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Kevin Egan
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Head of Audit Services
Dublin
Tel: +353 1 792 6069

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All industries

Our annual Business Leaders' Conference for all industries took place on Monday, 7 November.

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PwC hosts Annual Business Leaders’ Conference

PwC hosts its annual Business Leaders’ Conference attended by some 800 business executives – taking place today Monday, 7 November and Tuesday, 8 November 2011. Keynote speakers today are Hamish Talyor, Company Innovator (Former Head of Brand Management, British Airways, Former CEO of Sainsburys Bank and Former CEO of Eurostar ) and Jim Power, Economist.

Addressing the audience, Hamish Taylor said:

"If you want a breakthrough, you must look outside your current environment. Innovation requires you to do something different to the past and to your competitors. Therefore, we need to look to new sources of learning." Hamish explained how BA had done this by using a yacht designer to find breakthroughs in aircraft interior design and Disney to assist with queueing at the airport. Hamish also encouraged business leaders to ensure that the customer is at the heart of all innovation work by improving both the way we collect customer insight and also how we turn these insights into a "clear and simple customer promise based on the benefit to the customer. This promise then forms the anchor for all of your activities."

Speaking on the Outlook for the Irish economy, Jim Power said:

"The external outlook remains extremely uncertain, with the latest chaotic situation in Greece posing a whole new element of risk for the future of the euro zone. This raises the imperative for Ireland to accelerate rather than relax the three pronged approach to get the public finances in order, restore competitiveness and recreate a functioning banking system. Despite the claims by some vested interests, fiscal austerity is working and Minister Michael Noonan should press ahead with the process. There is no choice other than to recreate a functioning and efficient economy."

Kevin Egan, PwC’s Assurance Leader, added:

"PwC research indicates that, notwithstanding the current difficult economic environment, Irish CEOs are just as optimistic about their own businesses as their global counterparts. Of course, exporters and foreign investors will be well represented among this group, but it is also clear that domestic Irish businesses are using innovation across the value chain to reshape their business models for the ‘new normal' conditions of reduced demand, changed consumer behaviour and greater competition. "Our conference today is designed to help business leaders to consider how the principles of innovation can be best applied to their own organisations."

ENDS

About PwC
The firms of the PwC network provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 163,000 people in 151 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. For more information see www.pwc.com.

“PwC” is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.

Financial services

On Tuesday, 8 November our Business Leaders's Conference for financial services took place in the Four Seasons Hotel.

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PwC hosts annual Business Leaders' Financial Services Conference today

Business Leaders' Conference

PwC hosts its annual Business Leaders Financial Services conference today attended by some 500 people. The key note speakers are Jim Power , economist and Aidan Brady, CEO, Citigroup Ireland. Topics covered were the state of corporate reporting; the outlook for financial services in Ireland, an economic outlook and regulatory, accounting and technical updates on insurance, banking and asset management matters.

Opening the conference, Kevin Egan, PwC’s Assurance Leader, said:

"PwC research indicates that, notwithstanding the current difficult economic environment, Irish CEOs are as optimistic about their own businesses as their global counterparts. Of course, exporters and foreign investors will be well represented among this group, but it is also clear that domestic Irish businesses are using innovation across the value chain to reshape their business models for the ‘new normal' conditions of reduced demand, changed consumer behaviour and greater competition.

“Our conference today is designed to help business leaders to consider how the principles of innovation can be best applied to their own organisations."

Speaking on the Outlook for the Irish economy, Jim Power said:

"The external outlook remains extremely uncertain, with the latest chaotic situation in Greece posing a whole new element of risk for the future of the euro zone. This raises the imperative for Ireland to accelerate rather than relax the three pronged approach to get the public finances in order, restore competitiveness and recreate a functioning banking system. Despite the claims by some vested interests, fiscal austerity is working and Minister Michael Noonan should press ahead with the process. There is no choice other than to recreate a functioning and efficient economy."

ENDS

About PwC
The firms of the PwC network provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 163,000 people in 151 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. For more information see www.pwc.com.

“PwC” is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.

 

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All industries


Global Entertainment and Media Outlook: 2011-2015
The 12th annual edition of our Global Entertainment & Media Outlook, analyses 13 major industry segments: internet access and Internet advertising (both wired and mobile), television subscriptions and license fees, television advertising, recorded music, filmed entertainment, video games, consumer magazine and newspaper publishing, radio, out-of-home advertising, consumer and educational book publishing and business-to-business publishing.


September 2011
 
 

Technologyforecast: Transforming collaboration with social tools
In the latest issue of the Technologyforecast, we examine social technologies as the solution to electronic communications overload. The publication considers how social technologies can help eliminate communication chaos and instead help companies share knowledge more effectively. It also looks at how social technologies can dramatically impact the way people communicate and share information with each other. We also review the CIO's role in developing a social enterprise strategy and achieving the right balance around investment in this area.


August 2011
 

Manufacturing excellence: Achieving excellence in production and supply
This is the third paper in our 'manufacturing excellence' series, which looks at some of the key strategic issues facing companies with manufacturing operations. This report takes a look at how companies are engaging and connecting better with customers, suppliers and the world around them to potentially drive greater productivity and supply chain resilience. We have identified five key areas which we believe present opportunities for manufacturing companies.


August 2011

Bending the cost curve: Emerging international best practices
This publication documents the second series of four conferences that brings together the world's leading healthcare experts. The document explores areas such as 'improving hospital efficiency', 'moving towards precision medicine' and 'regulation of quality' through the use of case studies.


August 2011

Stepping up: The challenges for finance in the public sector
The role and leadership of the finance function in government and the public sector is of critical importance. Now is the time for finance to step up and take a leading role in addressing the public expenditure crisis. This report examines the trends, issues and the changing environment faced by Finance Directors across the public sector, how this differs from the private sector and how this has changed over the past three years. While this research is based on the UK, the findings will be of interest and relevance to the Irish marketplace.


June 2011

Pick n mix: Meeting the demands of the new multi-channel shopper
Increased access to information and a broader set of offers mean consumers can now pick and choose how they research, buy and receive purchases to suit their individual needs. We’re seeing new themes emerge in the way consumers shop that will have profound consequences for retailers and consumer goods companies.


April 2011
 

Renewable deals report 2010
Our renewables report reviews global deal activity in both the clean technology and renewable energy (biofuels, biomass, geothermal, hydro, marine, solar and wind) sectors in 2010. The analysis includes companies developing energy efficient clean technology products for renewable energy infrastructure, manufacturers of equipment for the renewable energy sector and the acquisition of operating projects involved in the production of renewable energy. Overall the sector reports a busy year albeit at smaller deal values. This publication also takes a look at expected deal activity in 2011.


March 2011
 

Making money from social media
Why should you care about social media? Your customers are gathering there. Conversations about your business are happening - with or without you. Decisions to choose you are made based on opinions on social media platforms. It's the world's largest focus group. It can be the most effective way to reach your customers.


February 2011
 

Pharma 2020: Supplying the future - Which path will you take?
Our Pharma 2020 series examines the changes likely to impact the sector over the next decade, with this most recent publication focusing on the importance of supply chains. We believe that few if any pharma companies have supply chains capable of meeting tomorrow's needs. In this report, we outline how we expect supply chains to change and what this means for companies operating in the sector.


February 2011
 

Emerging trends in real estate® Europe 2011
Working with the Urban Land Institute (ULI), this report, now in its eighth year, looks at the outlook for European real estate investment and development trends, real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues. The report the views of more than 600 senior industry influencers—investors, developers, property companies, lenders, brokers, and consultants.


January 2011
 

Financial Services


Foregin Account Tax Compliance Act update
On 14 July 2011, the Internal Revenue Service (IRS) issued Notice 2011-53, which provides a timeline for Foreign Financial Institutions (FFIs) and US withholding agents to implement the various provisions under the Foreign Account Tax Compliance Act 2009, which was enacted in the Hiring Incentives to Restore Employment Act of 2010.


July 2011

Regulatory times: PwC Ireland asset management regulatory news
Our quarterly newsletter reviews both local and global regulatory developments impacting the Irish funds industry. We update you on the consultation period for Alternative Investment Fund Managers Directive (AIFM) level II measures, UCITS V, finalised KIID guidance, proposed UCITS III restrictions, competition for UCITS from Asia Region Funds Passport, the impact of Dodd Frank on non US fund managers and proposed new directives on short selling and OTC derivatives.


July 2011

Asset management news: Supporting the creation of value
In this edition of our quarterly global newsletter, we share our views on how managers might wish to optimise their cost bases in the context of faint economic growth constraining financial market returns. There are a number of ways in which this can be done. We also look at how hedge fund managers can enhance their operational infrastructures in reponse to pressure from investors and regulators. Finally, investors and other stakeholders now view value as being about more than portfolio performance. We have clear views about how asset managers can create this value.  


June 2011
 

Basel III and beyond
Basel III was developed by the Basel Committee on Banking Supervision in response to deficiencies revealed by the global financial crisis, and represents the biggest regulatory change that the banking industry has seen in decades. The new accord strengthens bank capital requirements and introduces new regulatory requirements on bank liquidity and leverage. Its consequences will run far and deep. This report considers the practical actions that banks should be taking and gives detailed guidance on the systems and controls changes that banks will need to address.


June 2011
 

Keeping you informed: UCITS distribution trends
This is our third report on the distribution of UCITS funds. This year's report is an analysis of the UCITS distribution trends over the last five years, between 2006 and 2010. The first section gives an overview of the size and growth of the UCITS funds industry. The following sections discuss the UCITS distribution trends on a global basis and subsequently, as one of the main gateways for UCITS funds, the Irish UCITS distribution trends.


June 2011

Infrastructure: From cost to benefit hedge funds 2.0
The publication looks at preparing the next generation of hedge funds for growth. At a time when hedge fund investors, legislators and regulators are seeking improved governance, controls and transparency, strong infrastructure is critical. These demands are raising the bar, and having the right people, repeatable processes and scalable technology has become more important than ever. With investor appetite for hedge fund strategies increasing, high-quality infrastructure will benefit managers by preparing them for the next stage in their growth.


June 2011

What the future holds: Insurance 2020
All insurance sectors have experienced dramatic change over the past decade. This will continue and even accelerate over the coming decade. Not all of these trends may be favorable for insurers. Those who can anticipate and plan for these changes will take advantage of longer-term opportunities.


June 2011

Insurance banana skins 2011: The CSFI survey of the risks facing insurers
In conjunction with the Centre for the Study of Financial Innovation (CSFI) we examine the top risks currently facing insurers and how companies are addressing them. We explore three key areas: current risks, future trends, and how prepared those companies are to respond to their risk environment. It shows how the life, non-life, reinsurance and London Market sectors differ in outlook and explores a number of the key risk concerns at the top of the boardroom agenda.


June 2011
 

Banking in 2050: How the financial crisis has affected the long term outlook for the global banking industry
The accelerating shift in economic power from the developed to emerging economies is dramatically changing the banking industry across the world. Leaders of financial institutions need to take advantage of the growth opportunities this change is creating. This report provides projections of the long-term trends of the banking sector based on the underlying macro-economic trends, from now until 2050 for the world’s leading economies.


May 2011
 

Getting set for Solvency II
The European insurance industry is bracing itself for the most significant change to the regulatory and supervisory environment in living memory. Every insurance and reinsurance company operating in the European Economic Area (EEA) will be affected and there will also be implications for companies outside of the EEA. Getting set for Solvency II outlines the findings of a survey looking at European insurers’ readiness for implementation. The findings are based on the responses of 115 companies to an online survey covering a range of topics including ambitions for Solvency II, critical success factors and progress against objectives. The survey aims to provide a benchmark against which insurers can compare their progress.


November 2010
 

General


Hourglass 23: Making the most of your people
In this, the latest edition of our people-focused newsletter, we explore absenteeism, teambuilding, the future for the HR generalist role, parental leave, corporate social responsibility and IT security.


October 2011
 

Resilient growth: Making the most of opportunities away from home
To re-ignite growth in their businesses, CEO's of companies that aspire to be global leaders have their sights set on fast-growing emerging markets, which are expected to grow twice as fast as developed countries. This report by PwC identifies the risks that companies should look out for at each stage of the market lifecycle in order to craft their growth strategies in these emerging markets.


September 2011

Investing in Ireland: Issue 10, September 2011
As the 10th edition of our foreign direct investment newsletter goes to print, Ireland is gaining increased international recognition for progress made in addressing its economic challenges and stimulating an export-led economic recovery. In particular, the easing of Ireland’s IMF terms in July should better position us to manage our debt challenges, while an investment of €1.6 billion in Bank of Ireland highlights returning international investor confidence.


September 2011
 

Tax facts 2011
Tax Facts is a practical guide to the Irish tax system. It provides a summary of tax rates across all the key areas of taxation in Ireland.


June 2011

Drifting or driving? Finance effectiveness benchmark study 2011
Our third annual finance effectiveness survey, outlines the findings from our benchmark analysis of 130 companies. The findings show that the majority of finance teams are spending more on finance this year. Which raises the question: are companies getting the benefits of this extra spending or is it simply an indication that firms are loosening the purse strings?


May 2011

New perspectives: PwC CEO Pulse Survey 2011
Our annual CEO Pulse Survey provides a snapshot of the views of over 180 business leaders on Ireland’s recent business environment. It also examines and explores their outlook on the current challenges and opportunities for corporate Ireland.


May 2011
 

World Watch: Governance, reporting and assurance - Issue 2 2011
What's on the agenda of regulators, standard setters and executive Boards right now? We take a look at the latest opinions and news from around the world on financial and corporate reporting, governance, assurance and internal audit issues.


May 2011

Tomorrow’s corporate reporting: A critical system at risk
We have partnered with both the Chartered Institute of Management Accountants (CIMA) and ‘think tank’ Tomorrow’s Company to explore the future of corporate reporting. Our report findings warn that unless reporting evolves to meet the changing demands and opportunities of business, financial capital will be misallocated, business decisions will be sub-optimal, and society will struggle to understand the critical contribution business has to play in meeting the challenges of the 21st century.


April 2011
 

Sustainability yearbook 2011
We have partnered with SAM to produce this year’s Sustainability Yearbook, our guide to the world’s sustainability leaders. Since 1999, SAM has been annually assessing the sustainability performance of over 1,200 companies. The world’s 2,500 largest companies (based on the Dow Jones Global Total Stock Market Index) are invited to participate in SAM’s Corporate Sustainability Assessment. Only the top 15% qualify for inclusion in the Sustainability Yearbook.


January 2011