PracticeAccounting FirmsYour country needs you – will you save UK plc?

Your country needs you - will you save UK plc?

That’s the headline on our front page this week because we wanted to illustrate the significance of accountants at this difficult time for the economy.

Business recovery expert Neville Kahn has already demonstrated the importance
of his expertise by helping build a model that should restore a number of
structured investment vehicles to health.

This week’s Accountancy Age also emphasises how auditors are working with
boards to ensure they understand the issues around being a going concern and the
judgement required to reach valuations that have integrity.

In another piece we emphasise the role of accountants, described as ‘one of
the most trusted sources of advice for small business’, in aiding SMEs to
survive.

Accountants will play a critical role in businesses being able to survive the
downturn and recession if it follows. They have the key skills and foresight to
help with financial management issues that could mean the difference between
survival and demise for Britain’s businesses.

Whether it’s making transparent the exact position of a business, facing
tough decisions over cost savings or working out cash flows and working capital,
accountants will be in the thick of it as the economy worsens.

Accountants will add value by making sure their clients face these issues and
avoid prevarication. There’s no point in having trusted advisers if you don’t
use them. The skills and the knowledge base is there and available. But it needs
to be used and that requires a will.

The challenge accountants face, in spite of the downturn, is making sure
their advice is sought. There’s no point in being a trusted adviser unless you
are willing to take the lead.

comment@accountancyage.com

Related Articles

Productive accountancy firms lead the way

Accounting Firms Productive accountancy firms lead the way

2d Simon Adcock, HSBC
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

3d Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

1w Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

2w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

3w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

3w Emma Smith, Managing Editor