Uk Government Announces Winners Of The Great Tech Awards

UK backs global accounting rules, wants ‘prudence’ back

Prudence requires accountants to err on the side of caution when treating something not covered by a specific IASB rule and the investors said its omission from the foundation for the IASB’s rules, known as the conceptual framework, was inconsistent with some EU and British laws. They argued it could help banks mask any problems they were suffering, a particular concern given banks were given a clean bill of health just before taxpayers had to rescue them in the 2008 financial crisis. One of the critics, Tim Bush of shareholder pressure group Pirc, challenged the IASB rules in a 24-page letter in 2010 in his role as member of a UK Accounting Standards Board committee. Britain’s government is “entirely satisfied that the concerns expressed are misconceived”, consumer affairs minister Jo Swinson said in a statement on Thursday. Melanie McLaren, a director at the Financial Reporting Council (FRC), which regulates accounting in Britain, said the government statement, backed by a legal opinion for the FRC, ended the uncertainty over accounting practices. “We felt we needed to listen to the investors and give the matter due consideration. Having done that we needed to make sure we were quite firm to close that uncertainty down as we approach the financial year-end,” McLaren told Reuters. Bush said the debate over IASB rules could continue. He told Reuters it was difficult to see how the matter is conclusively settled if there is a situation where the latest legal opinion seemed to be disagreeing with an earlier opinion and also with other judges and a Law Lord. The IASB is reviewing its conceptual framework and the UK government and FRC maintain a reference to prudence should be reinserted. “It’s not as if there is no concept of exercising caution in the conceptual framework, but we feel it has been de-emphasised,” McLaren said. IASB Chairman Hans Hoogervorst has so far resisted such calls, saying prudence was there “in spirit”.

“The technology sector is of utmost importance to the UK, and is bolstered by our commitment to innovation, entrepreneurialism, and a dynamic business climate,” said HRH The Duke of York, whose official work includes supporting the economic success of the UK. “The GREAT Tech Awards offer an unparalleled opportunity for the winners to use the UK as their next step towards international expansion and success. I wish the winners the best of luck on their exciting new journey across the Atlantic.” The US award winners were handpicked by a panel of judges representing the finest industry leaders, influencers, and entrepreneurs. The winners are: Media: ADstruc The Advisors’ Choice Award, awarded to Blippar , recognizes a British technology company that has successfully established a New York office. Sponsors of the competition include Virgin Atlantic Airways, Royal Bank of Scotland (RBS), TaylorWessing, BritishAmerican Business (BAB), and Blick Rothenberg. “We are thrilled to announce the winners of The GREAT Tech Awards tonight, which represent the best of the UK-US tech industry,” said Danny Lopez, British Consul-General to New York. “We have seen exponential growth in tech clusters in both UK and US cities in recent years, and it’s no coincidence. Winners will embark on a journey of international expansion in the best country in Europe to grow a business, and these bespoke development packages will provide a helpful boost for these companies to succeed.” The five category winners receive a customized package that includes: a premium economy round-trip airplane ticket provided by Virgin Atlantic Airlines departing from JFK on October 14, and returning from LHR on October 19, 2013; a meeting with a senior representative at the UK Prime Minister’s Office, No. 10 Downing Street; over $4,000 worth of legal services courtesy of TaylorWessing; $3,000 worth of accountancy/business advisory services provided by Blick Rothenberg LLP; a two-day customized business development program in London (15-16 October); three classes at General Assembly in London; one entry pass to London’s Wired 2013 Conference (17-18 October 2013); an introductory meeting with a major British brand to be selected by a sponsor; a tour of co-working and shared office spaces in London; a free annual corporate membership with BAB in either London or New York’s chapters; a complimentary Gold Ticket Registration to the BAB Christmas Luncheon (in either London or New York); inclusion in a feature on the winners in BAB New York’s Network magazine. The Advisors’ Choice winner’s prize package includes: a business reception hosted by the British Consul-General New York at the British Residence; a free annual corporate membership with BAB in either London or New York’s chapters; three classes at General Assembly in London; a complimentary Gold Ticket Registration to the BAB Christmas Luncheon (in either London or New York); inclusion in a feature on the winners in BAB New York’s Network magazine. Judges include: Ben Lerer, CEO/Co-founder of Thrillist Media Group and partner at Lerer Ventures; David Karp, CEO/Founder of Tumblr; John Borthwick, CEO/Co-founder of Betaworks; Margaret Dohnalek, Global Head of Technology Scouting, PepsiCo; Simon Bradley, Vice President Marketing, North America, Virgin Atlantic Airlines. The Advisory Board consists of: Elizabeth Gould, Senior Producer at Bloomberg Media; Paul Murphy, Senior Vice President at Betaworks; Shivon Zilis, VC at Bloomberg Beta; Tarek Pertew, CEO/Founder of Wakefield Media and Uncubed; Ziv Navoth, CEO/Co-founder of Paragraph and Tech City Investment Organisation Advisor. Editor’s Note: “Technology is GREAT” is part of the wider GREAT Campaign , which promotes the UK around the world as a great place in which to visit, invest and study.

UK gears up for cyberwarfare offensives

by Charlie Osborne September 30, 2013 8:08 AM PDT The UK government is planning to recruit hundreds of computer specialists to defend core infrastructure against cyberthreats, Conservative Defence Secretary Philip Hammond said Sunday. Speaking at the annual Conservative party conference, Hammond said the United Kingdom was dedicating additional resources and funds to building a strong cyber intelligence and surveillance network, according to Reuters . As cybercrime continues to prove a lucrative way for hackers to steal valuable data for profit or as part of state-sponsored jobs — and many governments struggle to catch up and protect networks adequately against rising attacks — defense budget funds now need to not only consider physical threats, but digital warfare as well. Hammond commented: “Last year our cyber defenses blocked around 400,000 advanced malicious cyber threats against the government’s secure internet alone, so the threat is real. But simply building cyber defenses is not enough: as in other domains of warfare, we also have to deter. Britain will build a dedicated capability to counterattack in cyberspace and if necessary to strike in cyberspace.” In February, the National Audit Office named “addressing the UK’s current and future ICT and cybersecurity skills gap” as a “key challenge.” The NAO report was published as part of the UK’s 650 million pound ($1.09 billion) Cyber Security Strategy scheme, and said it could take “20 years” to address the skills gap at all levels of education. Not only could a dedicated task force of offensive security experts deter hackers in the future, but the Defence Secretary told the Mail on Sunday that cyberstrikes could work “alongside conventional weapons in future conflicts,” disabling communications, nuclear weapons, ships and critical hardware. To establish the new cybersecurity force, the UK will recruit experts in their hundreds from a number of fields. The recruitment drive will include civilian computer experts who will be part of the “Joint Cyber Reserve,” and their role will be to work alongside members of the Ministry of Defence and GCHQ to protect critical infrastructure and prevent data theft. The cost of the program was not disclosed, but recruitment is due to begin in October. Hammond commented : “Increasingly, our defense budget is being invested in high-end capabilities such as cyber and intelligence and surveillance assets to ensure we can keep the country safe. The cyber reserves will be an essential part of ensuring we defend our national security in cyber-space. This is an exciting opportunity for Internet experts in industry to put their skills to good use for the nation, protecting our vital computer systems and capabilities.” The UK is also seeking ways to train the next generation of cyberspecialists. In May, two UK universities — Oxford and Royal Holloway — were granted 7.5 million pounds in funding to help develop the country’s skills in online security. Apprenticeships in cybersecurity are also due to be offered this year by E-Skills, the UK’s sector skills council for business and information technology.

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