RegulationAccounting StandardsTories offered financial literacy training by ICAEW

Tories offered financial literacy training by ICAEW

Institute treasury members offered to hold workshops for members of parliament to increase their financial literacy

The ICAEW offered the Conservatives training in financial literacy when the
party was in opposition.

Michael Izza, CEO of the ICAEW suggested the “shadow team” needed financially
literacy training, at a council meeting held earlier this week.

At the meeting a question was raised over whether the institute could do more
to “clarify” the true state of the public deficit.

Izza said that the ICAEW offered the Conservatives the opportunity to be
included in workshops, conducted by institute members, to increase its financial
literacy.

“The shadow team are not a financially literate one. We have members in the
Treasury who have offered to run workshops. Historically ministers have been
reluctant to get someone to walk them through [finances]. We are currently
trying to convince them that they need a good understanding,” Izza said.

The ICAEW said that Izza’s comments were referring to the institute’s
manifesto for the general election, in which they extended finance advisory
workshops to all the parties.

“In that manifesto, ICAEW has set out its recommendations for better
management of public finances. We called for higher standards of financial
management within the public sector and also more effective parliamentary
scrutiny of departmental budgets.

“Within this, we made an offer of support to politicians of all parties to
make ICAEW expertise and resources available to improve their skills that would
enable them to do this.”

Izza added that the ICAEW is also planning to speak to FDs in major
government departments on their future priorities over the next four weeks. The
institute hopes to launch the research on 14 June, to coincide with the
anticipated emergency Budget.

Further reading:

Accounting
convergence must not “detour”: ICAEW

Institutes
ICAEW gets tough on training

Related Articles

Treasury Select Committee report released on Making Tax Digital

Accounting Standards Treasury Select Committee report released on Making Tax Digital

11m Stephanie Wix, Writer
New Year Honours of 2017

Accounting Standards New Year Honours of 2017

11m Stephanie Wix, Writer
Record fine for Deloitte and audit partner over Aero misconduct

Accounting Standards Record fine for Deloitte and audit partner over Aero misconduct

1y Stephanie Wix, Writer
'Clear' tax avoidance guidance for advisers issued by institutes

Accounting Standards 'Clear' tax avoidance guidance for advisers issued by institutes

1y Stephanie Wix, Writer
Eight landmarks in the history of accountancy

Accounting Standards Eight landmarks in the history of accountancy

1y Acccountancy Age
Taking Stock: PwC outdoes ICAEW in the nibble stakes (steaks)

Accounting Standards Taking Stock: PwC outdoes ICAEW in the nibble stakes (steaks)

2y Taking Stock
ICAEW president: We must adapt to add to our heritage

Accounting Standards ICAEW president: We must adapt to add to our heritage

2y Richard Crump, Writer
ICAEW targets state of audit in consultation paper

Accounting Standards ICAEW targets state of audit in consultation paper

2y Fraser Simpson, Reporter