I was interested to read the Review update dated December from the Professional Oversight Board (an operating body of the FRC). The report ( a Review of how accountants support the needs of small and medium sized companies and their stakeholders)suggests that many company directors of small businesses and users of unaudited reports don’t fully understand the role of the accountancy profession in the preparation of accounts. As a result, the POB’s research seems to indicate that many users of unaudited accounts filed at Companies House would hold them in higher esteem if the role of accountants in preparing them was better explained. However, not everyone in the profession agrees on the benefits that may accrue if the accountant’s role in unaudited accounts was more transparent. Accountants could be accused of hiding their light under a bushel if , through over caution, thay appear to distance themselves from the work they undertake on behalf of smaller firms to provide competent professional services to their clients.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children