RegulationAccounting StandardsCompliance burden could boost Michael Page

Compliance burden could boost Michael Page

Michael Page's chief hopes that increasing red tape and compliance could boost recruitment, after tough trading conditions

Increasing compliance and red tape is expected to boost finance recruiter
Michael Page, claims its chief executive.

Revealing a 45% drop in gross profits to £83.8m for the three months to 30
June, Steve Ingham said that increased regulation would mean more opportunities
for accountants, reported the Telegraph.

‘There’s going to be more compliance and regulation, there will be fewer
people in the risky areas. That’s good for us because we specialise in
compliance and risk. When I hear about more regulation, I think good – more
accountants.’

UK profits for the period fell by 42% compared to a year earlier, to £28.1m.
Gross profits for H1 was £178.8m, compared to £292.7m a year earlier.

Headcount has fallen at the recruiters to 3,705, 33% lower than a year
earlier.

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