David Bromilow, who runs MediMedia, a medical publishing business, has overtaken Stagecoach’s Brian Souter as the UK’s richest accountant, according to this week’s Sunday Times Rich List. Thailand-based Bromilow, who qualified with the English ICA, is placed in 29th position on the list, and valued at #800m. He made his real fortune with adidas, owning more than 45% of the sports goods company when it floated on the Frankfurt stock exchange in 1995. That earned him #400m. Scots ICA-trained Souter, placed last year as the 22nd richest person in the country, fell this year to the 40th place. But he is still valued at #565m, which he shares with his sister, Ann Gloag. FDs also fared well. Geoffrey Elliott, FD of pharmaceutical company Galen Holdings, is worth #40m. Others owed their millionaire status to recruitment businesses and accountancy software companies. Peter Hearn who trained with Coopers & Lybrand and founded PSD, the London based recruitment company, is worth #39m. Accountancy software company Sage accounted for three multimillionaires. Graham Wylie is worth #695m, Daniel Goldman #200m and Paul Walker #64m. Among the other accountants listed is: CIMA-trained Robert Edmiston, former finance director of the Jensen sports car business, is valued at #300m and is the 85th richest person in the country. At number 112, ACCA-trained hotelier Jasminder Singh is worth #260m.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.