It's time to rewrite the 3 R's
The body that represents recovery professionals is revamping its governance. But if you ask me, its board structure isn’t its biggest problem
The body that represents recovery professionals is revamping its governance. But if you ask me, its board structure isn’t its biggest problem
Ask members of the public, and they’d struggle to tell you precisely why R3
is called ‘R3’. We know, of course, that it stands for ‘Rescue, Recovery and
Renewal’, the, um, well known three ‘R’s of the insolvency profession.
To the general public, the body probably sounds like a character from Star
Wars.
Maybe it’s not bothered, but while it’s thinking about its structure, coming
up with a name that means something to the man on the Clapham Omnibus might be
worth some thought.
The problem with R3 is that, if you write it in any context, not just in the
media, you’d have to add another sentence explaining what it is. Why not just
have a name that explains what it is?
Some might question too what the relevance of two of those ‘R’s is, as well.
Recovery I can understand, but Rescue? It isn’t a lifeboat association. And
renewal? Sounds a little bit New Labour, doesn’t it?
R3 does do some good work, its warnings on debt management plans recently
being a good example of the impact it can have.
But just think how big that impact could be.
Alex Hawkes is the news editor of Accountancy Age
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article