issues.
The session focussed on the following topic areas:
- The status of the regulatory landscape, including updates from the Department of Business and Trade (DBT), the FRC, and the IASB.
- ESG reporting and assurance developments, including the status of the ISSB's work.
- The M&A market and what this means for reporting and accounting - both pre and post deal.
Date: 10 July 2023, Listen now (59m 45s)
Ep. 20 - The 'S' in ESG - a renewed focus
With social issues being pushed up the agenda for UK reporters, stakeholders are now wanting to understand more about how social factors are critical and material to reporters, their business, and their operations.
In this episode, we are joined by Tatiana Hardy-Stotz, Senior Manager of ESG Reporting to talk about why social issues are increasingly becoming an area of focus, where UK companies can start to prepare for the tidal wave of regulations at UK, EU and International level, and the tips and advice for clients when responding to these regulatory requirements.
Date: 31 May 2023, Listen now (11m 58s)
Ep. 19 - Accounting and reporting priorities - a forward look with the FRC
At our recent webinar, we found that 26% of our attendees see Corporate Governance and Audit Reform and the changes being proposed to UK GAAP as their primary work-related challenge over the next 12 months.
In this episode our host, Greg Stinson, UK Head of Accounting Advisory Services, is joined by Jenny Carter, Director of Accounting and Reporting Policy, from the Financial Reporting Council (FRC). Topics discussed include the evolving status of the Audit and Corporate Governance Reform, the changes recently announced to UK GAAP, and the proposed effective dates and what to expect from the FRC going forward.
Click here to watch the full webinar from 23 March 2023.
Date: April 17 2023, Listen now (19m 17s)
Ep. 18 - Internal controls - reviewing, reporting and assurance
Whether you are still in the 'wait and see' mode, or have started commencing programmes to implement or improve your controls framework, there are still some unknowns on how businesses will need to respond to some of the anticipated UK Corporate Governance Reforms.
In this episode, Richard Andrews, Partner for our Financial Services Consulting, and Irene Sellars, Partner and Head of Service Assurance Reporting will talk through regulation, controls, and assurance, and why well implemented internal controls programmes should be at the top of your agenda to keep ahead of the curve. Listen as our experts delve into the scope of the FRC changes, where businesses should be focusing on to build out their control frameworks, industry examples, why businesses should be thinking about this now, and what this means for boards and investors.
Date: March 8 2023, Listen now (24m 22s)
Ep. 17 - CSRD: Is your organisation prepared for a new level of ESG reporting?
The EU’s new Corporate Sustainability Reporting Directive is also known as the CSRD is transforming ESG reporting. Almost 50,000 companies are subject to mandatory sustainability reporting. Even companies with longstanding experience in sustainability reporting will likely require advancements in their ESG data collection, processing, and reporting systems. The clock is ticking for CSRD reporting and companies should ask whether they are ready.
Date: February 8 2023, Listen now (25m 35s)
Ep. 16 - Is Transparency on Track?
In this episode, Alexia Perversi, Senior Manager of ESG Reporting, our host for this episode is joined by Tatiana Hardy-Stotz, Senior Manager of ESG Reporting to talk through some of the headlines uncovered as part of KPMG's UK Sustainability Survey report titled, Is Transparency on Track?
With an increasing volume, breadth and depth of ESG disclosures and data being prepared and reported year-on-year means that ESG reporting can no longer be a once-a-year 'tick-box' exercise. Listen as our experts showcase a few of the headline statistics we uncovered as part of our review of the annual reports and ESG reports from 100 of the UK's most valuable private and listed companies.
Read the full report here.
Date: January 16 2023, Listen now (19m 22s)
Ep. 15 - Reflections of COP27 and the future of ESG reporting and assurance
In this episode, we are joined by George Richards, our Partner and Head of ESG reporting and assurance, and Sahil Malhotra, our Senior Manager for ESG reporting where they share their views on all things COP27. With an increased focus on reporting frameworks, ESG reporting readiness, and a renewed focus on assurance, how can companies report in a meaningful way?
Listen as our experts explore how companies can report in a meaningful way, what has happened since COP26, and more importantly, what we can expect to come in the future.
Date: December 5 2022, Listen now (35m 31s)
Ep. 14 - Artificial Intelligence (AI) – what does this mean for audit and how can businesses leverage technology?
What does the future of audit look like? How are businesses using cutting-edge technology, automation and AI for audit and assurance engagements to manage risk and obtain assurance?
In this episode we are joined by our Chief Technology Officer, Matt Campbell, who answers these questions and shares his views as to how technology can achieve an audit that delivers quality, provide fresh insights, and can ultimately help to shape the future of your business.
Date: October 21 2022, Listen now (14m 24s)
Ep. 13 - People, Planet and Profit: Building trust and integrity in the boardroom
In this episode we are joined by Oonagh Harpur to explore culture – how it can be measured, what it means for boards and the implications for corporate reporting and assurance. Oonagh is our Independent Non-Executive Director and has over 30 years’ experience in the boardroom including 14 years in CEO roles in the private, public and third sectors and she openly shares her views and experiences on why culture is important and its relation to reputation, strategy and ESG.
Date: July 12 2022, Listen now (29m 10s)
Ep. 12 - In conversation with Jon Thompson from the FRC
In this episode, Sir Jon Thompson, Chief Executive of the Financial Reporting Council (FRC) shares his views on the progress made on the Department for Business, Energy and Industrial Strategy (BEIS) consultation on “Restoring trust in audit and corporate governance”. Launched in March 2021, this consultation was seen by many as a once-in-a-generation opportunity to reform the corporate regulatory landscape and received thousands of responses. Listen as Sir Jon discusses the latest developments since our first BEIS conversation last year and shares his insights on how the FRC is evolving, market competition, investor engagement and also the attractiveness of the UK as a place to do business and the attractiveness of audit profession in particular.
We also cover the recommendations on what companies should be focusing on in this reporting season, whether they should start making changes now or wait for further guidance.
Date: June 27 2022, Listen now (29m 34s)
Ep. 11 - Ukraine crisis: what global geopolitical volatility means for business
As the Russian-Ukraine war unfolds, companies have had to move quickly to ensure the safety of their workers while girding themselves for the economic impacts and operational disruption to come. In this episode we are joined by Derek Leatherdale, Managing Director at GRI Strategies Ltd, to help explore the key areas boards need to consider whether that be re-evaluating their businesses in the region or managing the new risks faced by a global economy already struggling with inflation and supply chain disruption.
Date: March 25 2022, Listen now (40m 53s)
Ep. 10 - How can corporates address climate risks and exposures? - Part 2
In part 2 of our episode on how corporates can address climate risks and exposures, we continue our discussion from part 1 with Simon Henry, a Non-Executive Director, and Simon Virley, our Vice Chair and Head of Energy and Natural Resources at KPMG in the UK. Our guests provide details on the climate reporting landscape and what good practice looks like in terms of reporting requirements. We also discuss the role investors can play to engage on this important topic and what questions Board members should be asking of management to address the climate risk agenda.
Date: 11 January 2022, Listen now (24m 21s)
Ep. 9 - How can corporates address climate risks and exposures? - Part 1
In part 1 of our podcast episode on how corporates can address climate risks and exposures, we are joined by Simon Henry, a Non-Executive Director, and Simon Virley, our Vice Chair and Head of Energy and Natural Resources at KPMG in the UK. In this episode, our guests examine the progress made during COP26 and provide insight on some of the notable successes and setbacks. With 90% of the world now signed up to net zero, we discuss the challenges facing all organisations and what key actions business leaders should be taking to address this. In part 2, we delve into a deeper discussion around the reporting landscape, industry examples of what good practice looks like, the role investors can play to engage on this important topic and what questions Board members should be asking of management.
Date: 5 January 2022, Listen now (25m 59s)
Ep. 8 - Corporate governance: Are UK practices as tight and transparent as they should be?
Our KPMG host Michelle Hinchliffe is joined by David Styles, Director of Corporate Governance and Stewardship at the Financial Reporting Council (FRC) and Peter Swabey, Policy and Research Director at the Chartered Governance Institute UK & Ireland (CGIUKI). David and Peter share their insights into the latest updates on corporate governance reporting, best practices, and share helpful tips and advice on areas where improvement is needed.
We also cover the introduction of ARGA, the next corporate governance challenges coming over the horizon and the questions Board members should be asking of management.
Date: 14 December 2021, Listen now (33m 55s)
Ep. 7 - Geraldine Lawlor and Jonathan Evans, KPMG - What should a Director be doing to reduce fraud risks?
On our most recent episode, we were joined by Geraldine Lawlor, Global Head of Financial Crime and Jonathan Evans, the Chair of our Public Interest Committee and former Director General of MI5 to talk about financial crime and cyber risk. With developments in technology, preventing and detecting financial crime is rapidly evolving to be one of the biggest challenges facing organisations. In the episode, we explore lessons learnt, best practices and what questions Non-Executive Directors should be asking of management.
Date: 18 November 2021, Listen now (32m 46s)
Ep. 6 - Dylan Whitfield, HSBC - A forensic analyst's view on audit and corporate governance reform
In this episode, KPMG host Michelle Hinchliffe is joined by Dylan Whitfield, Head of Forensic Accounting within Global Research at HSBC. Dylan shares his insights about what investors think of the BEIS consultation on Restoring trust in audit and corporate governance, ahead of the consultation response deadline of 8th July 2021.
Listen as Dylan covers many of the recommendations set out in the BEIS consultation, including strengthening internal controls, introducing an Audit and Assurance Policy and also the role of the regulator, and how the package of reforms can help build confidence in the UK market. Dylan’s overriding view is that the proposals will represent a significant change for the better for the UK’s auditing, reporting and governance regime, and highlights that the relationship between the auditor and the shareholder will be one of the keys to success in the future.
Date: 1 July 2021, Listen now (30m 12s)
Ep.5 - Clare Payn, LGIM - Investor Priorities and ESG
In this episode we talk to Clare Payn, Senior Global ESG and Diversity Manager at LGIM, to discuss investor priorities and the role that institutional investors play in driving enhancements in corporate reporting.
Date: 22 June 2021, Listen now (32m 7s)
Ep. 4 - Alun Bowen, Severstal - Audit and Assurance Policy
In this episode we talk to Alun Bowen, Audit Committee Chair at Severstal, to discuss the Audit and Assurance Policy which was initially recommended by Sir Donald Brydon and also features in the BEIS consultation on Restoring trust in audit and corporate governance.
Date: 8 June 2021, Listen now (30m 31s)
Ep. 3 - Charles Tilley, IIRC – Business Resilience
In this episode we talk to Charles Tilley, CEO of the International Integrated Reporting Council (IIRC), about the introduction of the new Resilience Statement – one of the proposals in the recent BEIS consultation on Restoring trust in audit and corporate governance.
Date: 25 May 2021, Listen now (33m 25s)
Ep. 2 - Jock Lennox, ACCIF - Strengthening the UK’s internal controls framework
In this episode, KPMG host Michelle Hinchliffe is joined by Jock Lennox, Chair of the Audit Committee Chair Independent Forum (ACCIF), to discuss the Government’s proposals to strengthen internal controls at UK companies.
Date: 14 April 2021, Listen now (35m 43s).
Ep. 1 - Sir Jon Thompson, FRC - Will reform drive change in the corporate reporting ecosystem?
In our first episode, KPMG host Michelle Hinchliffe is joined by Sir Jon Thompson, Chief Executive of the FRC, to talk about the Business, Energy and Industrial Strategy (BEIS) consultation to restore trust in audit and corporate governance, which was launched on 18 March 2021.
Date: 19 March 2021, Listen now (36m 34s).
Phil is a senior client partner working cross-sector with our largest international clients. Phil has held leadership positions across several areas of KPMG’s business and has an audit background. He joined KPMG in 1991, becoming a partner in 2004. He has over 25 years’ financial sector and insurance experience, working with global financial services clients in both the insurance and asset management industry. For the past 10 years he has led the audits of our largest international insurance, financial services and consumer markets groups. He also has extensive transactions experience including demutualisations, UK and US listings, mergers and acquisitions, debt and equity issues.
