Technology

Accounting / Companies House to reduce costs by 3.5% despite increase in workload

Companies House has outlined plans to reduce costs of baseline activities by 3.5%, despite having an increased workload, and will focus investment on improvements to digital services, expecting to have digital filing options for 99% of accounts by March 2018

Audit / Internal auditors critical to cyber security response

The Chartered Institute of Internal Auditors (CIIA) says a spate of recent high-profile data breaches and the introduction of new regulations mean internal audit has a critical role in providing advice and assurance around cyber security

Accounting / Companies House plans Easter downtime

Most of Companies House’s online services will not be available over the Easter holiday period due to planned maintenance

Insight / Companies ill-prepared for outsourcing failures

Over the last three years, one in three UK companies have experienced major disruption or complete failure due to the actions of outsourced providers, according to a survey from Deloitte, which warns that the majority are unprepared to deal with failures by third parties

Insight / Pension pots available in one location from 2019

The Association of British Insurers (ABI) has built an online Pension Dashboard prototype which allows individuals to view their various pension pots in one place, with government aiming to make the service available to consumers by 2019

Insight / Deloitte US scoops IT cloud consulting business

Deloitte in the US has acquired substantially all of the assets of Day1 Solutions, a cloud consulting firm, after announcing a commitment to add 3,000 high-tech engineering jobs and open new cloud studios in the US over the next year

Insight / MPs challenge Chancellor over cyber security risks

Andrew Tyrie, the chair of the Treasury committee, has challenged the Chancellor about arrangements to ensure cybersecurity in the financial services sector, which he describes as ‘opaque’ and ‘a headless framework’, warning these are potentially inadequate in tackling the risks facing the banking system

Insight / Warning on cyber threat from financial ‘trojans’

The annual assessment of the biggest cyber threats to UK businesses has been released, the first to be produced jointly by the National Crime Agency (NCA) and the newly formed National Cyber Security Centre (NCSC), which has dealt with 188 high-level attacks in the UK in its first three months

Insight / PwC builds alliance with Scottish hi-tech incubator

PwC has announced an alliance and investment with CodeBase, to help accelerate its growth as Europe’s largest incubator, as part of the firm’s commitment to supporting startup technology companies in Scotland

Insight / PwC in Blockchain prototype for London insurance market

PwC has created a working Blockchain prototype for the London Market Target Operating Model (TOM) Innovation Exchange

Audit / Audit chiefs fight back against cyber attacks

Growing numbers of chief audit executives are introducing security operation centres in the face of the growing risks from cyber incidents and data breaches, according to research conducted by the Institute of Internal Auditors’ (IIA) and Crowe Horwath, which suggests a new focus on taking the offensive against potential attacks

Audit / Blockchain carries ‘risk and promise’, says payments regulator

Central banks and financial institutions must carefully consider the potential savings and efficiencies of using Blockchain and other distributed ledger technology along with its risks in payments, clearing and settlement, warns global payments regulator, Bank for International Settlements 

Audit / Blockchain: game changer for audit?

Given its dubious black economy origins, initially there was widespread distrust of Blockchain among audit and accounting circles. But it could change audit radically if it is adopted by larger businesses and auditors are forced to review their technical capability, reports Calum Fuller

Insight / UK business fraud losses hit £125bn

Annual UK business losses from fraud and error hit a record £125bn as fraudsters increasingly take advantage of technology and corporate inaction

Insight / Banks signal move to Blockchain adoption by 2020

More than 80% of bankers anticipate the industry adoption of Blockchain by the end of the decade, as study from consultancy firm Infosys and its technology arm Infosys Finacle has found
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