Major business 'influence' gives insight into accountancy industry developments

Published: 4 June 2007 at 14:58

The 2007 Annual Lecture of the European Business Association Cambridge (EBAC), held on Anglia Ruskin University’s Cambridge Campus, for the first time brought together students of the Ashcroft International Business School (AIBS), academic staff and high profile corporate guests to meet and interact with one of the City’s most high-calibre business personalities.

Paul Boyle, Chief Executive of the Financial Reporting Council (FRC), the UK’s most important independent regulator, presented the talk entitled, ‘Why should you believe what you read in company reports?’  He is regarded as one of the leaders who will most influence industry and business in 2007 and currently listed on the ‘Top 25 Power List’ in the UK (Accountancy Age).  

He is also noted for starting the debate on audit competition by commissioning the Oxera Report on which the Big Four accounting firms – PricewaterhouseCoopers, KPMG, Ernst & Young and Deloitte – disagreed bitterly.  Being regarded as one of the top issues of the day, he provided a copy of the much-discussed report and introduced the FRC’s strategic framework, its current priorities and the key international developments affecting corporate reporting and governance.  

He commented:

“The FRC’s research indicates that confidence in corporate reporting and governance in the UK remains high. We believe that the professionalism of accountants and the effectiveness of the regularity framework are important contributors to this confidence.”

“Accountancy remains an attractive career for talented young people and I am delighted that EBAC has been able to play a role increasing the awareness among its members of this opportunity.”

Professor Martin Reynolds, Dean of AIBS said:

“We were delighted to have Paul Boyle to present this annual lecture at our University. This kind of event is a first class example of what a leading practice-based business school should be doing. Our students are to be congratulated on organising the event and we are most grateful for the support and help of our sponsor Reed Accountancy.”

Norman Müller, EBAC’s Chairman notes:

“The outstanding success of this year’s annual lecture is the ‘bridge’ that EBAC has created by bringing together students from Anglia Ruskin with the industry’s leading firms and their regulator, as well as members of academia. Setting up a relationship between AIBS and the FRC can be regarded as a vital step towards further active collaboration between AIBS and EBAC’s corporate partners.”

Since its outset in 1999, the student-run association attracts globally leading corporations of various sectors for the recruitment of the business school’s strongest graduates.

In October, EBAC will commence a new term involving a variety of events with partner companies – including the Association of Chartered Certified Accountants, Ernst & Young, KPMG, the Bank of England, UBS, Lloyds of London and the United Kingdom Parliament – who are active sponsors of EBAC’s activities.