Undoubtedly there are plenty of Big Four dealmakers twiddling their thumbs at the moment, which goes some way to explaining how they are able to undercut the mid-tier firms – far better they just covered their costs than not do the work at all.
Now we are seeing a growing desire from companies to use firms other than the Big Four to avoid potential conflicts, and staff are jumping ship to the mid-tier too.
Corporate finance was seen by the big firms as a very lucrative alternative to audit work, and bulked up their numbers throughout the 1990s. Now they don’t know which way to turn – take on the mid-tier or stubbornly cling on to their own patch. Something has to give, so could we see the firms spinning off their dealmakers in the same way they jettisoned their consultants?
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.