Accountant in Bankruptcy (AiB) has released official statistics reporting company insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18. Corporate insolvencies increased from 846 in 2016-17 to 886 in 2017-18. The number of corporate insolvencies in Scotland rose by 28% in Q4 2017-18 (January-March 2018) compared with Q3 2017-18 (October-December 2017),…

Latest figures from the Registry Trust have indicated that there has been a decrease in the volume of business judgments in Ireland. In Quarter 1 of 2018 there 120 business judgment issued, 36 fewer than in the same quarter of the previous year. This is coupled with a 37 percent drop in the average judgment’s…

Latest figures from research by RSM have suggested that  81 percent of middle market businesses are vulnerable to money laundering and bribery. The findings according to the latest YouGov survey, commissioned RSM in a survey of more than 300 UK middle market business leaders, also revealed that 31 percent of firms have suffered, unwittingly or…

The number of failures within the UK’s construction sector increased by 73.3% in Q1 2018 according to new figures from Creditsafe. The quarter kicked off with unexpected collapse of Carillion, which left thousands of suppliers unpaid and countless employees without work. The impact was clearly felt in the construction industry as four of the top…

The Federation of Small Businesses (FSB) is urging the Financial Conduct Authority (FCA) to provide more protection for small business owners who use personal assets as collateral for commercial loans. At present only the smallest firms can currently make a complaint to the Financial Ombudsman (FOS). The FCA is proposing to widen the definition of…

Globalisation and the need to keep up with international trends have led to an increase in the number of global CEOs now leading the FTSE’s largest listed companies, although UK CEOs remain the first choice, according to the Robert Half FTSE 100 CEO Tracker. The total number of UK CEOs leading the FTSE 100 has slipped…

The board of Hampshire Trust Bank plc have announces the appointment of Matthew Wyles as the Bank’s new Chief Executive Officer subject to regulatory approval. Wyles will join Hampshire Trust Bank with immediate effect as CEO (Designate). This follows the announcement late last year that Mark Sismey-Durrant, who has been CEO since 2012, had decided…

The Financial Conduct Authority (FCA) has announced changes to the definition of income between consumer hire leases and consumer credit after a response to its consultation. In December of last year, the FCA made a call for leasing businesses to respond to the regulator. Under the current rule, FCA fees for regulated credit agreements such…

The ICAEW has announced success with accountancy exams with students once again scoring top marks in their  March 2018 ACA Professional Level exams and Level 4 Accounting Technician apprenticeship end-point assessments. Students scored high in all ACA exams, with Business Strategy and Technology seeing the highest pass rate (88.2%), closely followed by Financial Accounting and…

Insolvency and restructuring trade body.R3 has announced that Stuart Frith, a Partner at Stephenson Harwood LL will be its new President. With over 30 years’ experience in the insolvency and restructuring profession, Frith has expertise covering both corporate and personal insolvency work. A partner in Stephenson Harwood since 2009, he is also a Deputy Judge…

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