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Ernst & Young UK - Financial Controllers - Ernst & Young - United Kingdom

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Financial Controller Network

The Financial controller’s role has never been more challenging, with a changing regulatory environment and economic instability bringing added pressures and responsibilities. We understand that keeping up with technical and strategic issues can be difficult, so we created the Financial controllers network to help. Led by Philip Young, Partner, the network delivers a programme that includes:
  • technical workshops
  • dinners centred around topical issues
  • a quarterly bulletin of viewpoints and technical updates
  • networking opportunities.

To find out more, please e-mail us at Contact Us Financial Controller Network or call Sara Kennaugh on +44 [0]20 7951 3283.

Thought leadership

Financial Reporting Outlook – Navigating through uncertain times.
Financial reporters face substantial change and challenges as new financial reporting standards come into force and international regulatory and reporting regimes continue to undergo reform in the wake of the financial crisis. This report captures the key themes and findings from Ernst & Young’s Financial Reporting Outlook (FRO) 2011 conference held in London in November and a series of Technical update seminars held across the UK & Ireland in the autumn of 2011. It draws on real-time polls taken among participants at all these events — around 600 senior business and finance leaders from 20 countries who attended the FRO 2011 conference and some 1,000 finance specialists, including finance directors, attending the Technical updates.

Eurozone Forecast Winter 2011
The debt crisis still not at an end, pressures are building in a number of countries. The October 2011 deal tried to address three aspects of the Eurozone crisis, but did not go far enough to ensure a permanent resolution. Our baseline forecast shows that the Eurozone economy will probably fall back into recession in Q4 2011 and Q1 2012. If restructuring of Greek debt occurs in an “orderly” fashion, moderate growth should resume toward the end of next year, rising to 1.5%-2% in 2013-15, after just 0.2% for 2012. The unemployment rate is not expected to fall below 10% until 2015.

T Magazine – Issue 6
In this issue of T Magazine we examine current best practice in global compliance and reporting (GCR) and explore ways in which companies are strengthening their compliance and reporting as part of broader finance transformation efforts. At a time when companies are facing an uncertain tax policy environment and a continuing need to maximize efficiency, GCR is a vital topic for discussion – not just in the tax function, but among the entire executive team.

ITEM Club Winter 2011-12 forecast
In its Winter 3-year forecast, the ITEM Club says that global uncertainty, and in particular the ongoing crisis in the Eurozone, has put the UK economy on hold. ITEM believes the UK is currently in a technical recession, and even if the Eurozone crisis is resolved promptly, it doesn't foresee the UK starting to recover until the autumn, when CPI inflation falls back to the 2% target. But unemployment will then be heading towards a peak of 3 million next year, hampering a recovery in consumer spending. In this precarious economic environment, ITEM says the only hope is that UK companies can boost sales to the new fast-growing economies – but they must also ensure they can deal with the inevitable shocks, as well as adapt to new situations and opportunities.

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