Technology

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

Insight / FTSE 100 companies fail to recognise risk of cyber threats

Only 5% of FTSE 100 companies have a director with specialist technology or cyber security experience, despite the fact that 87% recognise cyber threats as a principal risk in their disclosure reporting, according to research by Deloitte

Tax / Government approach to cyber security ‘dysfunctional’

The government’s approach to handling public sector data breaches is ‘inconsistent and dysfunctional’ and it should do more to consolidate an ‘alphabet soup’ of agencies involved in the fight against cybercrime, according to a report from the public accounts committee (PAC)

Audit / FRC calls for effective use of data analytics in audit

UK audit firms are at the forefront of developing and using data analytic techniques which have the potential to improve audit quality, but need to adopt a more structured approach to deployment to ensure they are effective, according to a review carried out by the Financial Reporting Council (FRC)

Insight / £168m support for carbon capture storage ‘not value for money’

Attempts by the Department for Business, Energy and Industrial Strategy (BEIS) to start the adoption of carbon capture storage (CCS) have been unsuccessful, and the £168m spent on support for companies to adopt the technology has not been value for money, according to the National Audit Office (NAO)

Insight / CABA helps ICAEW members discover career adaptability

CABA has launched an online career adaptability tool for ICAEW members and their families, to show users how capable they are when adapting and managing change occurring in modern working life

Insight / Barclays launches mobile app lending service for SMEs

Barclays has launched a mobile business lending service to provide instant loans via a mobile app to businesses after research has revealed an economic opportunity to release £34bn of growth from SMEs by 2021
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