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  • Writer's pictureCPAA

Meet the speaker: Julia Penny

The CPAA works with a range of industry leading experts to deliver the best CPD programme possible for members. The sessions give you access to exclusive insights, enables you to draw from their specialist expertise, and benefit from their extensive accountancy backgrounds.


To understand why these individuals are in such a good position to share their wisdom, we are beginning a ‘meet the speaker’ series, where you get to know more about those delivering the webinar and seminar programme.


Our webinar series continues today with a session run by Julia Penny. If you have already registered for the session, Julia will welcome you during the live webinar – but if you are not attending today and would like to hear what Julia has to say, the webinar will be available on CPAA Zone.


What topic/topics will I cover in the webinar?

During this session, we will be looking at onboarding and offboarding clients, including legal and professional requirements such as anti-money laundering and professional enquiry letters. We will also be looking at avoiding disputes and complaints.


What key elements will you learn from the webinar?

It is vital to be clear with your clients about what you will do for them, how much you will charge and what they must do. You need to be careful about the various pieces of legislation that provide consumer protection where your clients are individuals rather than businesses. And you can combine the processes that you must undertake, such as anti-money laundering, to help you understand your client better and deliver a good services.

Why is it worth taking part in webinars and other CPD activities?

Any professional is only of value to a client if they remain up to date with requirements and with good practice. Webinars provide an easy way to understand what the issues might be and allow you to identify if you have any need for further training or changes in how you do your work. All professional accountants have a duty to provide appropriate advice to their clients and CPD helps to ensure that you are always in a position to do this.


What’s my background and expertise?

I am a Chartered Accountant, with over 30 years of experience. Soon after qualifying, I moved into a training position, initially teaching students and later moving into CPD training and technical roles. My specialisms are auditing, financial reporting and anti-money laundering.


I have worked for diverse organisations including Wolters Kluwer, Wilmington plc, Chantrey Vellacott and Baker Tilly (now RSM). I later became chair of the ICAEW Technical Advisory Committee and a member of both the Technical Strategy and Financial Reporting Faculty Boards. I’ve been a Council member since 2013 and an ICAEW Board member since 2017.


What professional topics am I interested in at the moment?

The Economic and Corporate Transparency Act is keeping me busy at the moment, as it will have far-reaching changes, albeit some will come in gradually over the next 2-3 years. I am also working on audit and ethical  issues, such as the FRC’s new Ethical Standard and the IESBA revised ethical code.


How can you keep up with industry issues?

Keep up with anything from the CPAA. Sign up to the various notification services, like Companies House notifications on developments in ECCTA. Read newsletters from your professional body and read industry publications such as AccountingWeb, Accountancy Daily or whatever else you might have available to see what changes are happening.


What do I enjoy about training and coaching others?

It seems incredible but I have been doing this for over 30 years! I love getting into the technical detail of an issue and trying to work out both how you will apply it in practice, but also how I can explain it simply so someone who doesn’t enjoy doing all the background reading can understand what they need to do.


How do I approach my own professional development?

Endless reading, lots of webinars, lots of talking with others about developments and what we think of them. Things are often not black and white so exchanging views can be really helpful.


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