In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Richard Toone, managing partner of CVR Global, gives his views on the year ahead
What will define your firm’s strategy in 2017, and how will this be implemented?
We will continue to invest in its key business lines of insolvency, restructuring, pension covenant advisory, forensic accounting and expert witness services.
This is both in the UK and internationally, and growth will be driven by the continued recruitment of excellent partners and staff.
What service lines will be most critical to your firm’s growth during the next year and how will you capitalise on this?
While we do not predict a significant increase in UK insolvencies during 2017, we do see a continued increase in insolvency-related litigation, both in the UK and internationally. This is a key growth area for CVR Global, and we are recruiting for our investigations, forensics and litigation teams.
What challenges will the wider accountancy profession face over the coming year?
The combination of increased fee pressure and increased regulation will continue to present challenges for the profession. We see increased investment in technology and systems as the key to dealing with these challenges.
How will the business environment change in 2017, and what impact will that have on the mix of services clients require?
The uncertainties arising from Brexit will continue to dominate the UK business environment during 2017 and will lead to an increase in demand for advisory and consultancy services.
We predict we will also see, perhaps, greater competition from our colleagues in the legal profession.
What policies should the next government undertake to improve the environment for UK corporates?
Clarity on the post-Brexit landscape is by far the most important issue for UK corporates – and this may not be achieved until 2018.