Originally, this recipe called for the stew to be cooked in a wok, which was trendy at the time. We prefer using a Dutch oven because it provides a large, flat surface to properly brown the meat.
Combine flour, salt, and pepper in a shallow bowl; dredge beef in flour mixture. Heat half of oil in a Dutch oven over medium-high; add half of beef, and cook until browned all over, about 5 to 6 minutes.nTransfer to a bowl. Repeat procedure with remaining oil and beef.
Add onion to Dutch oven, and cook until softened, about 6 minutes. Stir in beer, soy sauce, Worcestershire sauce, steak sauce, garlic, bay leaves, and thyme; bring to a boil. Add beef; cover and reduce heat to medium-low. Simmer until beef is tender, 2 1/2 to 3 hours.
Stir in potatoes and carrots; cover and simmer until potatoes and carrots are tender, about 30 minutes. Stir in peas; cook an additional 2 minutes. Discard bay leaves. Top each serving with chopped parsley, if desired.