Confusion over the tax treatment ofconvertible debt in accounts drawn upunder international financial reportingstandards could see companies rush tochange year-end dates and buy backloans to save money.

Last week, property company Capi-tal & Regional announced it was buy-ing back 28% of its uninsuredconvertible loan stock, at a cost of£27m, to offset it against tax. The prac-tice is allowed under UK GAAP, but isnot permitted under current govern-ment rules for taxing IFRS accounts.

To avoid having to switch to IFRSat the beginning of this year, C&Rbrought its year-end date forward oneday to 30 December, enabling it tomake the purchase under UK GAAPthis year and potentially buy back further loan stock in coming months.

‘We don’t really want to cock asnook at the system and we wouldn’t

normally do this, but the economics ofthe situation overcame the presenta-tional issues,’ FD William Sunnuckstold Accountancy Age.

Sunnucks argued that the move wasmade to maximise shareholder value,with the company expecting to saveover £12m from the buyback. He saidshareholders had accepted the situation,and insisted the company would stillprovide full IFRS disclosure and comparative accounts this year.

Similar situations could hit manycompanies with convertible debt.While listed companies with Decem-ber year-ends may have missed theopportunity, others will be franticallytrying to buy back as much loan stockas possible before the new financialyear, or extend their year-ends bymonths to offer more time.

‘The government has said it will dosomething, but it is by no means certain they will or what the result willbe,’ said PwC tax partner Derek Jenk-ins. ‘Any company with convertibledebt would be best dealing with it inits current accounting period or facepotentially disastrous consequences.’

For more turn to finance week, page 6

13 January 2005 www.accountancyage.com £2.60

Insider:touch up your makeup and tidy your beard,page 15

Profile:how Greggs’FD earnshis bread and butter,page 16

Insight:time to recognise valuein non-fee earners,page 18

News:Big Four lend support to UNand Kofi Annan-led aid effort,page 2

Billions of pounds worth of publicmoney will be put at risk tomorrow,when lawyers challenge ‘unjustified’legislation rushed in by the UK tocounter the burgeoning number ofcases that use European law to claimback overpaid tax.

Some of the world’s largest compa-nies, including Coca Cola, IBM andBMW, stand to benefit from the legalchallenge. If successful, it could mas-sively inflate the estimated £20bn atstake in six group litigation orders(GLOs) currently being fought inEuropean courts.

Tomorrow’s hearing is the start of aclaim that contests the six-year limitimposed by paymaster general Dawn

Primarolo on how far back claimsmay go. Primarolo rushed through thelegislation in September 2003 to stemthe tide of claims using European lawto undermine the UK tax system.

But experts believe that, becausethe Treasury introduced the legislationwithout a transitional period, it contra-venes the Human Rights Act.

‘I’m not surprised it’s taking place,’said tax barrister Patrick Cannon. ‘Theattempt to limit claims to six years wasnot justified.’

Lawyers hope to use a judicialreview to challenge the legislation, following a case management judge-ment scheduled for tomorrow. Whileonly a housekeeping exercise, the

judgement marks the beginning of oneof the most important tax cases ofrecent years.

One expert close to the case saidthere were hundreds of companies thathad valid claims effectively ruled outbecause of the legislation. Some go asfar back as the seventies and run into‘tens of millions’of pounds.

The latest legal challenge to theUK’s tax regime could be one of the most fundamental and damaging.

Not only could it open the way for hundreds of other claims for overpaid tax, but it could also prove that the very basics of Britishlaw could be challenged under European law.

‘This won’t please the government,’said Mike Warburton, senior tax part-ner at top 10 firm, Grant Thornton. Hewent on to say that current claimsfrom some of GT’s clients ran into‘pretty big numbers’.

So far, four of the six GLOs havebeen referred from British courts tothe European Court of Justice. A fifth– the so-called controlled foreigncompanies and EU dividend GLO – isexpected to be sent to the ECJ beforethe end of the month when the hearingbegins at the High Court on 24 Janu-ary. The Treasury was unable to com-ment.

Email David_Rae@vnu.co.uk

Government accused of breach of human rights legislation in clampdown on multinationals’attempts to recover taxes,writes David Rae

Property company’s£27m buyback triggerssurge in corporate debt restructuring,writes Paul Grant

Treasury faces bill for billions

Russian oil company Yukos’successfulattempt to file for bankruptcy in the UScould prompt ailing British businessesto follow suit and look for the addedprotection offered by US bankruptcylaws,writes Nicholas Neveling.

A Houston court ruled in favour ofthe oil company,even though it did nothave any US business interests beyondholding a bank account.

Stephen Grant,a business recoveryand insolvency expert at WilkinsKennedy,said filing for bankruptcyacross the Atlantic could be appealing

for UK-based struggling businesses.US Chapter 11 bankruptcy

regulations allow directors to stay incontrol of a company instead ofhanding it over to administrators,aswould happen in the EU,according toGrant.Directors would be less likely toact in the interests of creditors thanindependent administrators would.

‘There are regulations governinghow directors in charge of bankruptcompanies in the US should act,but itseems that Yukos filing for bankruptcyin the US was a case of jurisdiction

shopping,’said Grant.‘The companylooked around for the most favourablebankruptcy regulations to protect itsassets.This ruling could see UKcompanies doing the same thing.’

EU bankruptcy regulations onlyallow proceedings to be instigated inthe jurisdiction where a company hasits main business interests and can beaccessed by creditors.

If UK companies choose to avoidthese regulations, creditors maymitigate their exposure to this risk byincreasing lending costs.

IFRS tax uncertaintyprompts scramble to buy back loans

In the pipeline:Russian oil company’s bankruptcy success could see UK firms take advantage of US system

One expert close to the case said therewere hundreds ofcompanies that hadvalid claims effectivelyruled out because ofthe legislation

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Confidence is riding high that propor-tionate liability will make it into the companies bill ahead of the general election this year, and before aseries of freshly launched taskforceshave the chance to report on the vexedissue of auditors’duty of care

DTI minister Jacqui Smith bro-kered a deal between investors andauditors late last year that would allowauditors to negotiate proportionate lia-bility by contract in return forincreased responsibility and trans-parency. It would also see the intro-duction of a new criminal offencearound fraudulent or reckless auditingthat could result in jail time.

Taskforces are now set up, spear-headed by the ICAEW, to look at fivekey issues. These are the contents ofaudit reports: the questioning of audi-tors at, or before, an agm; terms ofauditor engagement; resignation and

issues of defamation; and finally,competition in the UK audit market.

While the issues may take sometime to resolve, an announcementfrom the government on proportionateliability is expected much sooner.

‘I believe the government is nowabsolutely committed to introducingproportionate liability by contract intothe companies bill,’said Peter Wyman,

head of professional affairs at Price-waterhouseCoopers (pictured). Headded that, provided the governmentcan see the profession is fulfilling itsside of the bargain, it would be able topress ahead on legislation withoutfirm conclusions on the other issues.

A DTI spokeswoman concurredthat ‘the broad approach has beenagreed, but there are details to befinalised’. Movement on the issue isexpected in the next few weeks.

The timing and outcome of the nextgeneral election – predicted for May –will still play a key part in whetherauditors get what they are after. Evenif proportionate liability makes it intothe draft bill soon, it is not expectedthat the bill will be ready in time for asummer election. Only if the Labourparty is returned to power is it certainthat a final version of the bill willreceive royal assent.

Auditor liability back in billIndications are strong that proportionate liability will appear in the companiesbill,hinging on the profession providing certain guarantees,writes Paul Grant

Accountancy firms are losing out to other sectors in the war for IT,marketing and HR talent because they fail to recognise the value of theirpractice management staff, instead lavishing attention on fee earners. Butthe Managing Partners’Forum is warning that a them-and-us attitude isaggravating an already tight labour market. Ed Smith, a senior partner atPricewaterhouseCoopers, said: ‘The more you can do to eliminate thedifference between fee earners and practice management staff, the moreattractive accountancy becomes. The profession needs to concentrate onstrong professional skills rather than teach accountants and financial peopleto do these jobs.’

Read the full article on page 18

Microsoft Business Solutions has intensified competition to win overdisaffected PeopleSoft customers looking to leave the software supplierfollowing its takeover by Oracle. PeopleSoft users have been offered a‘migration path’from their current business software to any one of the fourMicrosoft products: Great Plains, Navision, Axapta, or Solomon. ‘Themigration program was developed to help PeopleSoft customers andpartners respond to business challenges resulting from Oracle’s recentacquisition of PeopleSoft,’ said an MBS statement.

Go to www.accountancyage.com/news/1139131 to read more

Greggs’finance director Malcolm Simpson took on his job in 1974 and isnow in his 31st year in the role – a feat that saw him top a recent league of theFTSE350’s longest-serving FDs in Accountancy Age’s sister publicationFinancial Director. Today, Greggs is fighting to show it still has a place in aculture that fears an obesity epidemic and warns against eating too much ofits traditional fat, salt and sugar-laden fare.

Turn to page 16 to read the profile of Malcolm Simpson in full

The impact of IFRS could be felt on the UK’s public services quicker thanoriginally expected, the Chartered Institute for Public Finance andAccountancy has warned. CIPFA is advising UK public serviceorganisations to be aware of the potential impact of IFRS, as there are signsthat key standard-setting bodies may accelerate the implementation of IFRSinto national requirements.

Go to www.accountancyage.com/news/1139126 to read more

Directors of Hong Kong-listed companies could face up to 10 years in jailand fines of up to £700,000 for publishing false accounting information inannual reports, under new proposals. The proposed rules would empowerHong Kong’s main securities regulator, the Securities and FuturesCommission, to investigate and impose fines on those who have breached itsrules. The body recently made demands for greater responsibility over stockmarket listing rules.

Visit www.accountancyage.com/news/1139119 for more on this story

In last week’s Accountancy Age, ‘In the firing line’(Analysis, page 6)referred to the KPMG administration of Courts, the furniture store. Wewould like to correct some inaccurate references in the article. The Courtsstores were already closed when KPMG took over the running of thecompany. KPMG took the decision to leave the stores closed initially tocomplete a stocktake and for a further period, to ensure staff safety. KPMGmade considerable effort to keep Courts’staff and customers informed ofdevelopments by sending letters to 55,000 customers, establishing a third-party call centre, updating the website and giving regular staff updates. Weare happy to clarify any misleading impression our article may have given.

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By Accountancy Age staffKPMG has confirmed that threemembers of staff are missing in theAsian tsunami disaster, adding to theErnst & Young worker confirmedmissing by the firm last week.

Neither KPMG nor E&Y will con-firm which offices their missingemployees are from.

Meanwhile, PricewaterhouseCoop-ers said this week it was discussingways of helping the United Nationstrack the millions of dollars expected tobe donated by member states, follow-ing the emergency appeal by UN sec-retary general Kofi Annan (pictured).

The UN is seeking $977m (£512m)

from member states to help up to 40agencies in their relief efforts. TheUN has an online financial trackingsystem based in Geneva and con-firmed that it is in discussion withPwC to improve the service.

E&Y is helping disaster-struckIndonesia by donating its audit servicesto two fundraising initiatives. Indone-sia Menangis, or Indonesia Crying, thelargest private-sector fundraising effortin Indonesia, and Dompet ANTVPedulis, or Wallet For Caring, are bothaudited by E&Y. They have jointlyraised more than $12.5m.

United in the fight against fraud, see page 6

Big Four throw supportbehind tsunami aid effort

Grant Thornton has recorded a growthin profits for the seventh consecutiveyear,with a 29.5% improvement on2003,writes Nicholas Neveling.

The mid-tier firm – the fifth largestin the country – saw operating profitsclimb to £52.2m in 2004 compared tothe £40.3m taken in the previous year.The group also enjoyed an 8%increase in turnover to £237.2m.Turnover per partner was up by 11% to£1.02m and average distributableprofit per equity partner was up by20% to £345,000.

The firm’s corporate financedepartment was the major contributorto the swelling profits,with profitabilityimproving by 35% on last year.

Michael Cleary,national managingpartner of Grant Thornton,said:‘Against an uncertain tradingenvironment,the financial informationfor the current financial year shows anencouraging picture with growth andimprovement in profitability.’

Turnaround specialist BegbiesTraynor last week published its firstset of annual accounts since listing onAIM last year.The group realisedprofits before tax of £570,000 on aturnover of £11m.

Ric Traynor,executive chairman ofBegbies Traynor,said he was confidentthat the group would remain oncourse to ‘meet the challenge ofdoubling our market share by 2007’.

For BDO results, turn to page 4

Recordprofitsfor GT

United approach:Kofi Annan speaks with tsunami victims in Sri Lanka

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www.accountancyage.com/news AccountancyAge 13 January 2005

Concerns surrounding ‘pay for failure’resurfaced this week when Judy Boynton,the former Shell CFO,received a£1.5m severance package.The deal followed her removalfrom the post during the scandal over the restatement ofShell’s reserves,writes Nicholas Neveling.

Boynton will receive a $1m (£521,945) cash severancepayment,as well as a $984,225 (£523,879) lump-sum pension

entitlement.Previously allotted shares worth £550,000 wouldalso be released to Boynton as part of her leaving package.

Further controversy over executive pay came as 10Safeway directors received enormous payoffs after the saleof the supermarket chain to Morrisons.Among the biggestwere £948,000 paid to former FD Simon Lattin and £2m toformer chairman David Webster.

Rewarding failure?Former Shell CFO gets huge payoff in wake of the company’s profit restatement debacle

By Michelle PerryA sustained period of rising demandfor qualified accountants will charac-terise 2005, as jobseekers’confidencein the market strengthens, UKrecruiters have confirmed.

After several years of job cuts andunder-investment in training, the UKaccountancy recruitment market isexperiencing a sharp revival thanks to

a flood of new regulation and a short-age of qualified accountants.

Steve Carter, UK managing direc-tor of Robert Half International, toldAccountancy Age: ‘Today’s market isvery thirsty for quality candidates.They are much more optimistic aboutthe market. I am optimistic about therecruitment market in the coming yearas a result of this candidate confi-

dence. As good candidates changejobs, this starts a chain reaction andcreates mobility in the market.’

The upturn in the recruitment mar-ket is also good news for recruiters’bottom lines.

Linda Harlow, managing director ofNicholas Andrews & Temps Financial,said: ‘We increased our profit on theprevious year and we plan to continue

to grow. We’re increasing our branchnetwork from 15 offices to 18 asdemand grows from larger clients.’

Michael Page reported its fourthquarter results this month, announc-ing a 23.9% rise in turnover to£56.6m, compared to Q4 2003.

The dearth of qualified accountantsmeans jobseekers can name their priceas companies and firms compete for

the best talent in the rush to complywith Sarbanes-Oxley and IFRS. ‘Jobseekers are now more educatedand know what they’re worth,’added Harlow.

Research for Accountancy Agerevealed in October last year that payhad risen 5.3% over the previous sixmonths. Experts believed pay levelswould continue to rise.

Seller’s market as jobseekers name their price in 2005

Disgruntled ICAEW members leftcold by the thought of a merger areamong the professionals pursued byACCA president John Brace, who haswritten to practitioners urging them tojoin the association.

In a move that seems designed toappeal to members of the ICAEW disaffected with the CIPFA and CIMAmerger talks, Brace has written topractitioners advertising its ‘directadmission to membership route forchartered accountants’.

The letters, sent just weeks afterconsolidation talks were confirmed,include glossy brochures on the‘value of ACCA’, as well as copies ofthe association’s quarterly magazineand details on how to join.

‘ACCA receives many enquirieseach year from firms wishing totransfer their audit registrations toACCA,’Brace wrote in the letter.

Brace told Accountancy Age that,

while it was not a ‘conscious effort’ totake advantage of the merger situation,the association was appealing to insti-tute members who have been ‘disaf-fected’with the institute for a while. ‘Itwas partly triggered by the hoo-haover practice assurance,’he said.

It is not the first time ACCA haspursued an aggressive recruitmentdrive. In 1998, it launched a 10-weekcampaign to try and force a mergerwith CIPFA and CIMA.

David Adams, the then CIPFA chiefexecutive, was outraged and con-demned ACCA’s bid as ‘misplaced,irrelevant, inept, ingenuous, divisiveand dangerous’.

Peter Mitchell, chairman of theSociety of Professional Accountants,said that ACCA was ‘better placed tolook after smaller practices’ and thatthe ICAEW will have to adopt a more‘divisional structure’ to ensure thatsmaller firms do not feel overlooked.

An ICAEW spokesman rebuked theclaim, pointing to last year’s strategicreview, which he said was undertakento better support its members. ‘We’reseen as a qualifying and regulatorybody, but we’re looking to supportmembers through their careers,’he said

For more merger news go to www.accountancyage.com/news

The Big Four have claimed that their excellent performance in thecorporate finance arena in 2004 willcontinue over the next 12 months,writes Kevin Reed.

The latest corporate finance league tables,produced by businessinformation provider mergermarket.com,revealed that the Big Fourdominated the volume of deals advised

in Europe during 2004.And theircorporate finance chiefs expect thevolume to increase in 2005.

Jonathan Franklin (pictured),E&Ypartner and head of M&A,said therewas a robust level of private equitytransactions,a strong area for E&Y.

‘We don’t see the marketcontracting,either because privateequity work will continue or mergers

and acquisitions work will increase.’But Franklin confirmed that

recruitment pressures on professionalservices firms was an issue,especiallywhen young corporate finance staffmoved on to investment banks.

Deloitte partner MaghsoudEinollahi said that while it was difficultto recruit experienced staff intocorporate finance,the problem should

be ‘no bigger’in 2005 than before,and should not stop the firm fromimproving its performance.

KPMG head of corporate financeGuy Warrington said:‘Investmentbanks will continue to put resources atthe larger end of transactions,so Ipredict continuing success.’

See www.mergermarket.com for more

ACCA woosmembers ofrival institute

Corporate finance outlook bright,say Big Four

By Kevin ReedDeloitte has been cleared of any‘reckless’ and ‘negligent’ handling inits role as auditor of heavily investi-gated Dutch retailer Ahold.

The District of Maryland Courtjudge threw out claims broughtagainst the Big Four firm by US

Ahold shareholders. The claims cen-tred around Deloitte’s role as auditorof Ahold during which time the retail-er revealed £2bn of accounting irregu-larities concerning itself and USsubsidiary US Foodservice in 2002.

But a new investigation has beenlaunched by the Dutch commercial

court Amsterdam Enterprise Cham-ber into Ahold’s accounting irregular-ities. It will consider Ahold’sacquisition of US Foodservice and thesupervision of internal controls atAhold operating companies.

For more visit www.accountancyage.com

Ahold auditor cleared of negligence

Association targetsICAEW membersdisgruntled by practiceassurance and mergertalks,write David Raeand Kevin Reed

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Finance professionals across the UKare upbeat about the prospects forlocal economic growth in their regionsin 2005 and are confident that theirorganisations will grow profits duringthe year too.

The findings of the latest Accoun-tancy Age/Allied Irish Bank regionalbusiness-health survey show thatalmost half of UK accountants expectto see moderate to significant growthin the coming year.

This is despite major concernsabout a shortage of skilled labour,identified by the survey as the biggestbarrier to economic growth.

Professionals in London, the south-east and east of the country were themost optimistic, with 61% predictinglocal economic growth.

In the southwest, 55% of businessessaid they anticipated growth in 2005,while 49% of survey participants inWales, Scotland, the northwest andnortheast forecast a growing economy.The midlands emerged as the leastpositive region, with only 42% of

businesses expecting growth in theyear ahead.

More than half of the respondentsin each region also expected growth inthe profitability of their organisations,with London, the southeast and eastagain performing well, with 65% ofbusinesses expecting growth, closelybehind the northwest and northeast,which polled 66%.

Karl Heffernan, Allied Irish Bank’sarea director, said stable interest ratesare the major factor supporting theoutlook for growth.

‘Interest rates have stabilised,although they are slightly higher thanthey were at the same time last year.However, hopes that they are at, or

near, their peak will certainly help toboost the market,’said Heffernan.

The general optimism did not seemto be tempered by the poor perform-ance of the manufacturing sector inthe survey, even though the sectoremerged as the largest single source ofrevenue in every region.

Of the businesses surveyed, 44%perceived the manufacturing sectoras unhealthy, with a further 43% indifferent to the sector’s prospects.The next worse performing sectorswere property and retail, where 13%of those polled remained negative intheir outlook.

Heffernan, however, believed thatthe negative perceptions surroundingmanufacturing were exaggerated.

‘In our experience, manufacturingcompanies operating in niche areas,which produce innovative products,for which there is demand and whichare well managed, will continue tothrive in 2005.’

www.accountancyage.com/news/1139098

Positive outlook forlocal economic growth

Survey of finance professionals reveals upbeat approach to business healthdespite fears over a shortage of skilled labour,writes Nicholas Neveling

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Aviva,the UK’s biggest insurer,has announced plans to restate its full-year 2003and interim 2004 results to help give investors a clearer picture of the group’s lifeinsurance business – a move that will reduce the embedded value of its lifeinsurance business for both periods by 5%,writes James Bennett.The company’sgroup chief executive Richard Harvey (pictured right) and FD Andrew Moss(pictured left),said that the changeover,in accordance with European embeddedvalue accounting principles,would have no impact on group operating profits ornew life business contributions.Aviva’s group annual results,to be unveiled on 9March,will also be published under EEV principles,it said.

By Kevin ReedBDO International has boasted a solidincrease in fee revenue for its memberfirms in 2004, led in particular by itsMiddle Eastern offices.

Revenues in Europe and NorthAmerica grew by 8% and 9% respec-tively during the past 12 months, butthey were eclipsed by a 20% surge inrevenues across the Middle East region.

BDO UK senior partner DermotMathias said it had ambitious practicesin Egypt and Bahrain. The network of

firms saw fee income increase by 13%to $3bn (£1.6bn) up to 30 September.

Mathias said Big Four firms werecurrently ‘resource-constrained’ deal-ing with clients affected by Sarbanes-Oxley, so BDO would continue to lookto grow organically and throughexpanding its network in the future.

‘They are unlikely to attack themid-market,’ said Mathias. ‘Whenthere are bigger opportunities theytend to focus on their core customers.We wish to consolidate our position as

the fifth biggest global firm.’Mathias added that despite ‘skills

issues’ in both the UK and US, thefirm’s reputation as good employersstood them in good stead.

The firm won Employer of the Yearin the Accountancy Age Awards 2004.

BDO took on 50 offices worldwideover the last year, bringing the total to621, with staff numbers up to 25,118.The network also welcomed newmember firms in Serbia-Montenegro,Mauritius and Finland.

Middle East stars as BDO shinesBy our parliamentary correspondentThe government is spending £100mon a huge catch-up exercise notifyingstate pensioners and prospective pensioners of deficiencies in theirnational insurance contributions.

The crisis stems from a computersystems failure that dates back nearlyten years.

Comptroller and auditor general SirJohn Bourn revealed the extent of thecatch-up operation in a report inwhich he qualified the National Insur-ance Fund’s accounts for 2003/04,because the Department of Work and

Pensions could not produce the evidence required to verify incapacitybenefit payments.

According to Sir John, the InlandRevenue only started writing to working age contributors, who shouldhave received notices warning of deficiencies in their paymentrecords, between October 2003 andNovember 2004.

During the year some 10 millionnotices were sent out and the annualproduction of deficiency notices –suspended by the former Contribu-tions Agency in 1995/96 when thecomputer failure was at its height –restarted late last year.

The DWP has the more difficulttask of writing to 670,000 people whohave reached pension age and forwhom there is an immediate impacton pension entitlement. It began theexercise last September and expectscompletion to take 12 months.

£100m billto catch-upon NI crisis

Recalculation: insurer restates results to give investors clearer picture

The general optimismdid not seem to betempered by the poorperformance of themanufacturing sector

004_AA_13Jan05 11/01/05 5:49 PM Page 4

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For most people, 1January markedthe dawning of aNew Year, fillingthem with freshinspiration and

determination. For the business world,however, the day marked the beginn-ing of the biggest shake-up in account-ancy for a generation.

The David Bowie lyric ‘Ch-ch-ch-ch changes, turn and face the strain’–recorded in the 1970s, just as plansfor the first international standard-set-ter translated into action – could turnout to be the anthem for 2005.

For, as finance directors andaccountants around Europe prepare topresent their numbers under interna-tional financial reporting standards, itis certainly time for them to face up tothe enormity of the task. They will befeeling the strain.

The date is no big surprise. The 1January 2005 deadline for publiclytraded companies in the EuropeanUnion to switch to IFRS has beenknown in accountancy circles for atleast five years.

But the actual levels of preparationfor this far-reaching transition infinancial reporting and accounting are

severely lacking, warn analysts. Jeannot Blanchet, City analyst and

IFRS expert at Morgan Stanley, says:‘I don’t feel we’ve been overwhelmedby disclosures. What we’re seeing isthe best in the class [communicating].

‘We have seen a pick-up in compa-nies organising specific sessions onIFRS for analysts. But it’s only dozens,though, and it only just started back inmid-November last year.’

The impact won’t be seen untilMarch, when companies with Decem-ber year-ends publish restatedaccounts under IFRS for the past twoyears. But first-quarter results for thisyear will be the first to appear underthe new regime.

Accountants are warning compa-nies to make sure the market under-stands any changes, so as not tomisinterpret the numbers. Analystspoint to Barclays as a good example tofollow in briefing analysts andinvestors on the IFRS impact.

The greatest concern for companyexecutives right now is the short-termshare price volatility. A recent exam-ple of what could happen came at theend of last year, in a spat between thebank Northern Rock and CreditSuisse First Boston.

CSFB said the bank’s profits wouldbe hit by up to 10% under IFRS, caus-ing its share price to take an immedi-ate hit. The Newcastle-based bankresponded, claiming it would see aprofit change of plus or minus 5%.The share price rose accordingly.

This was the first headline exampleof share price volatility caused by theaccounting switch-over that we haveseen. But it is a movement that willcharacterise this year’s trading.

The effects of the transition, howev-

er, aren’t only short-term. ‘If the num-bers show a very different picturefrom what we understood, that willaffect a company’s long-term valua-tion,’says Blanchet.

The majority of the financial community are in favour of thechanges because they will increasedisclosure and transparency, as well asimprove comparability.

What the analyst and investor com-munity wants to see is clear, transpar-ent information about the switch andexplanations for any changes.

What they don’t want to see isdelays in reporting, because asStephen Cooper, head of valuationand accounts research at UBS War-burg, puts it:‘It’s never a good thing’.

‘The market isn’t subtle,’ warnsBlanchet. ‘It’s sell now and ask ques-tions later.’

Analysts expect to see an explosionof preparatory reports from compa-nies in the coming weeks ahead of thefirst reporting deadlines in March.What is crystal clear is that howeverfar companies are down the line inpreparing for the switch, a no-surprises attitude is the key to asmooth transition. Communication is,at present, the only way forward.

Europe’s businesses told to double check that the market is prepared for accounting changes under IFRS,writes Michelle Perry

Communicating:Barclays held a detailedanalyst briefing in December

Check and check again

financeweek

NE

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CA

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006_AA_13Jan05 11/01/05 2:59 PM Page 6

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8 Analysis

With United Nations secretary-gener-al Kofi Annan facing unprecedentedpressure for his resignation over theinvolvement of his son in the Iraq oil-for-food scandal, the spotlight hasagain fallen on the finances of theglobal body he heads.

To say that the UN has a reputationfor hard-headed accounts manage-ment and all round probity would bestretching the truth. It is a labyrinthineorganisation with administrative tenta-cles crawling into some of the world’sdarkest corners.

It is tasked with sorting out theworst messes that humankind cooksup – political, environmental, military– and often has to work on the hoof inviolent and unstable conditions. Inshort, anyone expecting a balancesheet as tidy as Basel city council willinevitably be disappointed.

But that does not stop right-wingAmerican republicans from usingevery example of financial waste andmismanagement that emerges from theUN as a stick with which to beat theorganisation’s reputation. And althoughthis may be motivated by unilateralistparanoia about world government, itdoes keep the UN on its mettle.

Fortunately, there is an in-housewing of the United Nations taskedwith rooting out inefficiency and cor-ruption in its many departments, andthat is the Office of Internal OversightServices (OIOS).

Formed in 1994, it undertakes inter-nal audits, financial investigations,inspections, monitoring, evaluationand consulting services for all UNactivities under the secretary-general’sauthority. That includes the secretari-ats in New York, Geneva, Nairobi andVienna; the five regional economiccommissions for Africa, Asia and thePacific, west Asia, Europe plus LatinAmerica and the Caribbean.

Peacekeeping missions and human-itarian operations worldwide, alongwith certain activities of UN agenciessuch as the UN Environment Programme and children’s fundUNICEF, are also included.

But one area the OIOS is not investi-gating is the now-defunct oil-for-foodprogramme, which is being scrutinisedby an independent inquiry committeeheaded by former chairman of the USFederal Reserve and the current chair-man of the International AccountingStandards Committee Foundation, PaulVolcker. He released seven audits thisweek as part of his investigation. USpress reports claim that they raise questions over how the UN managedthe programme, and place fresh pres-sure on the organisation to overhaul itsmanagement. The OIOS’s role here ismainly to act as a UN contact point for

the committee, but it has supplied logis-tical and administrative support.

And its establishment does notmean the oversight office has beenineffective. Its recent annual reportclaimed that it had made 541 recom-mendations in 2003/04 on improvingefficiencies and unmasking corrup-tion, saving the world body US$26million through 153 audits.

This involved some high profilefraud cases, including one involving anhonorary representative of the UNHigh Commission for Refugees wasfound organising the buying and re-selling of international driver licences.

Indeed the office has in its 10 years’life uncovered and blocked manyexpensive scams. OIOS investiga-tions, for instance, revealed a stafferwho reaped $800,000 (£423,000)through fraudulent travel claims; he isnow serving a 41-month sentence andhas been ordered to pay back themoney. This will take time.

The office also uncovered the theft

of UN-owned equipment worth morethan $400,000 from UN missions inCambodia and Somalia by a contrac-tor. Most of the equipment was even-tually recovered.

Another investigation exposed howa UN Relief and Works Agency offi-cial used false refugee registrationnumbers to submit fraudulent medicalclaims, totalling $355,000.

Also, in a breathtakingly cynicalcase, the OIOS led a task force investi-gating bribery and extortion ofKenyan refugees seeking to be reset-tled. And an investigation revealed asenior staff member at the UN Conference on Trade and Develop-ment had embezzled more than$600,000 from his agency.

Clearly there are bad applesamongst the army of well-meaning do-gooders at the UN, which no doubthelps the fraudsters prosper.

In such an atmosphere it clearlyhelps to have an office staffed withsceptical and nit-picking auditors.Indeed, the OIOS is tasked with following the Institute of InternalAuditors’ professional standards, to‘assist the UN by identifying and eval-uating significant exposure to risk andcontribute to the improvement of riskmanagement and control systems’.

These assessments do not just focuson fraud. Plain old incompetence isalso included. One OIOS audit, forinstance, found that the cost of devel-oping a UN computerised integratedmanagement information systemunnecessarily increased by 169% overseven years. The office tightenedaccounting practices for the remainingcontract period.

Peacekeeping missions have been apriority area. The UN saved $1.7mannually in the 1990s for example, viaa recommendation to transfer UN central support functions for the former Yugoslavia from Zagreb toSarajevo. After an audit in anothermission, subsistence allowances werereduced to reflect the low local costsof living, saving $1.3m a year.

Given the breadth of its tasks the office is not lavishly staffed, with124 professional officers and 56 assistants. It has 27 residential auditorposts for peacekeeping missions and eight special investigators, also for peacekeeping.

The office is, however, well funded,being able to draw on $23.5m inresources in 1994 and, although$11.8m was funded from extra-budgetary sources, the office’s costsare enough to make it politicallyembarrassing if it fails to perform.

To read the UN’s official reports, go towww.un.org/Depts/oios/report&pub.htm

United in the fight against fraud

With the oil-for-food scandal sullying the United Nations’reputation,it is essential for the global body’scredibility that its internal auditors are seen to be effective in rooting out corruption,writes Keith Nuthall

CO

RB

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The internal audit office has uncoveredand blocked manyexpense scamsincluding a staffer who reaped $800,000through fraudulenttravel claims

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AccountancyAge 13 January 2004 www.accountancyage.com/analysis

Audit 9

www.accountancyage.com/audit

The world’s auditstandard setter hasissued newrequirements forthe way auditorsshould set out

their reports, in an attempt to give them international comp-arability while also catering for indi-vidual national requirements.

The new standard from the International Auditing and AssuranceStandards Board, part of the Interna-tional Federation of Accountants,chaired by fromer ICAEW president Graham Ward (pitured),establishes a new form of audit reportthat will separate out the requirementsof its own standards to those of different countries.

‘The European Commission askedthe IAASB to look at this project as amatter of urgency to contribute to harmonised audit reporting within theEU,’ said IAASB chairman John Kellas. ‘Many EU and other countriesrequire the auditor to report on mattersadditional to the financial state-ments, but these requirements differbetween countries.’

The solution put forward by theIAASB sees the emergence of a two-part report. The first part deals withthe company’s financial statements,and should be essentially the same forall audits conducted in accordance

with international standards on audit-ing (ISAs), which came into force inDecember. The second part, however,deals with any further matters thatmay be required by local regulations.

‘We thereby require comparabilitywhere it matters, while allowingappropriate flexibility to deal withlocal circumstances,’said Kellas.

He added that the board used theopportunity to strengthen some of therequirements of the standard. Forinstance, new guidance has been givenon the auditor’s consideration ofwhether an accounting framework isacceptable and on the need for the audi-tor to consider whether the financialstatements are misleading, even when

they comply with that framework.The new form of report is to be

applied to audit reports dated from theend of 2006. During 2005, the Audit-ing Practices Board will implement aversion of this standard as it applies toaudits in UK and Ireland, as part of itswork programme.

Late last year, the APB issued a suite of ISAs but it will continue towork on and finalise several othersduring the year.

However, technical director JonGrant said that the board’s main priority for 2005 was the establish-ment of standards and related guid-ance for accountants providing assurance services.

The existing regime under whichreporting accountants perform theirwork on investment circulars is under-going significant change due to theimplementation of the EC prospectusdirective in July and changes to theUK listing rules.

The APB intends to update currentstandards to comply with thesechanges and issue new standards on profit forecasts and pro-formainformation.

The audit page returns next month.Next week:corporate finance.Forbreaking audit news and to sign up forpractice and business newswires,go to www.accountancyage.com

With proposals on proportionateliability currently under considerationby the UK government,the Big Four isturning its attention abroad andseeking protection from legal action inother countries.

While the introduction ofproportionate liability would helpprevent catastrophe from futureactions in the UK,such as the £2.4bn claim facing Ernst & Youngfrom life insurers Equitable,it would not stop litigation thatoriginated from overseas.

Deloitte is currently being sued inthe US courts by the administrators ofItalian dairy Parmalat.

The $10bn (£5.3bn) suit,ifsuccessful,would destroy Deloitte.As a result the firm is,with others,trying to persuade US lawmakers toprovide some protection for auditorsagainst such claims.

Bill Parrett,global chief executivefor the firm,said that the cost of

litigation had been rising rapidly inrecent years and that US lawmakersneeded a better understanding of therisk inherent in the audit process.

He warned that the professionshould not fall below the currentnumber of four large firms.

As part of his plans for a secondterm,US president George W Bush haspromised that a reform of thecountry’s tort laws,which cover civilcases of negligence and deliberatewrongdoing,is on the agenda.

This may prove a relief to the BigFour as these laws are considered bymany to be outdated and damaging tobusiness,but the firms are likely tokeep the pressure on until somethingconcrete is provided.

‘Businesses need tort reform,’saidKPMG chairman Mike Rake,addingthat auditors were not the only onesaffected by a system that offered noconsequences for unsuccessful claims and was starting to spread toother countries.

‘The US legal system creates aproblem for the whole world,’Rake said.‘Currently 3% of US GDP is accounted for by litigation.Obviously we have to have a systemto redress this.’

New requirements foraudit reports on the way

Big Four seek protection from legal action overseas

IAASB aims to harmonise audit reporting within EU,writes Paul Grant

Reform call:KPMG’s Mike Rake

Those of youwho had toundergo theunusually crueltorture ofphysics atschool will no

doubt be aware of Newton’s thirdlaw of motion.This law statesthat every action must have anequal and opposite reaction.

Now I’m sure that most of youwill have heard this before, evenif you managed to skip science inyour youth,and frankly it doesseem to be entirely commonsense.Which makes me wonderwhy it has taken so long for theBig Four to cotton on to this fact.

I am,of course, referring to the circus that surrounded thepush for a liability cap last year,which has now resulted intalks on proportionate liability by contract.

All through this often-heateddebate, the Big Four and theICAEW highlighted the dangersin not providing greaterprotection to the country’slargest auditors.They arguedthat limits on how much theycould be sued for was essential to protect competition at the high end of the market.

But all through this thequestion kept coming back,whatdo we get in return? Investorswere particularly keen to see any protection combined withgreater responsibilities,moretransparency and a sytem thatensures that when somethinggoes deliberately wrong, thoseresponsible are punished.

To be fair to the profession, ithad said that it was open tolooking at the way auditorsoperate, but this review wasalways talked about happeningonce a cap,or liability limit, hadbeen introduced.

Now, I’m no master negotiator,but even I realise that yourposition is significantly weakenedif you have nothing in your hand.What guarantees werethere to investors that anythingwould happen if auditors gottheir way initially?

Which is why it seems thecurrent negotiations may have something to them.Proportionate liability is beingdiscussed in parallel with greaterresponsibilities and transparency.This includes the possibility of jail time for auditors who aredeliberately misleading.

With both sides looking likethey will finally get what theywant out of this process,Newton’s third law of motion has got things moving forwardonce again.Paul Grant edits the audit page

NEWTON DRIVESLIABILITYAGENDA

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AccountancyAge 13 January 2005

10 Technology

AccountancyAge 13 January 2005 www.accountancyage.com/technology

Practitioners maybe forced to down-load more securitysoftware onto theircomputers to dealwith programs

that are not normally picked up byanti-virus software or firewalls,experts have warned.

Ernst & Young partner AntonySmyth believes that many smalleraccounting practitioners ‘have nochoice’but to download some form ofsoftware to deal with ‘spyware’.

Spyware can be fairly harmless, inthe case of unexpected ‘pop-up’adverts on your internet browser.There are also extremely invasiveforms of spyware, which can lead to the internet browser being‘hijacked’, or installing programs thatcan steal information.

It could lead to the computer run-ning much slower than expected, asthese programs run in the backgroundwithout the user’s knowledge.

‘It’s a big enough problem to start tosee regulatory bodies step in to dealwith it,’added Smyth.

Iris Software technical supportmanager John Ralston suggested that

prudence was the best way foraccountants to deal with spyware andmalicious programs. ‘If someone isencountering a problem, whether theythink it’s spyware or not, then theyshould call us.’

He added that, if an anti-spywaresoftware product is used, such as Ad-Aware, then accountants should quar-

antine the problems first rather thanjust delete them, because of possibleadverse effects on the PC.

IT security specialists’ concernsabout spyware have been highlightedin a new report from the Home Office,entitled ‘The future of netcrime now –the threats and challenges.’

It found that, although spyware was

largely used for marketing purposes, it was a ‘potential hole’ in computersystems allowing unauthorised data access.

‘Increased computing power andinternet connectivity are two factorsthat continue to drive the commercialdevelopment of the worldwide web,with an increasing number of goodsand services online,’ the report stated.‘Thus we are faced with an increasing-ly populated online environment, rep-resenting a growing pool of victimsand offenders.’

The Independent Association of Accountants Information Technolo-gy Consultants has warned that spyware, which can adversely affectinternet-connected computers, is ‘irri-tating and obtrusive’.

‘The best advice for accountants isto prevent spyware getting onto yourcomputer in the first place,’ said arecent IAAITC article. ‘Windows Ser-vice Pack 2 includes upgrades to helpyou to do this. For a start it warns youwhen a website is trying to downloadfiles or software to your computer.’

For more about anti-spyware downloads go towww.accountancyage.com/downloads

Spyware sparks security fearsIT security specialists claim that small firms will need to beef up their firewalls and anti-virus software to prevent malicious attacks and unauthorised access to data,writes Kevin Reed

The Home Office: report highlighted the threats and challenges posed by netcrime

technology

FTSE100 software giant Sage hascontinued its long-term strategy ofacquisitive growth with the purchaseof Swiss-based software companySimultan.The £10.7m acquisitiongives Sage a stronger foothold in thecountry’s SME accounting andpayroll market.Migration optionswill be offered to Sage’s 59,000Swiss customers wishing toupgrade.Simultan posted £9.8m inrevenues for the year ended 2003,with an operating profit of £0.5m.Paul Walker,Sage chief executive,said:‘The addition of Simultan to ourexisting Swiss business establishesSage as the clear leader in the SwissSME market.’

British Airways Pension Services hasordered new internet-enabled BACSsoftware from Albany.The softwarewas primarily chosen because of itscompliance to BACS’new onlineBACSTEL-IP system.It will alsoprovide BA with faster reporting andtighter control over its electronictransactions.Jeff Gager,systemsdevelopment manager at BAPensions Services,said:‘We werevery keen to achieve compliance atan early stage in order to order toavoid a last-minute rush.’

ITbriefs

technology

010_AA_13Jan05 10/01/05 5:48 PM Page 10

People 11

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PRACTICE Mark Newman, formerly a directorwith Smith & Williamson, joinsVantis Business Recovery as aregional director. He will beresponsible for businessdevelopment, business rescue plansand providing specialist support to individuals or companies infinancial difficulties.

The Leeds office of RSM RobsonRhodes has expanded its corporateadvisory services division with theappointment of Mark Robson as asenior manager within the corporaterecovery team. Robson will focuspredominately on liquidations,voluntary arrangements andbankruptcies. He joins from Deloittewhere he was senior manager incorporate recovery.

Glazers chartered accountants has promoted its audit manager,Jessie Kho, to audit partner. Joiningin 2003, Kho gained considerableexperience from running her ownaccounting practice in Ealing as well as working for a top four firm in Malaysia.

Mazars’London office has madethree new appointments within its corporate recovery andinsolvency services team with all

three joining from Deloitte. CiaranTeague joins as manager to CRIS, aposition he previously held with Deloitte, whilst MandyPatel and Suzanne Boyle both join as administrators.

Former Grant Thornton tax managerWarren Munson has left to formInspire, a chartered accountants andchartered tax advisory firm.Munson said: ‘Some may “laugh” atthe fact that an accountant can beinspiring, but Inspire represents anew breed of adviser.’

Kathryn Moran and Gerry Collinshave joined Wingrave Yeats asbusiness advisory and assurancepartners, both previously generalpractice partners at Morley andScott. Christopher Jenkins, seniorpartner, said: ‘We are delighted andexcited by these new appointments.’Wingrave Yeats was voted ‘Bestmedium-sized firm of the year’ inthe Accountancy Age Awards.

BUSINESSEMI, the world’s third-largest music company, has appointedformer BSkyB finance head Martin Stewart as chief financialofficer. Former CFO Roger Faxonhas been promoted to president andCOO of EMI Music Publishing,with a view to taking over as CEO in 2007. Stewart was appointedCFO of BSkyB in 1998, havingserved as head of commercialfinance for two years. Prior to thishe spent two years as financedirector for PolyGram FilmedEntertainment.

Scottish Power group financedirector David Nish has been namedthe energy group’s newinfrastructure director. The searchfor Nish’s replacement has alreadybegun and Scottish Power is lookingat both internal and externalcandidates.

Health and wellbeing companyFirstAssist has appointed SwagMukerji as its group FD. Joiningfrom medical devices companyBiocompatibles International,Mukerji previously held the position of FD at Homepride Foods and general manager of KP McVities.

Mobile phone company 02 haspromoted its chief financial officerMatthew Key to chief executiveofficer, following the resignation of Dave McGlade from the CEO’spost. Key, formerly operationsfinance director at Vodafone, is also chairman of 02’s Tesco Mobile joint venture.

FTSE250 financial services firmSinger & Friedlander has namedWarwick Jones as finance directorand COO. Jones was former FD ofLeopold Joseph Holdings until itsacquisition by Bank of Butterfield.He has also held senior financialroles at Bradford & Bingley andLloyds TSB. Jones succeeds TonyShearer, the firm’s new CEO

Kevin Reed and Rachael Singh edit thepeople page.Fax news to 020 7316 9250or email rachael_singh@vnu.co.uk

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With university tuition top-up feeslooming,several young accountantshave demonstrated how to launch acareer without the expense of a degree.Joanna Hirst,Clare Mounsey andSharon Carr,all 24 years old,havepassed their final chartered accountantsexam after six years of training atCarlisle accountants ArmstrongWatson.Hirst was also named topstudent in the final exams for the wholeof the northern society region.

Not to be outdone by the women,IanBavill,25,from the ArmstrongWatson’s Leeds office has also passedhis final exams.One in four partners atArmstrong Watson are women,compared to an industry average of lessthan 10%,according to the equalopportunities section of AccountancyAge’s 2004 Top 50 accountancy firmspoll.Armstrong Watson humanresources partner Sue Kirkham said:‘Armstrong Watson is proud of theopportunities it is able to offer its staff.Talent and commitment will always winout,and we are pleased that we havebeen able to help and support our fouryoung guns in their chosen career paths.’

Hatrick:Success with no degree

011_AA_13Jan05 10/01/05 4:47 PM Page 11

12 Opinion

AccountancyAge 13 January 2005 www.accountancyage.com/comment

Falling short of expectationsIt’s only week two and accountancy’s overriding themefor 2005 already appears enshrined. At the risk ofsounding like a Daily Mail opinion piece, ‘UnlessSomething Is Done’the skills shortage risks holding backfirms, their clients and – on a more macro level – UK plc.

The new year has seen a flurry of research thatreinforces these very real fears. Released this week, thelatest monthly report on jobs from the Recruitment &Employment Confederation and Deloitte found that theavailability of candidates to fill vacant positionsdeclined for the 14th month running in December.

It’s a trend that reinforces research published byAccountancy Age and Allied Irish Bank last week,which revealed that more than one in three accountantsbelieves a skills shortage is the biggest barrier tobusiness performance. The figure is up 10 percentagepoints on a year earlier. It was a problem from Cornwallto London and from Birmingham to Leeds.

It’s no wonder the government is worried. And thoughhe is one of life’s worriers – if his public pronouncementsare anything to by – the CBI’s Digby Jones is fearful too.

And they are right to be concerned. All of us shouldbe. Especially those whose businesses – or departments– operate in a sector wholly reliant on the quality of itspersonnel. Accountancy firms and finance departmentsare only as good as the people who staff them. Andthat’s why they face the biggest problem.

Indeed, as the Recruitment & EmploymentConfederation and Deloitte survey showed, theexecutive and professional sector has recorded thestrongest growth in demand for permanent staff.

For some it’s good news. Last week, specialistrecruitment consultancy Michael Page reported a hikein UK fourth-quarter revenues of over 20%. Withdemand for experience in Sarbanes-Oxley and IFRSonly increasing, that’s unlikely to change any timesoon. But if good-quality candidates aren’t out there,recruitment consultancies will be held back too.

There is, of course, no quick fix. But there is a cryingneed to look beyond the short term. Governments haveto look beyond the next election (or two) and businessbeyond the next economic cycle. Accountancy firmsneed to make sure redundancies are really necessarythe next time the professional services sector dips.

For now, businesses can do little apart from plug thegaps – hiring from other countries and other sectors,retraining existing staff and – that most unedifying ofstaffing solutions – poaching.

Email comment@accountancyage.com

Schools are failing employers by not educating to a basic level,writes Neil Bentley.But business must train staff too,replies Brendan Barber

Taking away from employersAs employers ofschool-leavers andcollege graduates,business is pas-sionate aboutimproving educa-

tion and ensuring that employees arehighly skilled. The value of a skilledand motivated workforce is moreimportant than ever, as globalisationdemands that business adapts quicklyto new economic challenges.

Employers fully recognise that theyhave the prime responsibility for train-ing their employees to be competent intheir jobs, and they invest massively inthis. British business spent over £23bnin training in 2000 alone, and this isincreasing every year. Employers areproviding an increasing number ofapprenticeship opportunities for

school-leavers and are proactivelyworking through sector skills councilsto establish future skills needs, anddesign the vocational courses andqualifications that will be required.

But it’s not the job of employers topick up the pieces where individualsare failed by the education system.

When employers recruit staff, thebasic criteria are always the same.Young people must have at least basicliteracy and numeracy and a positiveattitude towards work and learning.Without these, it is impossible forthem to thrive in the world of work.That’s bad news for them and foremployers.

Whilst some of the highest achiev-ers are doing better than ever, the gapbetween them and those who leaveschool unable to read, write, add up

and communicate clearly haswidened. In 2004, over 40% of GCSEcandidates did not achieve five passesat grade C or above – the minimumstandard employers regard as an indi-cation of basic literacy and numeracy.

As result, many employers aredoing the job of schools – a third of companies say that they now haveto provide remedial literacy andnumeracy training.

Business is, of course, willing toplay a constructive part in the effort toimprove skills and improve the qualityof training. But it’s up to governmentto ensure school-leavers are equippedto make the most of the opportunitiesthey are presented with. They needthat and the country needs it too.Neil Bentley is head of employmentand skills at the CBI

thedebate

There is no doubt that there is a realneed to rebuild Britain’s skills baseand the government has laid strongfoundations to do just that. The national skills strategy, launched in thesummer of 2003, sets out an ambitiousplan, which has the full support ofunions and employers.

One of the strategy’s key aims is topromote a culture of learning at workto meet the needs of both employeesand bosses. The trade union move-ment is leading the way. An army oflearning representatives has beentasked with identifying the trainingneeds of their colleagues and helpingthem find the courses that suit them.

There is a lack of equality in thetraining system at the moment. Some-one with no qualifications is five

times less likely to receive trainingthan someone with a degree.

One of the most important new ini-tiatives has been the creation ofemployer training pilots. The pilotsallow employers to give staff, whohave few or no formal qualifications,paid time off to train for a qualifica-tion during working time.

The employer training pilots havebenefited both business and workers,and the TUC welcomed the recentannouncement from the governmentthat it is to extend the programmeacross England from 2006.

The TUC is also pleased at the gov-ernment’s recent decision to relaunchand expand apprenticeships to rebuilda quality vocational route for youngpeople. The proposals of the working

group, led by Sir Mike Tomlinson, tointroduce a new diploma system forsecondary schools in England willfurther enhance the vocational route.

Under the new proposals all youngpeople would leave school with basicskills in essentials such as literacy andnumeracy, whether they opt for anacademic or a vocational route, or amixture of both. The TUC is stronglyrecommending that the governmentdoes not water these proposals downto appease some employer groups.

The skills Strategy can deliver realbenefits for employees and the widereconomy in the coming years, but it iscrucial that we all continue to supportthe next phase of these policy reforms.Brendan Barber is general secretaryof the TUC

Adding to those who need it

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Letters 13

www.accountancyage.com/readerscomments AccountancyAge 13 January 2005

The post-New Year silly seasonflushed out a dubious survey abouthow high-achievers at school go onto take high positions in industry. Itdidn’t name anyone famous, butquickly became a talking point.

Of 105 business leadersinterviewed, 70% claimed to havebeen school prefects and 50% said they had captained theirschool sports teams.

I suspect that most boardroomleaders were late developers whodid not excel at school. JP Garnierof GlaxoSmithKline is a goodexample. He was a rebel at school,yet still rose to become CEO of oneof the world’s biggest companies.

I put in calls to old boyassociations at Harrow andWinchester. One Old Harrovianbusinessman who sprang to mindwas Julian Metcalfe, co-founder ofPret A Manger, who, according toformer teachers,‘didn’t do thatwell’. John Duffield, the millionairefund manager,‘hated’ Harrow.

Famous Old Wykehamists toexcel in business include SirJeremy Morse, past chairman ofLloyds Bank, who was head ofschool and ‘won every prize going’.

Another high achiever wasMurray Lawrence, later chairmanof Lloyd’s of London. He wascaptain of cricket at Winchester.

Michael Mclintock,43-year-oldchief executive of M&G, the fundmanager,was head of school andcaptain of cricket at MalvernCollege in Worcestershire. LordMacLaurin of Knebworth, the manwho revitalised Tesco in the 80swas also a Malvern cricket captain.

There are many more examplesof school drop-outs who went on tobecome billionaires, Sir RichardBranson not least among them.

Claims of youthful achievementsshould be treated with caution.Toquote an old Polish proverb:‘Onlythe future is certain; the past isalways changing.’Jon Ashworth is business featureseditor at The Times

Jon Ashworththe corridors of power...

Stop sniping andbe constructiveIt is all very well Caroline Pritchardaccusing the ICAEW president ofbeing ‘economical with the facts’onthe proposed merger (6 January,page 13), but surely she shouldcheck them first.

While I agree with her commentthat ‘no accountant wouldrecommend a merger to clientswithout detailed business plans’, itmight have been better if sheunderstood the stage reached in theprocess.

For the first time in my memory,members have been consulted on astrategic review and on possiblestrategic actions. In my opinion, it is very good that we are beingconsulted on these matters, althoughsome members find it difficult todiscuss broad principles withoutknowing the very last detail. Ifcouncil accepts the results of thepolls and surveys, then that would be the time to prepare detailedprojections.

No plc would contemplate amerger, or even a substantialtakeover, without consulting majorand institutional shareholders beforeputting in all the detailed work that is required.

Pritchard is very dismissive – ‘just waffle about vague benefits’– but the future shape of the neworganisation is going to be veryimportant in 20 years. If Pritcharddoes not like the institute today, then I have to concede that it is mygeneration’s fault. If she does not likeit in 20 years’ time then it will be hergeneration’s fault.

So instead of sniping from thesidelines, I suggest she gets involvedand understands what is going on.David M Hunt, Nottingham

It’s a case ofmistaken identityI refer to the article in AccountancyAge, ‘CA gets 12 months for taxfraud’(16 December, page 3).

May I point out that the CAdesignation is reserved exclusivelyin the UK for members of The

Institute of Chartered Accountantsof Scotland (ICAS).

The use of CA in your headlinesuggests that the article is referringto a member of ICAS.

It is not until the fourth paragraphthat you clarify that it is an ICAEWregistered chartered accountant.Martin Robertson, ICAS PR Manager

Struck offI attach a copy of an email I sent to the ICAEW and the reply that I received, which may be ofsome interest to readers of Accountancy Age.

Dear Sir,I refer to the subscription renewal

notice and wish to advise you that itis my intention to withhold paymentof all dues to the institute until the

outcome of the proposed mergerwith is known. If unfortunately, themerger goes ahead then I do notwish to waste my money byrenewing my membership.Yours sincerely, M A Choudhury

Dear Mr Choudhury,Thank you for your mail to Mr Izza.We are unable to agree to adeferment of the payment of yoursubscription for 2005. If payment isnot received by 31 March then yourmembership will be ceased as perBye-law 1.104 ‘Cessation ofmembership will be made against themember if he/she fails to pay his/herannual subscription by 31 March inthe year which it became due’. Ifyour membership should cease thenyou would not be able to call yourselfa chartered accountant nor use thedesignatory letters after your name.MA Choudhury, via email

As you wereWhen the proposed merger goesthrough and the new name becomesThe Institute of CharteredAccountants, will we all be TICAS?

Back to where we all started then! Mike Hirst FCA,West Yorkshire.

There are many moreexamples of schooldrop-outs who went onto become billionaires,Sir Richard Bransonnot least among them

With regard to the letter from GN Wilson of Croydon (6 January,page 13) and the Inland Revenue’s form 64-8 problem,I would advise him thus.Forms 64-8 are meant to be entered ontheir computer system when received and then ‘filed’in a backoffice.It is not surprising that some of the forms go missing andthat some are not entered onto the system.

But there is light at the end of the tunnel.After a meeting witha member of a subversive group within the Revenue last year,Inoted it is looking to improve procedures,which may involve theoption to complete forms 64-8 online!

With regard to refunded fees from the Revenue,I have beensuccessful on a number of occasions.The Revenue’s view is that itwill only deal with the taxpayer – agents get in the way.But if youget agreement from the Revenue in writing that it will pay yourfees back to the taxpayer once he has paid them,it is possible tobill the taxpayer,receive a cheque from the client and then send acopy of the invoice to the Revenue with confirmation that youhave received payment from your client.The Revenue will thensend a cheque off to the taxpayer.Simon Lever, via email

Seeing the light: out of the gloom comes a little hope from the Revenue over forms 64-8

Contact Rob Graham on FREEPHONE 0800 622826 orEmail: rob.graham@datawatch-europe.com

www.datawatch-europe.com

Helping organisations manage corporate data and processes to meet compliance objectives.

Report-based analysis and management solutions which integrate with existing reporting systems to transform any report into live data,

without programming.

Business Intelligence · Enterprise Reporting · Data TransformationService Management Solutions

Business Intelligence · Enterprise Reporting · Data TransformationService Management Solutions

Send letters to:The Editor,Accountancy Age,VNU,32–34 Broadwick St,London W1A 2HGTel:020 7316 9032 Fax:020 7316 9250or: letters@accountancyage.com

Accountancy Age reserves the right toedit letters. Please send letters includ-ing your title, company name, locationand a daytime telephone number. Findout what readers are saying on a rangeof topics by visiting www.accountancyage.com/readerscomments

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It is a cruel twist of fate that a common NewYear’s resolution to make a better impact atwork follows so closely on the heels ofChristmas, the time of year when so manywardrobes are freshly restocked with Disneycharacter ties and socks and wonderful knittedjumpers from dear Aunt Jessie. Add to this theside effects of what is almost a month ofoverindulgence and very few of us start a newyear back at work looking our best.

And yet looking your best at work reallydoes make a difference. Successful businesscommunication works on both a spoken andunspoken level, so to gain the maximumimpact – especially in a client-facing role –your image should reflect and reinforce thecorporate brand.

First impressions really do count – researchhas shown that it takes a further 21 interactionswith someone to change an opinion formed ona first meeting. Even though wearing smartclothes and taking pride in your appearancedoes not mean you are better at your job thansomeone who does not, looking well-groomedwill always convey professionalism.

Paying attention to the details of yourappearance portrays a confident businessimage, and one people are more likely to trustand respond positively towards.

Dress to impressThe first and most obvious consideration iswhat to wear. This is a key element in meetingthe expectations of the client or businessassociates. The issue of image is a complexone but a key factor is the so-called ‘triangle ofinfluence’. This is drawn with its point at thecentre of the breastbone to form a triangle,which takes in the head.

This area is critical since most people’s eyeswill be drawn to this and it is vital you enhanceit as much as possible. An unflatteringhairstyle or dandruff on clothes willundoubtedly make for a hot topic forconversation – for all the wrong reasons. Bycontrast, a carefully chosen look in a style andcolour palette that complements your featureswill help you to be taken seriously andrespected by those around you.

Make-up adds gloss in the workplaceThe question of make-up is a thorny subjectfor some businesswomen, particularly if they

believe that wearing it potentially places themin a subservient role to men. However,research by The Aziz Corporation has shownthat 56% of UK directors believe that womenwho wear make-up look more professional.Furthermore, 35% of directors say that women who don’t wear make-up look like they ‘can’t be bothered to make an effort’, anda quarter are more likely to employ a womanwho wears makeup.

Beards are bad for businessMen are not exempt from scrutiny when itcomes to facial appearance. Beards, it seems,are bad for business. The same research found that facial hair is regarded as untidy by39% of directors, and a third of clean-shaven(and 17% of bearded) company directorsbelieve that there is a prejudice against menwith beards in business.

Even people who have perfect hearing relyon mouth movements to aid comprehension,

and since beards may obscure your mouth theycan make this difficult. Beards can also easilylook unkempt, so those that choose to sportone should take particular care to ensure that itis kept trimmed and tidy at all times.

Don’t let your career go up in smokeIt’s not just a matter of looking good. The wayyou smell also contributes to how othersperceive you. In the last ten years, smokershave become the pariahs of the Britishworkplace. Having already been shuntedoutside to huddle in office doorways whenthey want a cigarette, they are now findingeven the smell of smoke on their clothes, hairand breath is frowned upon.

Research by The Aziz Corporation showsthat 90% of British bosses feel that smelling ofcigarette smoke during office hours isunacceptable. In fact, reeking of the evil weedtopped the list of bosses’pet hates and wasconsidered even more unacceptable thanhaving tattoos or male employees with longhair. Smokers should be aware that evenstubbing out just before they go into a meetingcan still have a detrimental effect and theyshould consider whether they should besmoking at all during office hours.

Get attention for the right reasonsWhilst the area inside the ‘triangle of influence’is vitally important, care should also be taken toensure that clothes and shoes do not offerdistractions either. No matter how powerfulyour presence, people’s attention will alwaysbe drawn to scuffed shoes, too many patterns ora garish tie. Many people have an innate senseof what looks good, but it may still be worthseeking advice from an impartial source. Thisallows you to explore new styles or previouslyuntried combinations and offers a freshperspective on the best look for you.

Look good to feel goodA good outfit is something that you feel makesyou look good. But in a business environmentyou want to be noticed for your work not yourtaste in clothes, so whilst it is obviouslyimportant that you feel comfortable in whatyou wear to the office, your attire must alsoproject the right image.

Taking care over your business image willnot directly improve your day-to-dayperformance, but it will boost yourconfidence, which in turn will affect yourinteractions with others and allow you tocommand their respect. This is likely to meanyou will be more successful in your job andhence a more valuable asset to your company.Khalid Aziz is chairman of The AzizCorporation

insiderNEEDA NEWYEAR POLISH?

BUZZWORD SMELL TEST INSIGHT VALUING NON-FEE EARNERS PROFILE GREGG’S FD ON SOFTWARE AND SAUSAGE ROLLS

With the festivities over youmight be feeling a bit rougharound the edges.Khalid Azizoffers some timely tips onbuffing your professional image

56% of UK directors believethat women who wear make-up look more professional.Furthermore,35% of say thatwomen who don’t wear make-up look like they ‘can’t bebothered to make an effort’

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AccountancyAge 13 January 2005 www.accountancyage.com

insider16 Profile:Malcolm Simpson,the man in charge of Greggs’bread

USINGHISLOAFIn his 30 years spent controlling the finances of bakery retailerGreggs,Malcolm Simpson has seen the firm rise from small chain to FTSE250 stalwart.He talks to Brian Moher about his fear of sausage rolls and the healthy approach that both he and the company are taking to future challenges

Greggs FD Malcolm Simpson explains hisreluctance to be pictured chomping into asausage roll. Talking from behind the tillduring a photo shoot at a Soho branch of thefamous bakers, he says: ‘None of us will do itbecause it leaves us open to “fat cat” headlinesfrom mischievous editors.’

To be fair, Simpson’s £257,000 total pay isrelatively low compared to his FTSE250 peers– particularly considering he is the mostexperienced among them.

Simpson took over as FD in 1974 and isnow in his 31st year in the job – a feat that sawhim top a recent league of ‘old timers’ inAccountancy Age’s sister publication,Financial Director.

Helpfully removing the need for apotentially awkward question, he introducesthe topic himself. ‘Someone was telling mewith great delight that I was the oldest andlongest-serving FD in the FTSE 350,’says the62-year-old. ‘I don’t mind.’

He has no plans to retire just yet. ‘I’m veryhappy and proud with what I’ve done andunlike most of my friends, who have retired, Istill enjoy going into work every day. I’ll gountil I’m 65 – there’s a massive amount tointerest me and to keep me going.’

The records Simpson is keenest to talkabout, however, are unrelated to how ‘long inthe tooth’he has become.

First, there is the extraordinary growth ofthe company he joined in 1973 – from ahandful of shops to a FTSE250 giant withplans to conquer the continent with sausagerolls and Cornish pasties.

‘I was made financial director of a verysmall 28-shop company. Now it’s 1,260,’hesays. The goal is to reach 1,700 by 2010 and –ultimately – 2,000. Four ‘pilot’branches havealso landed in Belgium, and Simpson confideshe would like to take the brand stateside.

The veteran FD pulls out the company’sglossy annual report to illustrate the nextrecord that fills him with pride.

His finger points at a graph showing that – with one exception in 1991 – earnings pershare and dividends have risen every yearsince Greggs’flotation in 1984. ‘There are notthat many companies with that sort oftrajectory and length of growth,’he says.

But these days, a very different type ofgrowth provides one of the big challenges –that which occurs around waistlines.

Greggs is fighting to show it still has a placein a world where dire warnings about anobesity epidemic fill the airwaves and itstraditional fare of fat and salt-laden pastriesand sugary iced buns are vilified as publicenemy number one.

Simpson, who confides that another reasonfor his reluctance to chomp into a sausage rollis that he is on a diet, acknowledges the needfor change. He points to Greggs’new lowcalorie ‘Just’sandwiches, without condimentssuch as mayonnaise, and salad-based‘Lifestyle’range.

But he strongly rejects proposals floated lastyear for a ‘fat tax’and defends the right tochoose enjoyed by the vast majority of Greggscustomers, who turn their noses up at thehealthier ranges.

‘I think the most important thing is to allow people to have the choice and then tosignpost the choice very clearly in terms of,perhaps, colour coding so that people don’thave to examine minute labels to see what it is they want.’

But there is no escape from the nanny stateand he admits Greggs is looking at ways ofcutting salt and sugar, even in its standard fare.

Simpson is confident that the company willride out changes to the way people eat and histrack record gives grounds for confidence.

After qualifying with KPMG in 1964, and aspell with Proctor & Gamble from 1965 to1973, he joined Greggs with a view to puttingwhat he had learned into practice.

Simpson immediately demonstrated a talentfor moving with the times, driving through the

THE ECCLESCAKECONTROVERSYGreggs courted controversy inOctober when the town ofEccles reacted with fury to itsdecision to drop the Ecclescake.The ailing product hadalready been scrapped at manyoutlets,but the final straw camewhen it disappeared from abranch on the very street whereJames Birch first sold thetraditional snack in 1796.

Salford council launched aprotest by munching their waythrough 60 Eccles cakes attheir monthly meeting.The

local radio station launched a‘let them eat Eccles cake’campaign,which spawned a‘national Eccles cake day’.Even the local MP got involved,taking part in an Eccles cake stacking competition with the Mayor.

Simpson says the decisionwas taken at regional level byone of Greggs’12 operatingdivisions,but he backs them tothe hilt.‘The decision was quite right in my opinionbecause in any business you’vegot your winners and you’ve gotyour losers.

‘It’s unfortunate because Ithink it was a great product butit wasn’t selling and particularly

it wasn’t selling in Eccles.‘It did get a lot of publicity

which probably attracted moretrade and we said immediatelyif the Eccles public wanted toturn out we would be happy toreintroduce it,but there hasbeen no turnout so far.’

The same month Greggsrevealed it had raised prices by2.4% in the 18 weeks to 18October and said the upwardtrend was likely to continue.

The situation was due tofactors such as the risingminimum wage and increasedprice of pork and gas,which ituses to fire the ovens thatproduce two million sausagerolls every week.

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replacement of mechanical computers withtheir modern day electronic equivalents.

‘This will certainly date me,’he says. ‘When I went in, the largest machine they had was a comptometer, a sort of metal boxwith keys sticking up rather like the oldfashioned typewriter.

‘There was a Kalamazoo book systemwhich, as old timers like me will remember, isa sort of handwritten ledger system thatcarboned through. But in 1976, I suggested to(then managing director) Ian Gregg – and hebravely followed along – that we put in realcomputers. I’ve always been responsible forboth IT and finance and taken a very stronginterest in both.’

In fact, Simpson’s involvement intechnology even extends to software design.

Chatting to a shop assistant during the photoshoot at Greggs, he discovers with evident

pleasure that both helped develop the tillsoftware: he contributed to the initial designand she tailored it to her branch.

‘Transactional systems really aren’t rocketscience. Where you need sophistication is inanalysis of the data and there we’ve transferredto a sophisticated Oracle database. But we arequite unusual in that we programme just aboutall of our systems inhouse,’he says.

There has been no shortage of upheavalduring Simpson’s tenure. Greggs faced stiffcompetition from supermarkets with new in-store bakeries in the eighties.

It survived by shifting focus to freshsandwiches and other takeaway products totake advantage of its outlets’proximity tooffice workers. By 1984 Simpson was able tooversee the flotation that put the company inthe FTSE250.

Another major shift has been the

burgeoning of regulation. ‘That is growingenormously and it’s very stifling and detractsfrom the time that one could spend reallymanaging the business and moving it forward,’says Simpson.

He lets slip a spot of nostalgia for simplertimes. ‘I enjoyed very much what I was doingin those days and things have become a littlemore sophisticated now, but one was able toprogress quite quickly. Sometimes simplicityactually has a merit all of its own.’

He remains surprisingly unruffled by theonset of international financial reportingstandards, which he says do not affect Greggsas much as other companies because of thecompany’s relatively simple, integratedbusiness model. The company does all its ownmanufacturing, transportation and sales.

The only major impact will be IFRS2,relating to employee share options, because ofa long-standing company policy to hand 10%of pre-tax profits back to employees. But hesays that even that will affect the P&L by just£100,000 per year, against a profit of £40.5m.

For anyone looking to emulate the kind ofstaying power that Simpson has evidentlymastered, he has one key piece of advice. ‘Thething to guard against is the old saying “we’vealways done it that way”. You’ve continuouslygot to be on guard against that,’he says.

Equally important is interaction withcolleagues. ‘They certainly wouldn’t allow meto become a pontificator. There would besome derision coming in my direction if theywere to feel I was getting ossified in the job.’

He says the increasing tendency for FDs tomove from company to company is a ‘sadreflection’, though he accepts it may belegitimate early in a career to build up aportfolio of experience.

‘I like being with the business for the longterm and I like doing things that won’t seeprofit or results this year, but the year after oreven the year after that. I do like to keepploughing back into a business. It’s likenurturing plants – you get a long-term growth.’

And Simpson emphasises the value ofexperience. ‘It does help you to short cutthrough a lot of things because you have seen asimilar situation before and can get to theanswer quickly.’

It almost comes as no surprise that, when hecloses the office door at Greggs behind himfor the last time, Simpson will not be headingoff to tend his vegetable patch.

‘After I retire I would like to get involved asan adviser or non-exec with smallerbusinesses, but as a freebie not for reward. Idon’t want to spend too much time becauseI’ve had a long career. But I would like to put alittle bit back and help advise people who arestarting the journey that I’ve been through.’

www.accountancyage.com AccountancyAge 13 January 2005

Profile 17

‘After I retire I would like toget involved as an adviser ornon-exec with smallerbusinesses,but as a freebienot for reward. I would like toput a little bit back’

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United Nations’ internal fraud-busting unit faces some toughchallenges in the wake of the oil-for-food programme,page 8

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A firm’s people are fundamental to itssuccess. And it has long been recognised thatany leader – whether a managing partner,chief executive or practice director — has torely on management disciplines if the firm isto achieve its goals.

As the war for talent gathers pace, it’s infirms’best interests to attract, retain andprovide a motivating environment for the‘unsung heroes’occupying management rolessuch as finance and marketing.

But in reality, there’s a distinct perceptiondivide between a firm’s partners and those‘non-fee earners’.

By failing to recognise their contribution,accountancy is in real danger of losing out toother sectors, such as financial services, foremployees who are so central to their success.This will become even more pertinent giventhe serious talent shortages currently facingthe profession and other competitivechallenges, such as the ongoing drive towardsgreater regulation.

It always used to be the case that partnerswould step into these management roles, butgradually this came to be seen as a poor use of valuable partner time, not to mention arisky exercise, as the actions of over-enthusiastic amateurs could result in costlymistakes for the firm.

At the same time, the leading professionalfirms have grown rapidly over the last 20years into complex businesses employingmany thousands of people, driving the needfor greater focus on ‘the firm’rather than on‘the partners’.

In theory, a partnership stands forcollaboration and team work: in practice many partners are highly competitive animals, heavily focused on client-basedfinancial measures to determine relative status and reward. So it’s hardly surprising that those who neither directly bring in feesnor deliver services to clients are referred to inunhelpful terms.

The language used to describe ‘non’partners or ‘non-fee earners’ is in itself highlyemotive, and indicates that the roles are notimportant or valued.

Non-chargeable suggests that it is less

AccountancyAge 13 January 2005 www.accountancyage.com

insider18 Insight:war for talent

WHATAre the non-fee-earners inyour firm regarded as second-class citizens? If soyou’re not alone.But with thewar for talent now a reality,competing for the best recruits means recognising thevalue of all professionals.EdSmith and Richard Chaplin say it’s time to recognise yourfirm’s unsung heroes

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Insight 19

relevant than chargeable, and while it probablyis if you are an audit manager, it mostdefinitely is not for a business group head.

Differentiation between fee earners andnon-fee earners, and talk of ‘support staff’and‘non-accountants’all reflect the culture of thepast. Even in a firm where the terminology hasbeen changed, it can persist, deeply rooted inpeople’s minds.

The notion that bringing in fees anddelivering client service are superior to allother roles when evaluating contribution to abusiness is probably unique to the profession.CEOs of top commercial organisations are notexpected to join the production line, servecustomers over the counter or answer callsfrom the general public.

Their role is to articulate and promote theorganisation’s strategy, manage relationshipswith key stakeholders including employeesand clients, and foster an environment andculture where everyone gives their best. Isn’t ittime that accountancy firm leaders provided asimilar contribution to the business?

The huge growth of firms over the pastdecade and the management challenges thataccompanied it meant that hiring a cadre ofspecialists in areas such as marketing, finance and HR was no longer a luxury – itbecame a necessity.

Finance partner and similar roles have been

retained, but with a new emphasis on makinglife easier for their hired professionals.

Attitudes towards such staff may bechanging – there are many leading firmswhere they are now recognised as critical teamplayers – but the second-class citizensyndrome still exists in pockets (and somelarge pockets at that).

These ‘unsung heroes’– marketing, HR,finance, IT, facilities and knowledgeprofessionals – should more accurately becalled ‘practice management professionals’.And the term ‘fee earner’with its emphasis onbilling should be replaced by the term ‘clientservice professional’, while recognising thatour unsung heroes serve internal clients.

Some firms are reticent to disclose ratios ofclient service professionals to practice

management counterparts, on the grounds thatit is ‘commercially sensitive’, ‘inconsistentwith other tables’or ‘does not compensate foroutsourcing’. Nonetheless, our research showsthat the 36 firms employing at least 130 clientservice professionals between them employeda total of 12,509 practice managementprofessionals, or 20.8% of their headcount.

The growth in the proportion of practicemanagement in 20 years has beenphenomenal. In 1984 when ethical constraintswere lifted, there were just a handful of nonaccountants responsible for marketing in UKaccountancy firms, compared with more than1,100 in the top 36 firms today.

Demand continues to grow as larger firmsbeef up their divisional capacity and medium-sized firms recognise that it makescommercial sense to hire more practicemanagement professionals, especially nowthere is a pool of talent in larger firms lookingfor a new challenge or greater autonomy.

Most partners now recognise that it wouldbe nigh on impossible to manage a modernprofessional firm without involving dedicatedpeople from finance, HR, marketing, IT andother disciplines.

Their participation assists a firm to achieveits fee and profit targets and to ensure thatclient service professionals’ time is spent inthe market with clients and prospects.

Against a backdrop of increased regulation,ever greater focus on technical andprofessional training to support quality, andhuge demand for qualified professionals inpractice, corporate and public sector worlds,an effective cadre of practice managementprofessionals is vital.

It is critical that accountancy firm leadersdo not promote the MPF campaign in negativeterms, as partners hate to be demonised. Showthem how the firm will be changing toencourage better behaviour on both sides.

Embedding in your firm’s unsung heroes agenuine sense of self-worth and a realisticunderstanding of what they contribute andwhere they really fit in is equally important.

We advocate firm leaders across the boardto recognise ‘horses for courses’and make areal effort to praise their own practicemanagement professionals – as well aspartners – on a regular basis.

Avoid making potential recruits feel likesecond-class citizens before they walk throughthe door. Make unsung hero recognition yourfirm’s official policy.

If you work for a firm with ambition, makea stand and join the revolution.Ed Smith is a senior partner of PwC and acommittee member of the Managing Partners’Forum. Richard Chaplin is executive directorof the Managing Partners’Forum.

Most partners now recognisethat it would be nigh onimpossible to manage a modernprofessional firm withoutinvolving dedicated people from finance,HR,marketing,IT and other disciplines

ABOUTTHEWORKERS?THREE STRATEGIES TORECOGNISING YOUR FIRM’S‘UNSUNG HEROES’

1.Communicate with the whole firmFirms send out hundreds of press releases onclient engagements,partner promotions,newoffices and the like.Yet all too often theappointment of a senior practice managementprofessional merits nothing more than an internal memo.

2.Give the right message to potential recruitsA recent advertisement for a senior practicemanagement professional included the commentthat the role would be ‘the most importantposition in the firm after the partners’.The firmmay have meant it positively,but many candidates would have taken it as instantconfirmation of their second-class status andlooked elsewhere.

3.Praise successTalking about a problem is easy:showing others that you care is far harder.There are ways for a firm to publicly show how much itappreciates the efforts and contribution ofpractice management professionals to thebusiness.For the past three years,the Managing Partners’Forum has organised theannual European Practice Management Awardsto reward excellence among practicemanagement professionals.

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insider20 Overview

A shortage ofskilled labour is the oneregional barrierto growth thataccountantswould most like

to change to improve their businessperformance,according to a surveyacross the country conducted jointlyby Allied Irish Bank (GB) andAccountancy Age.

The other options – transport,lack of government support andothers – didn’t even come close.Ofrespondents,36% mentioned theskills gap,up from 26% in 2003.

It’s a worry.A skills shortage isbad for practices,it’s bad for thecareer prospects of those they seekto employ and it’s also bad,byimplication,for local economies.

It is also not fanciful to assumethe shortfall extends beyondaccountancy.If it’s true for them,it’s true for the businesses theyserve – and that,in turn,has to beworrying for UK plc.

Government has identified theproblem.In the last few years alone,we have had employer trainingpilots,employer skills surveys,regional skills alliances,modernapprenticeships and more.

But while The Success Report2004,published by the Learningand Skills Council last October,showed that employers valuedapprenticeships over any otherqualification,only 9% of youngpeople felt the same way.

And while the growth of office-based industry sectors such as financial services is anacknowledged fact,only 8% ofyoung people see themselvesworking in an office,and 5%working with money or in finance.It seems to be a straightforwardcase of supply and demand – andthe supply isn’t there.

Like the majority of accountants,we pride ourselves on the qualityand the experience of our staff.Theyare skilled and savvy.They havetheir finger on the pulse of the localeconomy they serve.Customerservice is their top priority.

People like this are gold dust forbusiness.Heaven forbid that thesupply should dwindle.Perhaps thisyear’s survey is telling us that acommunications task is necessary,that the training and the prospectsare there.But only if we – employers,business leaders and government –can encourage young people to takeadvantage of them.Karl Heffernan is area director ofAllied Irish Bank (GB)

Eyebrows were raised last week byAndrew Lynch’s decision to accept a£114,000 bonus from CompassGroup, despite the group issuing ashock profits warning in September.

The former group finance chief,who was last year promoted to chiefexecutive of subsidiary Select ServicePartner, was one of only four directorsto take up the offer of a bonus.

While Compass paid out £881,000in total, the vast majority was paid to Alain Dupuis, chief executiveof Compass Group’s Asian and Australian division, who was on a different bonus structure.

Directors at the group saw almost40% wiped off their 2004 pay dealscompared to 2003, and only fourdirectors received a bonus of any kind.

Both the company’s executivechairman, Sir Francis Mackay, andchief executive, Michael Bailey (pic-tured right with Lynch), declined theoffer of a bonus, because they did notfeel it was appropriate.

Lynch was appointed chief execu-tive of Compass’s Select Service Part-ner division a year ago. And despite his£114,000 bonus paling compared withhis £510,000 2003 bonus, investors arelikely to feel aggrieved at what on thesurface appears like another exampleof a reward for failure.

Lynch learned his trade at Big Fourfirm KPMG, but left in 1984 to join

Prudential. He remained there for fiveyears before joining Travellers Fare asfinance director in 1989. The formerBritish Rail outfit was later bought byCompass, and Lynch has been withthe group ever since.

Compass Group argues that thebonuses paid to its directors are pro-tected by a rigorous testing structure,which is based on a number of criteriabeing met that the remuneration com-mittee ‘considers contributes most toincreasing shareholder value andmeeting corporate objectives’.

Four measures are taken intoaccount – turnover growth, EPSgrowth, improvement to the return oncapital employed and working capitalmovement. If only one of the meas-ures is met by the executive director,

he or she is entitled to just 25% oftheir overall budget.

Comfortably sitting at 323p on 7September last year, the group’s sharesdropped to 239.25p overnight, follow-ing the profits warning.

As Accountancy Age went to press,the share price remained around the247p mark.

Lynch’s leadership of Select Ser-vice Partner is likely to attract keeninterest from the rest of the board aswell as investors. At 56 years old,Mike Bailey, group chief executive, isslowly approaching retirement.

Should Lynch prove his worth atSelect Service Partner, he would bethe obvious choice of successor at theparent company. He certainly seemsambitious enough.

RISK OF A LYNCHINGOn the frontline: inaccepting his bonus,Lynch risks the wrath ofCompass shareholders,writes David Rae

You’re probably familiar with the phrase ‘smell test’. It whiffs, if you’ll pardonthe pun, of the playground, but like so many other expressions it has found anew lease of life in the workplace. It’s the largely superficial technique, ofcourse, used to determine whether a new product or service will be successful.

Viewers of Drop the Dead Donkey will have known this as ‘running it up theflagpole’. Similarly those who worked on the Campbell Soup account manymoons ago would have said:‘Let’s put it on a train and see if gets off atCamden.’ Camden being Campbell Soup’s HQ, you see.

Anyway, why does this matter in 2005? Well ‘smell test’ cropped up in arecent poll of executive types revealing the most annoying buzzwords of 2004.You won’t be surprised to hear that synergy, paradigm and metrics also featured. Any early bets on the most annoying buzzword of 2005?

Smell testbuzzwords

[noun] determining the potential success of a product

MIND THE SKILLS GAP

Compass GroupExecutive director remuneration

0 0.5 1.0 1.5 2.0 2.5 3.0

20042003

Andrew Lynch, CEO SSP

     

Clive Grundy, Group HR Director

Alain Dupuis, CEO Global Business Division

Michael Bailey, Group CEO

Sir Francis Mackay, Chairman£1,259,000

£546,000

£2,623,000£1,044,000

£968,000£1,103,000

£859,000£564,000

£1,033,000£678,000

£m

Three steps to…Being an employer of choice

Step 1 Offer your staff real opportunitiesOne size does not fit all. One man’s money and promo-tion opportunity is another man’s opportunity to workon interesting projects that will enhance their reputa-tion. Give them what they want.

Step 2Take CSR seriouslyStaff are more committed when they can identify personally with the company they work for. Extremelycapable people will stay with companies that providemodest incomes and less than ideal working conditionsbecause the humanitarian mission and goals of thebusiness correspond to their own.

Step 3 Make recognition an honest gestureEmployees don’t want recognition.They want management to understand the contribution they makeand to thank them for it in a meaningful way. A genuinethank you can be significantly more effective than anexpensive, institutionalised recognition programmes.

Baffled by business buzzwords? Then send them to news@accountancyage.com and we’ll attempt to deconstruct them

020_AA_13Jan05 1/10/05 4:04 PM Page 20

www.accountancyage.com AccountancyAge 13 January 2005

Results:ICAEW 2004 21

AAbbott H, London; Abd Rahman D, KualaLumpur; Abernethy J, St. Albans; Abiola A,London; Achal P, St. Albans; Adamjee N,London; Adams J, London; Adams J,Christchurch; Adams N, Bristol; Adams P, Hull;Adams S, London; Agathangelou X, Enfield;Aggarwal A, London; Ahmad Q, London;Ahmed N, London; Airey P, Leeds; Ajam-Hassani A, London; Akram M, Newbury;Akram O, Ilford; Alcraft M, London; Aldrich A,London; Ali A, London; Allan A, Southampton;Allen C, Nuneaton; Allen J, London; Allen J,Haslemere; Allkins A, Uxbridge; Altoft R,London; Amos G, Guildford; Anand G, London;Anastasi M, London; Anastasiou S, Nicosia;Anderson B, Ipswich; Anderson R, Reading;Andrews J, Tonbridge; Andrews L, London;Andrews R, Bristol; Angel B, Gatwick; AnselmE, Nicosia; Antcliff I, London; Anthian C,London; Antonaki M, Athens; Armstrong C,Stowmarket; Armstrong J, London; ArmstrongT, London; Arnfield R, Manchester; Arnold L,Warrington; Arora A, London; Artemiou H,London; Ash M, Cardiff; Ashdown J, London;Ashpool W, St. Albans; Ashton-Jones A,Southampton; Ashwell D, Reading; Aspinall R,London; Atherton D, Manchester; Atkins R,Coalville; Ault S, London; Awan A, Reading;Awan N, Leicester; Axcell S, Sutton

BBadesha H, London; Bagnall C, Sheffield;Baigent G, Leeds; Bailey J, Knutsford; Baker L,Cheltenham; Baker T, Bristol; Bale C,Manchester; Ball C, London; Ball E,Nottingham; Ball K, London; Ball P, St. Albans;Baninajar A, Farnham; Banks M, London;Banner P, London; Barber T, Huddersfield;Barlow L, Manchester; Barnard H, Reading;Barnes S, London; Barnley N, Bristol; Barrett A,Alton; Barrett R, Sheffield; Bartholomew A,London; Barthram J, Newcastle Upon Tyne;Bartlett H, Cambridge; Barton R, Bristol; BashirF, London; Basran S, Birmingham; Bate R,Cardiff; Bates M, London; Bateson N, London;Bavill I, Leeds; Beardsley C, Brighton;Beaumont V, Nottingham; Beckett N,Wolverhampton; Beckwith P, London; Beddall J,London; Beech S, Leeds; Beenstock R, Watford;Begum J, Walsall; Beirne A, London; Belilo A,Gibraltar; Bell C, Manchester; Bell J, Grantham;Bell P, Sutton; Bell R, Norwich; Bendesh I,Leeds; Bennett F, London; Bennett-Blacklock N,London; Bent K, Leicester; Berg A, London;Betteridge L, Guildford; Bettison R,Southampton; Bevington R, Bristol; Bhalla A,Newcastle Upon Tyne; Bharaj S, Horley; BibbyP, Manchester; Bilham D, Farnham; Bills S,Birmingham; Bilsland R, London; Birchall E,London; Bird W, Lymington; Bithell S, London;Black A, London; Blacker N, Manchester;

Blackmore F, Cardiff; Blackwell R, Cardiff;Blaney E, London; Blomfield N, Bristol;Blundell C, Liverpool; Boghani M, Northwood;

Bolden J, London; Bone D, Tunbridge Wells;Boonzaaier I, London; Booth C, Reading; BoothD, Preston; Boulton S, Liverpool; Bourne S,Manchester; Boutcher E, Gloucester; BowsteadS, London; Box N, Cambridge; Boyce B, Derby;Bracey J, London; Bradbury L, Grimsby;Bradley R, Crawley; Braiden B, London; BraileyJ, London; Bramall S, Hull; Brand B, London;Brennand T, London; Brent S, Caterham;Brereton D, Stoke-On-Trent; Brewer C, London;Brewin P, Derby; Brigden C, Birkenhead;Brindle T, Stockton-On-Tees; Broadey V,London; Bromley J, London; Brough G,Newcastle Upon Tyne; Browell R, Derby; BrownC, Ipswich; Brown S, London; Brown S,Cambridge; Brownhill D, Barnsley; BrownjohnA, Birmingham; Bruce A, Southampton; BryanT, Epsom; Bryant G, Southampton; Buchan D,Leeds; Buckley R, Reading; Buddin P, Crawley;Burdett P, Birmingham; Burgess J, London;

Burke R, London; Burns J, Nottingham; BurtonM, Southampton; Burton S, Norwich; Bushby E,London; Buss T, Gatwick; Butterley D, Sidcup;

Buttle S, London; Byrne A, Manchester

CCacchione I, London; Cader D, Watford; CallasP, London; Camm J, Scunthorpe; Campbell J,Gatwick; Canavan E, London; Cannon C,Bristol; Cantelo E, London; Caple I, Reading;Cardell A, London; Carley M, London; CarlisleH, Manchester; Carr S, Carlisle; Carroll N,London; Carter C, Oldbury; Carter S, Jersey;Carter S, Southampton; Case R, Gloucester;Casey M, Manchester; Castell W, London;Cathcart J, Farnham; Cato L, Brighton; Cavan C,Birmingham; Chadwick G, Milton Keynes;Chambers I, Manchester; Chambers P,Liverpool; Champkins T, London; Chan S,Birmingham; Chan V, London; Chana D,London; Channa K, Bromley; Chantler H,Birmingham; Charalambous E, Limassol;Charles A, London; Charles L, Epsom; Chater L,

Birmingham; Chen X, London; Cherrett R,London; Chesculescu E, London; Chinnery N,Bristol; Chivers A, Croydon; Choitram K,London; Chong K, London; Choudhuri A,London; Christian G, Isle Of Man; Christian S,Isle Of Man; Christodoulou E, Nicosia;Christodoulou I, Nicosia; Christofides C,Limassol; Christou C, Nicosia; Chu Chung KeeM, London; Chubb D, London; Chui K,Selangor; Chui M, London; Chung E, Reading;Churchill J, Birmingham; Churchill S, Walsall;Clamp T, Birmingham; Clark A, London; ClarkG, Reading; Clark J, London; Clark J, Leeds;Clark L, Preston; Clark T, Shrewsbury; Clarke D,Maidstone; Clarke V, Birmingham; Clayton B,Grays; Cleator P, Isle Of Man; Cleeve M, Jersey;Clegg H, Manchester; Clifford B, London; ClintO, London; Coaker T, Bristol; Cobham L, Leeds;Cobley R, Cardiff; Cocconis M, Limassol;Cockett L, Leominster; Coe P, Milton Keynes;Coffin M, London; Coggan B, Manchester;Coghlan C, London; Colbeck S, Birmingham;Colbourne E, Walton-On-Thames; Coleman G,Sutton; Collier A, Manchester; Compson S,Reading; Conaghan D, London; ConstantinidesC, Nicosia; Cook S, Plymouth; Cooke A,Wellingborough; Cookman B, Leeds; CooksonC, London; Cooley N, London; Coombe J,Newton Abbot; Cooper E, York; Cooper K,Winchester; Cooper V, Manchester; Corbett I,London; Corby J, Tunbridge Wells; Corcoran P,Luxenburg; Cornelius M, Farnham; Cornish V,London; Corran S, Isle Of Man; Corry E,Salisbury; Costello S, Sheffield; Costigan A,Leeds; Couch H, London; Cove M, Bolton;Cowan E, Bristol; Cowell B, Shipley; Cowper S,Ipswich; Cox R, Bristol; Cracknell G, London;Craddock E, London; Craker D, London;Cranville R, Reading; Crawford I, Hayes;Crawford W, Chichester; Creasey J, Guernsey;Creevy M, Maidstone; Cromarty C, Leeds;Cross L, London; Cross M, Tamworth; CrouchM, Leeds; Crowley R, London; Crumbie W,London; Cumming J, London; Cunningham R,Warrington; Curling T, Bristol; Curtis C,London; Cutting H, Bath

DDack K, Benfleet; Dalton L, London; Danan J,London; Danes J, Nottingham; Daniel S,Southend-On-Sea; Dann A, Norwich; Darby C,Newcastle ; Darrington S, London; Dasilva M,Leeds; David E, London; Davidson S, London;Davies C, Westerham; Davies C, Bristol; DaviesL, London; Davies L, Cardiff; Davies M,London; Davies N, Birmingham; Davies N,Conwy; Davies S, Cardiff; Davis S, Nottingham;Davison C, Milton Keynes; Dawe A, London;Dawes R, Manchester; Dawson N, London;Daykin H, London; De Condappa G, London; DeSmith K, London; De Soysa N, London; Dean B,London; Dean C, London; Dean C, Leicester;Dedman S, London; Deeming H, Leeds;Dehayen A, London; Dent J, London; Depala H,London; Devine R, Manchester; Dewani S, St.Albans; Dewhurst M, London; Diamanti G,Athens; Dick S, Southend-On-Sea; Dickinson J,London; Dickson A, Nottingham; Dickson S,London; Dimitriou C, Thessaloniki; Dimitrova N,Athens; Dinardo A, London; Dixit J, Harrow;

Nicepeople, great work and huge opportunities.

Onefirm offers the richest variety of work and thebroadest range of clients in one place.

www.pwc.com/uk/newlyqualified/

© 2004 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP(a limited liability partnership in the United Kingdom) or, as the context requires, other member firms ofPricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

ICAEW results round-up 2004Candidates who successfully passed the advanced stage examination,held in November 2004

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AccountancyAge 13 January 2005 www.accountancyage.com

insider22 Results:ICAEW 2004

Dixon A, London; Doble S, London; Dodman E,Godalming; Donert P, Cambridge; Donovan H,Cardiff; Doris M, London; Dougall A, London;Downes O, Bristol; Downing C, Burnham-On-Sea; Doyle C, Leeds; Drazin S, London; Drew A,London; Driver H, London; Druce K, Crawley;Drummond K, London; Drury E, Bath; Dua R,St. Albans; Dunkling S, London; Dutton D,Birmingham; Dyment A, Slough

EEarl M, London; Earwicker D, Croydon;Eastman C, Bristol; Eddison C, Keighley;Edelman N, London; Eden C, London; EdmondsH, London; Edmunds R, Reading; Edwards C,London; Edwards M, Cardiff; Edwards P,Bristol; Edwards-Moss T, London; Efstathiou A,Nicosia; Elder M, Derby; Eldridge G,Basingstoke; Elliott I, Crawley; Ellis C,Huddersfield; Ellis S, Nottingham; Ellis T,Preston; Emblem M, Uxbridge; Emery E, Bury;Empson K, Leeds; Epiphaniou S, Limassol;Eshelby S, Guildford; Eskell P, Bristol; Evans A,London; Evans D, Manchester; Evans D,Pwllheli; Evans G, Jersey; Evans M,Manchester; Evans R, London; Everett J,London; Ewbank A, Penrith; Ewings L,Plymouth; Exelby E, Hereford; Eyre R, London

FFagan M, Leeds; Falconer J, Beaconsfield;Farrell G, London; Farrelly J, Liverpool; FarzadiH, Leeds; Fearnley S, London; Federman S,London; Fennell S, London; Fenton J, Leeds;Ferguson S, London; Ferrier L, London; FerrisN, Reading; Fishley S, London; Fishman L,Hatfield; Fitzgerald-O-Connor H, London;Fitzpatrick C, Ipswich; Flack E, London; FlackK, London; Flatt D, London; Fleetwood E,London; Fleming P, Jersey; Flemington M,Birmingham; Fletcher C, St. Albans; Floca M,London; Flynn N, Crawley; Flynn R, London;Folley M, London; Folman L, London; Ford M,Thame; Forde M, London; Fossey L, Guernsey;Foulds C, Jersey; Foulkes L, Leeds; Fowdur S,London; Foxton D, Leeds; Frakes M,Manchester; Francis E, London; Franklin E, St.Albans; Franklin L, St. Albans; Fraser J, London;Fraser V, London; Freedberg R, London;Freeman K, Reading; Freestone K, Weybridge;Frenkel V, London; Frew I, London; Frosdick C,London; Frost A, Birmingham; Frost R, Bristol;Fryatt E, Uxbridge; Fryer C, London; Fuller A,London; Fuller S, Birmingham; Fullwood L,Wolverhampton; Funnell J, Crawley; Furniss L,Sheffield; Futcher C, Kingston Upon Thames

GGabb J, London; Galaiya D, Croydon; GallagherK, Reading; Gallimore C, Leeds; Gammon S,Manchester; Gandhi J, London; Gardiner E,Bristol; Gardiner G, Reading; Gardner D,Chorley; Gardner S, Cheltenham; Garfen N, St.Albans; Garner O, Birmingham; Gaston C,London; Gates S, Bristol; Gatland S, Windsor;Gaulter V, London; Gay E, London; Geddes I,Redditch; Geer W, Aylesbury; Georgiou G,London; Gian P, Gatwick; Gibbon H,Macclesfield; Gibbons L, Romford; Gibbs E,London; Gibson E, Manchester; Gilbert M,London; Gilbert Z, London; Gillett S, London;Gilmore M, Manchester; Gilmore N, Reading;Glasson C, London; Gleave D, Bath; Gleeson A,London; Gleeson H, Birmingham; GlendinningS, Newton Abbot; Glover J, London; Godfrey C,Crawley; Godfrey C, Northampton; Godfrey S,London; Godwin R, Birmingham; Goh H,Bromley; Goh K, London; Goldblatt S,

Manchester; Goodwin E, Shearness; GoodwinM, Scarborough; Gopinathan K, London;Gordon C, Sheffield; Gordon J, London; Gore S,London; Gould M, Newcastle Upon Tyne; GradyP, Manchester; Grafham J, Leeds; Granger M,Reading; Grant S, London; Gray J, Rayleigh;Gray N, London; Greaves H, Leeds; Green D,London; Green D, Stratford-Upon-Avon; GreenG, Huddersfield; Green M, York; Greenidge J,London; Greensmith N, Manchester;Greenwood G, Slough; Gregory L, London;Gretton P, Birmingham; Griffin M, Leeds;

Griffin S, Uxbridge; Griffiths A, Leicester;Griffiths H, London; Griffiths J, London;Griffiths L, London; Griffiths Z, NewcastleUpon Tyne; Griggs E, Alresford; Grigsby S,Farnham; Grimwood H, Bolton; Groenen J,London; Groom H, London; Grose I,Nottingham; Groves C, Rochester; Gumel F,Milton Keynes; Gunn A, Truro; Gutcher L,London; Guyton N, Manchester; Gwynn A,London

HHadfield F, London; Hadjichristou S, Nicosia;Haigh D, London; Haines L, Manchester; Hale-Sutton H, London; Hall A, Nottingham; Hall J,Witham; Hall K, Cambridge; Hall R, London;Hall T, Reading; Halliday D, Newcastle UponTyne; Halsall D, Manchester; Halstead B, Derby;Hamer T, London; Hamilton C, Penrith;Hampton A, Southend-On-Sea; Hancock M,London; Handley D, Birmingham; Handley P,

Reading; Hannaford R, Bristol; Hansen M,London; Happe J, London; Hardy P, Manchester;Hardy R, London; Harraway J, London; HarriesJ, London; Harris C, London; Harris D, London;Harris H, London; Harris K, Bedford; Harris M,Reading; Harrison A, London; Harrison C,Manchester; Harrison D, Hatfield; Harrison L,London; Harrison S, Reading; Harrod H,London; Harrower S, Reading; Harry G,Eastleigh; Hart R, Hatfield; Harvey J,Nottingham; Harvey S, London; Hashmi F,London; Hassall C, Bristol; Hatcher C,

Kettering; Hatherly H, London; Hattan E,Cheadle; Hattle-Spence C, Tonbridge; Haugh K,Nottingham; Hauxwell P, Crawley; Hawkins E,Swindon; Hawkins M, Manchester; Haworth J,St. Albans; Hay S, Cambridge; Hayes B, Oxford;Hayes D, Chelmsford; Hayes M, London;Haynes E, Winchester; Hayward-Wright A,Redditch; He S, Hatfield; Healey R,Macclesfield; Heath S, Stoke-On-Trent; HedgerN, Ely; Hemmant T, London; Hemmings S,Orpington; Henderson J, Cardiff; Henderson K,Reading; Henry J, Leeds; Hepburn S, London;Herd J, London; Heron A, London; Heslop L,Sheffield; Hewetson P, Preston; Hewitt A,London; Hewitt L, Harlow; Hibbs J, MiltonKeynes; Hicks C, Nottingham; Higginbotham P,Manchester; Higgins F, Cardiff; Higginson M,Manchester; Higman D, London; Hildreth J,London; Hill J, Newcastle Upon Tyne; Hill K,Leeds; Hill L, London; Hill L, London; Hill R,London; Hill R, London; Hill T, Bromley;

Hinchcliffe D, Manchester; Hinchliffe J,London; Hinchliffe N, Nottingham; HinchliffeS, Bristol; Hines R, London; Hirst J, Carlisle;Hockings H, Isle of Man; Hodgekins A, London;Hodges S, Cambridge; Hodgkinson K, London;Hodgson A, York; Hogg M, London; Holden D,London; Holden M, Newcastle Upon Tyne;Holder D, Reading; Hole S, London; Holland A,London; Holland M, Birmingham; Holland S,Reading; Holmes C, London; Holt A,Manchester; Hooker R, London; Hooley B,Cambridge; Hopkins D, Jersey; Hopton L,Chesterfield; Hopton M, Bristol; Horgan R,Sheffield; Horn T, London; Horne O, London;Horrocks D, London; Horton R, London;Horwell M, Plymouth; Hosein A, London;Houldsworth A, London; Hoult R, Orpington;Houston P, London; Howcroft A, Leeds; HoweK, London; Howlett S, Fakenham; Howlett-Bolton A, London; Hubbard A, London; HughesB, London; Hughes I, Manchester; Hughes M,Newcastle Upon Tyne; Hull A, Gillingham; HullS, London; Hully R, Newcastle Upon Tyne; HuntA, Bristol; Hunt B, Bristol; Hunt P,Southampton; Hunt R, London; Hunt R,London; Hurrell E, London; Hurst S,Nottingham; Husain F, London; Hussain R,Manchester; Hussain S, Weybridge; Hussell L,London; Hutchinson L, London; Hutt P, St.Albans; Hutter C, Rossendale; Huxley E,London; Hyde R, London; Hymers J, London

IIacovou B, London; Ide A, Leeds; Imrit N,Manchester; Inch V, Eastleigh; Ingham D,London; Ingham D, London; Ingham L, Leeds;Ingle C, Newcastle Upon Tyne; Ingram R,Birmingham; Inman D, Newcastle Upon Tyne;Inskip N, Manchester; Ioannides C, Nicosia;Ioannou G, Nicosia; Ioannou L, Nicosia; IrelandB, London; Irvine A, Newcastle Upon Tyne;Isaac J, St. Albans; Islam M, London; Izard E,Cambridge

JJackson B, Leeds; Jackson H, London; JacksonH, Newcastle Upon Tyne; Jackson L, London;Jackson O, Cardiff; Jackson P, Bromsgrove;Jacobs R, Romford; James E, London; James H,Hinckley; James K, London; Jamme K, Leeds;Jarman D, Bristol; Jarrett L, Berkhampstead;Jarvis C, Egham; Jarvis R, Luton; Javaid S,London; Jeffery V, Royston; Jenkin T, London;Jenkins E, Salisbury; Jennings J, Bristol; JenynsR, Bury St. Edmunds; Jhugroo S, Manchester;Jiang X, Crawley; Joels R, Chester; Johal B,Nottingham; Johal S, Greenford; Johanan G,London; Johnson A, Stockton-On-Tees; JohnsonC, Cheltenham; Johnson D, London; Johnson J,London; Johnson J, Leeds; Johnston C,Manchester; Johnston I, Guernsey; Johnstone R,St. Albans; Jones A, London; Jones B, Bristol;Jones D, Leeds; Jones D, Cardiff; Jones H,London; Jones I, Weybridge; Jones J, London;Jones J, Cambridge; Jones L, Bristol; Jones R,Leeds; Jordan A, London; Jordan J, Manchester;Jump A, Bristol; Justice K, Birmingham

KKameri M, Limassol; Kamra J, Windsor;Kanengisser A, Birmingham; Kanji M, London;Karaiskos M, London; Karantoni K, Nicosia;Kartoudes C, Limassol; Kassapis C, Nicosia;Kavanagh E, Birmingham; Kazmi S, London;Kaznowski L, Bradford; Keast T, London;Keating E, London; Keeble P, London; Keith J,London; Kell S, Ruthin; Kelly D, London; KellyJ, Guildford; Kelly S, Milton Keynes; Kennedy

Well Done !!! No doubt the champagne has been flowing, but, it’s now time tothink about your career and what is best for you.

● Jennings Morton Friel Associates are an independent recruitment consultancy and specialise in placing qualified professionals within commercial companies.

● To discuss your career please contact one of our experienced consultants on the numberbelow.

● For more information on Jennings Morton Friel Associates and to view our current vacancies please visit our website:- www.jmfassociates.co.uk.

Jennings Morton Friel Associates169a High Street, Beckenham, London BR3 1AETel: 020 8663 6699Fax: 020 8658 1629www.jmfassociates.co.uk

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E, Reading; Kent C, Leicester; Kent J, Norwich;Kerai A, Bolton; Kerley G, Jersey; Kester N,Guildford; Kettleday L, Liverpool; Keyte N,Nottingham; Khan M, Banbury; Khan S,London; Khatkar C, London; Kicks J,Nottingham; Kiddle N, London; Kilbey G,London; King C, Milton Keynes; King F,London; King L, London; King M, Bradford;King P, London; King R, Leeds; Kinniburgh J,St. Albans; Kirk R, London; Kirkpatrick K,London; Klein K, London; Kleinman L,London; Klinge J, London; Knight R, Watford;Knollys C, Reading; Knowles R, London;Kohya S, London; Kong C, London; Kong Y,Sutton; Koumparos A, Woking; Koutalis D,Limassol; Kouznitsyna N, London; Kuyper L,London; Kwan V, Hull; Kyriacou I, Nicosia

LLa Franca F, London; Lafferty I, Uxbridge; LaiY, London; Laing H, London; Lakhani A,London; Lakshminarayanan P, Leeds; Lally D,London; Lam K, London; Lampard D,Manchester; Lancaster V, Birmingham;Landshoff R, London; Lane W, Crawley;Langlands A, Birmingham; Langley M,Sheffield; Langley T, London; Lappas M, St.Albans; Large A, Chester; Larive I, London;Larter R, London; Last N, Reading; Lauer F,London; Lavan N, Uxbridge; Law A, London;Lawrence A, London; Laws W, Cambridge;Lawton K, London; Lea C, Newcastle UponTyne; Leach T, St. Albans; Lee J, Bristol; Lee K,London; Lee R, Liverpool; Leech L, Isle OfMan; Lee-Davey R, Maidstone; Legg R, Isle OfMan; Leggett D, London; Leicester A, London;Leighton J, Cambridge; Leitch S, Canterbury;Lester C, London; Levere D, St. Albans;Lewicka E, London; Lewis D, Ascot; Lewis E,London; Lewthwaite M, Fareham; Libell C,London; Lightfoot T, Leeds; Lill H, Godalming;Lilley D, Nottingham; Lim C, London; Lim P,Southampton; Lim Sin Siong M, London; LimaD, London; Lincoln C, Esher; Lincoln-WilliamsA, Newcastle Upon Tyne; Lindsay S, GreatYarmouth; Liow N, London; Liptrott J, Ilkeston;Lister D, Newcastle Upon Tyne; Little G,London; Little J, Wetherby; Little S, St. Albans;Livingston C, Birmingham; Lloyd I, Yateley;Locker H, Widnes; Loebell C, Leeds; Lohia A,London; London K, Leicester; Long C, London;Longland T, Camberley; Loomba N, London;Lopes H, London; Lord R, Poole; Lovell T,London; Lowden J, London; Lowe V, Reading;Lucas J, Cheltenham; Luggar E, Guernsey;Lutton A, Egham; Lyons G, Birmingham

MMcAdam L, Douglas; Macan-Marker Y,London; Macara I, London; McCallum D,Norwich; McCalvey C, London; McCord K,Bath; McCreadie P, London; McDermid K,Leeds; McDonald A, London; Macdonald F,London; McDonald L, Liverpool; Macdonald R,London; McDonald R, Newcastle Upon Tyne;McGeorge G, London; McGibbon M,Sittingbourne; McGill C, London; McGill R,Newcastle Upon Tyne; McGuinness O, Ipswich;Machin A, Kings Lynn; McInnes S, NewcastleUpon Tyne; McKail C, Watford; Mackay A,London; McKeown C, Reading; McKerchar M,London; Mackinnon A, London; McLean M,Norwich; McMahon S, London; McManus A,Orpington; McNulty N, London; Maddams D,Ipswich; Magowan A, London; Magrath T,Chatham; Mahendran N, Gatwick; Maher J,London; Maine A, London; Major G, Chorley;Makin S, London; Malida M, London; MaloneyL, Oxford; Maluza I, London; Mandy C,

Manchester; Mann A, London; Mann G,London; Mann G, London; Manning T,Bridgwater; Manota A, Maidenhead; Mansell K,Liverpool; Mansfield F, London; Mansi J,Hatfield; Ma-Poon M, London; Maqbool S,Stanmore; Maqbool Z, London; Marathefti M,Nicosia; Marks R, London; Marland R, Marlow;Marsden C, Carlisle; Marsh E, Bristol; Marsh J,Uxbridge; Martin A, London; Mason C,London; Mason E, Plymouth; Mason G,Birmingham; Mason S, Preston; Masters N,Swindon; Mather K, Warrington; Mayman D,

Leeds; Maynes H, London; Mayor R, Fareham;Meacock H, Manchester; Meadows Z, Norwich;Mehta R, Northwood; Mellor D, Manchester;Menzies L, Manchester; Merrington N,Westcliff-On-Sea; Merritt J, London;Merryweather L, Solihull; Metcalfe N, London;Michael G, Limassol; Miesner J, London; MilesH, Reading; Miles K, London; Miller C,Manchester; Miller C, Liverpool; Miller K,Stanmore; Miller R, Birmingham; Miller R,Manchester; Millington A, Swadlincote;Millington-Hore A, Leicester; Milne A, London;Milne C, Hitchin; Milne H, London; Milner A,Epsom; Milnes A, Leeds; Mingle M, Redhill;Minto D, London; Mitchell J, Gatwick; MitchellS, Southampton; Mo J, London; Mogg C,Manchester; Mohammed K, Manchester;Mohammed S, Uxbridge; Molony F, London;Monk M, Sheffield; Moody G, Reading; MooreA, Manchester; Moore A, Slough; Moore M,Taunton; Moore R, Birmingham; Moorhouse P,

Isle Of Man; Moraes A, London; Mordue J, St.Albans; Morgan A, London; Morgan A,Birmingham; Morgan A, Jersey; Morgan A,Jersey; Morgan S, Nottingham; Morley A,London; Morrell G, Leeds; Morris A, London;Morris B, Amersham; Morris C, Leeds; MortonM, Epsom; Morton P, London; Moss A, London;Moss J, London; Moss T, Birmingham; Moth J,Manchester; Mounsey C, Carlisle; Mudd W,London; Munce J, Jersey; Mundzic M, London;Munro A, London; Murphy K, London; MurphyT, London; Murray R, London; Muscroft K,

London; Mustafa S, Nottingham

NNaish C, Newcastle Upon Tyne; Napper E,Cambridge; Nash C, Birmingham; Nathan S,London; Nathanson J, London; Naylor D,Lancaster; Neathercoat T, London; Neilands A,Manchester; Nesbit N, Eastleigh; Neve J,Chippenham; Newland J, Cambridge; NewmanJ, London; Newman R, Bromsgrove; Newth M,London; Newton R, Guernsey; Nicholls E,London; Nicholls R, Twickenham; Nicholson W,London; Nickells M, London; Nightingale C,Birmingham; Nikas G, Thessaloniki; Nissila R,Reading; Nixon D, Southend-On-Sea; Nobbs D,London; Norcott K, Milton Keynes; Norman A,Birmingham; Norton J, Nottingham; Nutting S,Shrewsbury

OOakwell L, London; O’Brien R, Slough;O’Donnell C, Cheltenham; Ogden R, London;

Ogun-Muyiwa P, London; O’Kane M, London;Oldreive H, Cambridge; Oliver N, London;Olivier J, London; O’Neill J, London; Ong E,London; Ong M, Birmingham; Ong S, London;Oraee Yazdi T, London; Oram R, Taunton; OrdH, London; O’Regan V, Reading; Orme C,Cambridge; Orpen J, London; Orridge K,Bristol; Oster B, Manchester; Overend H,Manchester; Owen C, Pulborough; Owlett E,London

PPaans M, Bristol; Paget D, Birmingham; Paine T,Crawley; Pakkala T, Crawley; Pallikaropoulos P,London; Palmer G, London; Panagi M, Nicosia;Panayiotou S, London; Panesar M, London;Panteli M, Limassol; Papadakis K, Athens;Papastavrou S, Nicosia; Parello J, London;Parker C, Blackburn; Parker C, Middlesbrough;Parker L, Chorley; Parkinson D, London;Parsons P, Bristol; Pascall J, London; Passa A,London; Patani V, Stanmore; Patel K, London;Patel N, Leicester; Patel R, London; Patel R,London; Patel S, London; Patel S, Northampton;Patel Z, London; Paterson S, London; Patey L,London; Patrick D, Newcastle Upon Tyne;Patsalidou M, Nicosia; Pattinson K, Taunton;Pattinson S, Uxbridge; Pattison R, NewcastleUpon Tyne; Payne J, Bristol; Peachey D,Caterham; Pearce J, Sittingbourne; Pearce S,Manchester; Pearson S, Reading; Peck D,Birmingham; Peckett L, London; Pelham K,London; Pell R, Southampton; Pendred O,London; Pentaliotis Y, Limassol; Peplow N,Oxford; Percy M, London; Perkin J, Leeds; PerryC, London; Perry G, London; Perry W,Salisbury; Pettemerides Y, Nicosia; Petty K,London; Phagura R, London; Phelps C, London;Phillips A, London; Phillips A, Birmingham;Phillips R, London; Photinos A, Limassol;Pickles C, Preston; Pieris A, London; Pinkerton-Hiron J, Cardiff; Piper P, Crawley; Pitsillides V,Nicosia; Plumb L, Cheltenham; Pochun D,London; Pocock A, Swindon; Podmore D,London; Pope J, Manchester; Porter C,Manchester; Portuphy A, Bromley; Pott S,Bromley; Potter A, Leeds; Potticary R, London;Potts C, Reading; Potts I, Birmingham; Powell J,Swansea; Pownall J, London; Preece C,Hereford; Prestwich P, Sheffield; Prevezer D,London; Price A, London; Price C, Hatfield;Price J, Brecon; Price J, Norwich; Price L,London; Prince R, Kidderminster; Pringle S,Newcastle Upon Tyne; Proctor M, Cambridge;Proctor M, Norwich; Proud D, Gloucester; PughG, Reading; Punter H, St. Albans; Purcell J,Nottingham; Purdy K, Reading

RRaby J, London; Radin-Amir D, Kuala Lumpur;Raeside S, Sittingbourne; Rahman M,Cambridge; Rahman N, Bristol; Ralph S,Kidderminster; Ralston R, London; Ramoutar L,London; Ramsey P, London; Rana A, London;Ratti K, Jersey; Rattray J, St. Albans; Raven T,London; Rawstron R, London; Raynes L,Basingstoke; Read K, London; Readman S,Cambridge; Reddaway J, London; ReddingtonC, Leeds; Rees B, London; Reese A, London;Reid C, Leeds; Renton N, Liverpool; Reoch E,London; Rexwinkel H, Bristol; Reyner L,London; Reynolds M, Birmingham; ReynoldsN, London; Reynolds R, Wirral; Reynolds S,London; Richards E, Guildford; Richards P,London; Richards R, Cambridge; Richardson C,Middlesbrough; Richardson J, Guildford;Richardson M, London; Richardson-Owen A,Liverpool; Riches J, Tadcaster; Richmond B,Leeds; Richmond C, Bristol; Rickard D,

Now that you’ve qualified, you have a decision to make. Do you stay inPractice for a while, or make that move into Industry? Either way, doyou really know every option open to you?

At Investigo our Consultants are on your wavelength – some eventrained in the Big 4 themselves and will help you to see clearly what youcan actually do with your qualification.

If you want to move practices, we work closely with 8 of the Top 10. Ifyou want to make a move into Industry, we have enviable relationshipswith a string of FTSE 250 companies. And if you just want to talk aboutyour options you will find that, unlike certain other recruiters, we are notpushy. We will be delighted to give you the benefit of our many years’experience.

Please see our website to see testimonials from those that have gonebefore you.

www.investigo.co.uk

“speak to one of your own”“speak to one of your own”

Options?”“Know Your

Options?”“Know Your

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insider24 Results:ICAEW 2004

Falmouth; Rickels M, Manchester; Riddell M,Bristol; Ridley A, Guildford; Rigby C, Hove;Rigg B, London; Rimmer C, Liverpool; RobbinsL, Crawley; Roberts C, Brighton; Roberts D,London; Roberts J, Manchester; Roberts J,Leeds; Robertson K, London; Robinson J,Sutton; Roche D, Fareham; Rock S, London;Rocyn Jones G, London; Rogers E, London;Rogers M, London; Rogers M, Sheffield; RoperA, Cardiff; Rose S, London; Ross Browne T,London; Ross J, Manchester; Ross S, Jersey;Round B, Leicester; Rourke J, London; RowlandC, Bristol; Rowland J, London; Rowson V,London; Roxburgh H, Leeds; Rudich D,Manchester; Russell E, London; Russell H,London; Russell R, St. Albans; Rutherford M,Cowes; Ryles N, Ascot

SSales P, Dorchester; Salh S, Chippenham;Salim A, Manchester; Salton S, Stockport;Salvin P, Leeds; Salzman E, Slough; SammutM, London; San Martin S, London; Sanathra A,Leicester; Sanders K, Lincoln; Sanders L,Welwyn; Sanders S, London; Sanders S,Swadlincote; Sanderson P, London; Sang T,London; Sanger R, Plymouth; Sardar O,Manchester; Satchwell P, Leicester; Satsangi R,London; Saunders J, Dorking; Saunders M,Dartford; Savage J, London; Savva M, Paphos;Sawyer T, London; Schulz N, Loughborough;Scott A, London; Scott A, Nottingham; Scott L,Farnham; Scott P, London; Seagreaves T, St.Helens; Seah S, London; Seed O, Leeds; SelleyG, Cheltenham; Senbanjo O, Aldershot; Seth G,London; Sewell J, Newark; Shabani G,Reading; Shabir M, Bradford; Shacklock S,Leeds; Shafi W, London; Shah A, Croydon;Shah D, London; Shah K, London; Shah N,London; Shah N, St. Albans; Shah S, Wembley;Shah S, London; Shah T, London; Shaha M,London; Shariff A, London; Shariff F, London;Sharma R, Newcastle Upon Tyne; Sharman I,London; Sharp S, Southampton; Sharpe G,London; Sharpe S, London; Sharples H,Manchester; Sharratt J, Liverpool; Sharrocks P,London; Sharvill A, Southampton; Shaw K,London; Shaw M, London; Shaw P, London;Shaw S, Eastleigh; Sheehan M, Cambridge;Sheikh Z, London; Shelford T, London; ShelleyJ, Newcastle Upon Tyne; Shenton C,Manchester; Shepherd A, Sheffield; ShepherdK, Farnham; Shepherd S, Bristol; Sherlock R,Leeds; Sherwood B, Norwich; Shields R,Peterborough; Shinn C, London; Shipillis E,Nicosia; Shipley L, London; Shore R, London;Shorney J, Bridgwater; Shotton K, Darlington;Showell R, Wolverhampton; Shuttlewood K,Milton Keynes; Siddiqi S, Liverpool; SiddiquiS, London; Siddorns A, London; Side N,London; Sidebotham V, Bolton; Sidique M,Croydon; Siman H, Cardiff; Simmonds R,Newcastle Upon Tyne; Simpson C, London;Simpson P, Reading; Simpson R, London;Simpson R, Reading; Sims L, Birmingham; SinB, Pinner; Singh M, High Wycombe; SingletonK, Gerrards Cross; Sinjakli M, London; Siu C,London; Skinner K, St. Albans; Skouros A,Limassol; Slack J, London; Slade A, Sheffield;Slater B, London; Slater S, Norwich; Smales A,London; Smart M, Southampton; Smith A,Manchester; Smith A, Banbury; Smith B,London; Smith C, London; Smith E,Aylesbury; Smith I, Chester; Smith J, London;Smith J, Poole; Smith K, Nottingham; Smith L,Birmingham; Smith M, London; Smith M,Stockport; Smith N, Tunbridge Wells; Smith N,Chorley; Smith N, Reading; Smith O, Norwich;Smith S, Basingstoke; Smith S, Cardiff; Smyth

B, London; Smyth G, Sandy; Snell A, London;Snelson M, London; Soden D, West Byfleet;Sohal R, Birmingham; Somerset I, Manchester;Soodeen N, Chorley; Sorby R, Sheffield;Spencer D, London; Spencer H, Burnley;Sperryn-Jones S, Godalming; Springall Z,Grimsby; Stacey H, Tunbridge Wells; Stals P,London; Stanford A, London; Starr S, Ipswich;Stephanou M, Limassol; Stephany P, London;Stern D, London; Steven K, Sheffield; StevensJ, London; Stevenson Z, Hatfield; Stewart A,Southampton; Stewart R, London; Stihl S,London; Stirling V, Middlesbrough; Stockley

D, London; Stocks M, Lincoln; Stockwell A,Epsom; Stokes A, Birmingham; Stokes P,Bristol; Stone L, London; Stratton H, London;Strauther K, Sheffield; Strike L, Norwich;Stubbs M, London; Studman C, Richmond;Sumnall R, Bristol; Sumner R, London;Sutcliffe E, Grimsby; Sutcliffe S, Preston;Sutherland E, London; Sutton K, Liverpool;Swanson T, London; Swarbrick B,Birmingham; Sweet S, London; Sweetman P,Hinkley

TTallon T, London; Tan C, London; Tan D,Orpington; Tang H, London; Tate C, Bury St.Edmunds; Tate G, Yeovil; Tattersall L,Manchester; Tausig B, London; Taylor A,London; Taylor B, Uxbridge; Taylor C,Southampton; Taylor C, Reading; Taylor D,London; Taylor E, Birmingham; Taylor J,London; Taylor R, Liverpool; Taylor S,

Bromley; Taylor T, Rotherham; Taylor T, MiltonKeynes; Teare J, London; Ten Broeke F,Reading; Tennyson K, London; Tetley J,Newcastle Upon Tyne; Thackery M, Reading;Thandi R, London; Thobani S, Reading;Thomas E, London; Thomas L, Limassol;Thomas O, Southampton; Thompson C,London; Thompson J, Maidstone; Thompson J,Cambridge; Thomson J, London; Thorn E,London; Thornley H, Liverpool; Thorpe A,Leeds; Thorpe H, London; Thorpe K, London;Tilley C, Bristol; Tindall T, London; Tinkler J,London; Tippet R, Bristol; Tipping E,

Harrogate; Titterington J, Reading; TomlinsonM, London; Tomlinson M, London; Tonkin E,Penzance; Torkington A, Manchester; Tough G,London; Towsey M, London; Tremeer T,London; Trickett A, Southampton; Triger S,Leeds; Trotman S, Bristol; Trott L, Gatwick;Tudor E, Manchester; Tully C, London; TurnbullI, South Shields; Turner C, Bristol; Turner H,London; Turner I, Ruthin; Turner J, London;Turner J, Liverpool; Turner S, Wolverhampton;Turnock R, Leeds; Twist J, Sheffield; Tyler M,Southampton; Tyler P, Kettering; TymienieckaK, London; Tyrrell H, Leeds

UUnderwood A, Bromley; Unthank L, London;Upton C, Worthing; Urang R, London

VVaines G, Guildford; Valentine S, London;Valero A, London; Verkhovskaye M, London;

Vines C, Godstone; Vora R, London; Vraalsen S,Milton Keynes

WWaddingham E, London; Wadley A, St. Albans;Wadley S, Hemel Hempstead; Wagon C,London; Wahid S, Bristol; Wain D, London;Waite N, London; Wakatsuki A, London;Wakefield L, Nottingham; Wakeford D, Exeter;Wales A, Nottingham; Walker J, London; WalkerP, Kingston Upon Thames; Walker P, Bristol;Walker R, London; Waller A, Norwich; Wallis S,Rochford; Walmsley D, Manchester; Walsh J,London; Walters M, Orpington; Walton L,London; Warren A, clevedon; Warrilow M,Leeds; Warwick J, London; Waters C, London;Watford A, Leeds; Watson D, London; WatsonD, Newcastle Upon Tyne; Watson F, London;Watt K, Leeds; Watts M, Brierley Hill; Wear R,Manchester; Weatherall G, Nottingham; WeaverJ, London; Webb B, London; Webb J, London;Webb O, London; Webb R, Jersey; Webster S,Sheffield; Weeks K, Maidstone; Welham L,Cambridge; Wells D, Bromley; Wells L,Norwich; Welsford D, London; West A, London;Weston R, Dartford; Weston R, Manchester;Wheat S, London; Wheatcroft J, London;Wheeler J, Birmingham; Whewell D, Leeds;Whimperley-Dixon E, London; Whitby V,London; White B, Guildford; White D, London;White L, London; Whiteside C, Bristol; WhitingD, London; Whitlock B, London; Whittam A,London; Whyman B, London; Whyman N,Sheffield; Wier A, Birmingham; Wierzbicki A,Hemel Hempstead; Wight A, Newcastle UponTyne; Wike K, Leeds; Wilcock G, London;Wilcox M, London; Wild J, Manchester; Wild J,Reading; Wildey D, London; Wilkinson D,Bristol; Williams A, London; Williams A,Birmingham; Williams C, Gerrards Cross;Williams D, London; Williams E, London;Williams E, Reading; Williams E, Sandbach;Williams M, Purley; Williams M, Cardiff;Williams R, Tamworth; Williams R, Manchester;Williams R, Chester; Williams S, Taunton;Williams S, Windsor; Williamson C, Leeds;Wilson A, London; Wilson H, Ely; Wilson P,London; Wilton L, London; Winch M, London;Windle J, Nottingham; Window G, London;Winsor M, Waterlooville; Wintle K,Cheltenham; Wolf K, London; Wolff J, London;Wong Min M, London; Wong N, Reading; WongW, London; Wood C, Birmingham; Wood D,Bristol; Wooding M, London; Woodroffe C,Crawley; Woods E, Leeds; Woods P, Reading;Woolcock R, Dorking; Woolston S, Bury St.Edmunds; Would N, Birmingham; Wright D,Bristol; Wright D, Reading; Wright J, St. Neots;Wright P, Jersey; Wright S, London; Wright V,Manchester; Wright-Wastell J, Camberley;Wyatt M, Witney

YYap V, Guernsey; Yard M, Taunton; Yau J,Cambridge; Yau R, Billericay; Yazdabadi A,London; Yeatman S, Lowestoft; Yellen P, Leeds;Yeoh S, Kuala Lumpur; Yeung Sik Yuen S,London; Yiasemides A, Nicosia; Yip D, Hull; YipK, London; Yokoyama R, Kingston UponThames; Yong Kiang Young C, London; YoongM, Reading; Youl C, London; Young O,Cambridge; Young R, London; Yuill H, St. Neots

ZZhang J, Birmingham; Zieve A, St. Albans

`

Congratulations on your success…….. now you’re in demand andit’s time to focus on your post-qualified career. Finn Laurens has a

number of opportunities for Newly Qualified Accountants inCentral and South West London. Please call us for a confidential

discussion or visit www.finnlaurens.com

Project Accountant Surrey £37,000 + Car, Bonus and Benefits

Leading Global Company with an impressive record of growth and strongbrands offers an excellent first step into commerce for a new ACA. Leadingprojects within the Finance department and providing financial input on cross-functional initiatives, this is an interesting and demanding role based atour clients’ European Head Office. Projects will be wide-ranging, fromdeveloping reporting frameworks to reviewing processes and examining newbusiness opportunities. Your inter-personal, IT and commercial skills will beadvanced and you will have the confidence to make decisions unilaterally.Our client offers excellent opportunities for career progression. Ref FLA 1781

Revenue Accountant City £42-45,000 + Bonus and Benefits

Global leader in Futures and Options Trading requires an ACA for a prominentand interesting role based in the City. Liaising with trading desk managers toverify accounting and income recognition on trading transactions, incomeforecasting, P&L reporting and regular problem solving, this role requires atechnically strong person with charisma and the ability to multi-task.Candidates with a knowledge of JDE and/or the Securities industry would be of particular interest. Ref FLA1783

Please contact us in confidence on 020 8546 5544 or forward your CV by e-mail to Lynn.Cantelo@finnlaurens.com Alternatively write to Finn Laurens Associates, 6 Fife Road, Kingston Upon Thames,Surrey KT1 1SZ. Fax 020 8974 6888.

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AppointmentsAppointments 25

Accountancy Age is published every Thursday.Average net circulation ABC 70,092(ABC July 2003 - June 2004)To place a recruitment advertisement call Agency Sales Kevin Sinclair on 020 7316 9591Direct Sales Sacha Cunningham on 020 7316 9560Consultancy Sales Sarah Mullet on 020 7316 9117

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Would you rather get stuck in a ruck at home

or kick off the next phase of yourcare e r in Be rmuda?

Richard Hill ACA qualified with a medium-size London accounting firm. In 2003, following a year’s secondment as an audit supervisor in Auckland, he joined Deloitte in Bermuda as a senior in the Co-sourcing team and has been seconded to a bank and college in widely differing roles. Richard plays for the 2004 league champions, the Renegades, and was surprised to see that all aspects of a rugby culture exist in Bermuda.

Deloitte Bermuda is one of the leading firms in what is a truly global financial service center. We are recruiting for entry level audit and co-sourcing senior roles and if you are a qualified accountant with a minimum of 2 years experience please send your CV to recruitment@deloitte.bm, quoting Ref:R101 in your cover letter.

www.deloitte.bm

Richard Hill ACA qualified with a medium-size London accounting firm. In 2003, following a year’s secondment as an audit supervisor in Auckland, he joined Deloitte in Bermuda as a senior in the Co-sourcing team and has been seconded to a bank and college in widely differing roles. Richard plays for the 2004 league champions, the Renegades, and was surprised to see that all aspects of a rugby culture exist in Bermuda.

Deloitte Bermuda is one of the leading firms in what is a truly global financial service center. We are recruiting for entry level audit and co-sourcing senior roles and if you are a qualified accountant with a minimum of 2 years experience please send your CV to recruitment@deloitte.bm, quoting Ref:R101 in your cover letter.

www.deloitte.bm

Copyright by Deloitte Touche Tohmatsu. All rights reserved. Deloitte & Touche Bermuda is a member of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein and each of its national practices is a separate and independent legal entitiy.

Copyright by Deloitte Touche Tohmatsu. All rights reserved. Deloitte & Touche Bermuda is a member of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein and each of its national practices is a separate and independent legal entitiy.

Corner House, Church and Parliament Streets, P.O. Box HM 1556, Hamilton HM FX, Bermuda +1 441 292 1500

For all our latest Tax and Assuranceopportunities visit:

www.pwc.com/uk/jobs/nationwide/

CITY AND ISLINGTON COLLEGEAn exceptional college needs exceptional peopleCity and Islington College is a large successful Further Education College, with an annualturnover of £42m.There are five Centres, located over four sites and we cater for over20,000 students.The Finance Team, which covers all areas of finance, is part of CentralServices and the Corporate Accountant is a key role with the Organisation.

Corporate Accountant Ref: 1732Salary Range: £36,765 - £39,569 Inc LondonYou will be responsible for the management accounting function and will report to and deputise forthe Head of Finance.Your duties will include the preparation of both the management and statutoryaccounts and will play a major role in the preparation of the Colleges annual budget.You will lead theteam in providing a professional advisory service to a large number of budget managers, holdingregular meetings with them and offering training to ensure good financial management throughout theorganisation.You should be CCAB qualified with excellent communication and people management skills andshould also have an eye for detail and the ability to work systematically to meet tight deadlines. GoodIT and report writing skills along with experience of both management and statutory accounts arealso required.

Closing date: 31 January 2005.Interviews expected to be held week commencing 7 February 2005.

020 7700 9240(voice box) or e-mail: jobs@candi.ac.uk

website: www.candi.ac.uk address: Marlborough Building,383 Holloway Road, London N7 0RN

Please telephone for further details quoting the job reference

025_AA_13Jan04 10/01/05 3:23 PM Page 1

AccountancyAge 13 January2005 www.accountancyagejobs.com

26 Appointments

The Edward James Foundation is a registered educational charity rurally located in theSouth Downs near Chichester, West Sussex. Its main elements are West Dean College,offering part-time and full-time programmes of study in conservation and visual arts atundergraduate and postgraduate level (validated by the University of Sussex), the 6,000acre West Dean Estate which includes significant property, farming and forestry interests,and West Dean Gardens, attracting over 50,000 visitors each year. The charity has twoassociated limited companies.

HEAD OF FINANCE & ICTSalary circa £45,000 + benefits

The Foundation is seeking to recruit a qualified Accountant with a proven record infinance and ICT management. The Head of Finance & ICT will have responsibility for themanagement and co-ordination of the Foundation’s Finance and ICT services, whichincludes a 110-user computer network and a new bookings and management informa-tion system.

Responsible to the Foundation’s Agent & Secretary, the postholder will be a member ofthe senior management team and will be involved in the organisation’s strategic thinking.Candidates should be qualified Accountants. Experience of financial management within a charitable organisation would be an advantage, as would experience in theestate management or education sectors. Estate accommodation may be available.

For a detailed recruitment pack please contact Jackie Herrington on 01243 818253

Closing date for completed applications : Friday 28 January 2005Initial interviews will be held on Thursday 10 February 2005

www.westdean.org.uk

Senior Auditorc.£35,000 + car allowance Coventry, Work from Home

It’s time you worked within world-class facilities

The Royal Institution of Chartered Surveyors -RICS - is one of the most respected and highprofile global ‘standards and membership’organisations for professionals involved inland valuation, real estate, construction andenvironmental issues. Supporting 110,000members worldwide, RICS promotes bestpractice, represents consumers’ interests andprovides independent, impartial advice tobusinesses, governments and globalorganisations. This is a senior position that iscritical to the continuing evolution of RICS asan organisation.

Reporting into the Principal Auditor, you willwork with regulation department managersto deliver elements of the strategy that focuson members’ compliance with the MembersAccounts Rules. Your main role will involveorganising regional seminars, clinics andhealth checks as required, as well as carryingout spot checks at members’ offices acrossthe country, ensuring that accounts arecompliant with the rules.

To rise to this challenge you will beprofessionally qualified with either ACA orACCA and have at least 3 years’ postqualification experience within an auditing

role, preferably to include reporting on clientmoney issues. You will have experience ofinvestigating accounts and identifyingdiscrepancies, whilst previous trainingexperience would be a distinct advantage.First class diplomatic and communicationskills are paramount. You will be needed todeliver clear, effective and pragmatic trainingand advice to members and be able to reportspot check findings clearly and accurately andto influence at the highest levels.

You will need a full, clean driving licence as the role will require 50% national travelwith 1 day a week spent in Coventry and the opportunity to work from home for the remainder.

To apply, please contact our retainedconsultant Mark Wilson at Hudson on 0121 600 7703. Alternatively, please send your curriculum vitae quoting referenceHH333117:GA to Hudson, Grosvenor House,14 Bennetts Hill, Birmingham B2 5RS or emailcv.mark.wilson@hudson.com

Hudson are handling this assignmentexclusively. All direct and third partyapplications will be forwarded to Hudson.

DBA Chartered Accountants,Leeds

Newly Qualified Accountant - Salary £21,000-£26,000.

Rapid growth at this progressive, friendly practice has created a fantastic opportunity for a newly-qualified withexperience and/or enthusiasm for working with SMEs.Responsible for a portfolio of high-quality clients, DBAwill provide you with the supportive, professional environment to develop your skills. Genuine prospects ofcareer advancement and rapid salary growth, 23-27 daysannual holiday and free on-site parking in Leeds CityCentre.

Apply in writing with a copy of your CV to:

duncan@duncanbarr.com

Duncan Barr Associates, Roundhouse Business Park, Leedswww.duncanbarr.com

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Appointments 27

Opportunities for Recently Qualified ACAs

Buzzacott is a city based, top 30 firm of Chartered Accountants with recognisedexpertise in advising clients operating in specialist sectors, including; charitiesand not-for-profit, professional partnerships, media, financial services, retail andmanufacturing. We are now seeking recently qualified ACAs for the followingroles to assist in our expanding Charity and Corporate Departments.

Charity Audit Senior £ marketWe require a dedicated Charity Senior to join our Charity team. The roleinvolves working with a diverse portfolio of charity and not-for-profit clients, aswell as contributing to the development of the firm’s expertise in the sector. Therole has excellent opportunities for progression within a department that has anational reputation as a leader within the sector.

Corporate Audit Senior £ marketWe require a qualified Audit Senior with a good academic track record to assist in the continuing development of our Corporate Department. The candidate would be expectedto work closely with partners and managers on a diverse portfolio of clients. Knowledgeof IAS would be advantageous.

Audit Senior (Partnership and SAR audit) £ marketWe require a qualified Audit Senior who has considerable experience of professional partnership accounts, LLP audits and SAR reviews. Corporate auditexperience would also be advantageous.

To apply, please send a CV and details of your current salary to:

Fiona Grealis, Buzzacott, 12 New Fetter Lane, London, EC4A 1AG.Email : grealisf@buzzacott.co.uk Tel: 020 7556 1266

Business Services Partner UP TO £150,000

We seek an ambitious business services partner to head up the newfunction. This will be a high profile role within the region. You will be working closely with a market facing tax partner and will havesignificant support from the head office in London. The role offersreal freedom to mould the business services function, an importantpart of which will be the building of a strong team over the mediumterm. You will benefit from a solid starting platform, a recognisedbrand and a dedicated marketing department.

You will be an established partner within a reputable practice or seniormanager with an existing Top 20 firm ready to make the next step up.You will have demonstrable business development skills ideally witheither a fee following or a good track record in business generation.

Senior Managers/ManagersCOMPETITIVE PACKAGES DEPENDING ON SENIORITY AND EXPERIENCE

These are key roles within the new business services team with realprospects of partnership in the medium term. You will be involvedwith everything from the day-to-day management of the office throughto marketing.

You will be a qualified ACA/ACCA with 3/4 years+ PQE and will havetrained either with a Top 20 firm or quality medium sized/smallerpractice. You will have a strong general practice background and anawareness of the business advisory and tax issues that face OMBs/HNWIs.

These opportunities will appeal to individuals who seek a realchallenge and would relish the opportunity to be involved in building a team from scratch.

To discuss in complete confidence contact Shakeel Osman at thefirm's retained advisers, David Peachell & Partners, JamaicaWharf, 2 Shad Thames, London SE1 2YU. Tel: 020 7407 2200, Fax: 020 7407 3300, Mobile: 07932 074293. E-mail: shakeel.osman@dpandp.com. Website: www.dpandp.com

AMBITIOUS TOP 20ACCOUNTANCYPRACTICE

Our client is a Top 20practice with officesnationwide. They have a strong reputation andare known for theirprofessional integrity,high standards andquality people. Theyhave achieved strong,continued growth, arewell financed and have a clear strategy to expand further. A vital component of thisstrategy is to build asubstantial businessservices and tax practicein Birmingham and theWest Midlands wherethey already have astrong presence providingniche services.

Birmingham - Business Services Partner and Managers

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Join a Leader in BusinessSoftware Solutions

Business Consultants Bristol or Home Based, salary range £40,000 - £55,000

plus car & benefits

Working with existing Agresso customers, Business Consultants will analyse and makerecommendations for changes to business processes to ensure that the customer

is realising the maximum business benefits from their investment and that their visionis being met by the most effective use of the AGRESSO system.

Successful candidates will have a proven track record of providing business advice and will be able to demonstrate a good knowledge of software implementation

methodologies and business analysis techniques together with the interpersonal skillsnecessary to communicate with customers at a senior level.

AGRESSO Implementation Consultants Bristol or Home Based, salary range £35,000 - £45,000

plus car & benefits

The role involves working with customers through the full implementation cycle to ensure the delivered solution meets the customer’s business needs and represents

best practice in their market sector. Successful candidates will have experience of at least two implementations of substantial financial or business management systemsin medium or large organisations. Knowledge of the AGRESSO system is not essential

as full product training will be provided.

AGRESSO Training Consultant Bristol Based, salary range £30,000 - £40,000 plus car & benefits

The Training Consultant role will include development of course material, deliveringtraining courses at Agresso’s Bristol based training centre and on customer sites. The

successful candidate will have at least two years experience of providing applicationtraining for senior users on complex commercial business systems. Experience of

Project and/or HR systems would be advantageous.

All of these roles involve a considerable amount of travel within the UK and you willneed to possess a full UK driving licence. Agresso offer an excellent salary with

an attractive benefits package, including a company car or cash option, generous pension, life assurance and Private Health Care.

In the first instance we would prefer you to email your CV to us atmail@andaire.co.uk.

Our other contact details are Andaire Computer Services Ltd., Plainlands, Drake Lane, Dursley, Gloucestershire, GL11 5HF.

Telephone 01453 541 800.

Andaire is the managing agent for Agresso and all enquiries should be through them.

You need an advantage……You need AGRESSO

More than 1800 organisationsacross Europe and NorthAmerica experience theadvantage of using AGRESSOBusiness World on a dailybasis. Many of these aretypical people-centricorganisations from the PublicSector, Higher Education,Professional and CommercialServices sector. Agresso arenow recruiting personnel forroles in the ProfessionalServices Division.

www.agresso.com

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Appointments 29

Mid Herts Auditor £22-26,000Pure audit role in a large team requiring a ‘people person’ with proven audit skills (either external or internal). At least 18 months experience required. Company car and mobile phoneprovided although travel is only local and minimal.

Hatfield Corporate Finance Executive C. £45,000Qualified ACA/ACCA required to work in a lead advisory capacity with the top internationalfirm of accountants. Exciting opportunity working with an established expert, growing this relatively new department. Candidates need a minimum of 18 months experience in a lead advisory role.

St Albans Newly Qualified £34-38,000Audit roles exist in this top 4 firm for ambitious newly qualified ACCA/ACA with a minimumof 2 years experience in practice. If applying from a small firm your audit skills should currently cover at least 50% of your role. Clients incorporate a variety of industries across thelocal market place.

Wembley Semi Senior £22,000Enthusiastic AAT or ACCA studier required by a small firm of accountants to prepare accountsfrom incomplete records, assist with the preparation of management accounts, a little bookkeeping, assist in audit and various adhoc accountancy work. Full study support will beprovided. Promotional prospects for the ambitious.

Hemel Hempstead Accounts assistant £20,000Full study support provided for a candidate seeking a varied role in the large accounts team in acommercial enterprise. Duties include nominal ledger reconciliations, assisting with budgetingand management accounts preparation. Alongside various other duties.

Hemel Hempstead Financial Controller £45,000An opportunity has arisen for a sole charge FC in this small yet growing company to deal withall aspects of their financial reporting.

Luton Analyst £42-45,000You will require excellent numerical, analytical and communication skills and be both willingand have the ability to work with a number of software packages. Motor Industry.

To find out more about any of these roles please speak toFiona Towell or Sarah Godwin

Training Consultant£35,000 - £42,000 + car + benefits

SWAT Limited is one of the UK’s leading providers of training,consultancy and software solutions to the accountancy profession.

We now wish to recruit two ambitious self-starters who willbe keen to play a key role in developing SWAT in ourEastern and Northern regions.

Preferably based in our Huntingdon or Hull office the roleinvolves: ● presenting accounts, tax and audit workshops for staff

(full training will be given);● undertaking audit, accounts, tax and whole

practice reviews at the clients’ premises; and● working with the existing team to develop our client

base.

You will be:● fully qualified (ICAEW or ACCA); ● have a minimum of two year’s post qualification

experience in practice;● willing to study for the CIOT exams, if you do not

currently hold this qualification; ● a good communicator and IT literate; and● capable of working on your own initiative and be

highly motivated.

SWAT is a dynamic growing company that offers excellentcareer opportunities to the right applicant. Continuous training and technical support is available.

For an application pack, please contact Joy Geran at ourhead office in Plymouth on 01752 725700 or emailjoy.geran@swat.ltd.uk.

At BDO Stoy Hayward, we are renowned for helping our clients fulfil their potential. As the sixth largest accountancy firm in the UK and with offices in over 90 countriesworld wide, our clients range from start ups through to large multi nationals.Our financial modelling team is based within our corporate finance practice providingboth model development and model review services to the private sector and bankingclients. Our approach is to apply high quality financial, commercial and technical skillsin a way that helps us to develop strong and ongoing client relationships.In joining our team you will have the opportunity to develop your project finance,corporate finance or PFI knowledge, enhancing your technical skills to provide you with a wider understanding of transactions and modelling. Our methodologies for both model development and model review provide a framework to expand both yourtechnical and more general advisory skills.To be successful, ideally you will be a qualified accountant with general audit,modelling, or commercial background. Your MS Excel skills should be above averageand you should be keen to learn advanced techniques and how to apply them incommercial situations.As Accountancy Age’s Employer of the Year, we will work hard to make sure that yourtalent is recognised, constantly developed and rewarded. Open, friendly and focused, we are keen to welcome like-minded individuals to joiningour successful, growing team. In return we offer attractive rewards and a wide variety ofchallenging and interesting assignments.

Please write with your CV by 28th January 2005 to Michael Ware, Corporate FinancePartner, 8 Baker Street, London W1U 3LL. Email: michael.ware@bdo.co.uk

For further information visit www.bdo.co.uk

Financial modellingAttractive salary (£40-50k plus comprehensive benefits)London and South East of England

It’s not just our clientsthat get personal attention

BDO Stoy Hayward LLP is authorised and regulated by the Financial Services Authorityto conduct investment business.

Department Of Finance

Norfolk Audit Services

Audit Client Manager Ref: PSU5 £27,291 - £32,205 pa (may be more for exceptional applicants)

Auditor/Senior Auditor Ref: PSU4£15,225 - £25,407 paNorfolk Audit Services (NAS) is looking to recruit flexible, professional, enthusiastic and forward looking people to join our vibrant unit at a time of significant change of structures and service delivery in the public sector. At Auditor level, you will have worked in a financial or business environment and be part or fully AAT qualified, or hold an equivalent qualification. At Senior Auditor level, you should be AAT or part-qualified CCAB/IIA and have extensive audit or financial experience. The role will include arranging and delivering financial and other system audits, individually and as part of a team. There are also opportunities for progression on completion of full CCAB or IIA qualification for which NAS will offer study support. The Client Manager should be a qualified member of a CCAB body or IIA with wide experience of internal or external audit. Responsibilities will include liaising with clients, managing and delivering audit plans and the day-to-day management of team members.NAS provides an internal audit service for all County Council activities together with some external clients. We have a reputation for quality and professionalism, shown by our early achievement of the ‘Investors in People’ award and winning the CIPFA Cliff Nicholson Award for internal audit work on health and safety. The broad grading structure allows us to match individuals and their experience with appropriate levels of pay. NAS actively supports Norfolk County Council’s flexible working arrangements and we are happy to consider applications from people interested in part time, part year or other flexible working patterns.

Please apply on-line at www.norfolkccjobs.com or alternatively for further information and an application form, please contact the Personnel Services Unit on 01603 222145 (answerphone outside office hours) or email jobs@norfolk.gov.uk

Please quote appropriate job ref.

Closing date: 24 January 2005.

Interview date: 3 and 4 February 2005.

The Saddlers’ Company is an ancient City Livery Company withits own Hall and offices. It has a lively interest in the modernBritish saddlery trade, as well as a broad and active role in education and charity.

The Company is looking for a suitably qualified accountant to beresponsible for the financial control and management of its corporate and charitable funds.

The successful candidate is likely to be a mature professional witha broad experience in general accountancy and a familiarity withIT accountancy systems.

The position enjoys an attractive benefits package with a startingsalary of not less than £35,000.

For further information, and details on how to apply, please write briefly in confidence to:

The Clerk, The Saddlers’ Company, Saddlers’ Hall, 40 Gutter Lane, London EC2V 6BR.

The closing date for applications is 3rd February 2005

The Worshipful Company Of Saddlers

ACCOUNTANT

SENIOR MANAGER CENTRAL LONDONAn opportunity for a qualified Accountant to join a successful 2 partner firm inthe Old Street area. The candidate will be able to demonstrate an ability to manage a portfolio of cases and supervise staff. The vacancy will suit a candidate looking to advance to management of staff and clients. Experience of preparing controlling Audit / Accounts work and awareness ofcommercial, accounting and taxation aspects of dealing with clients from smalland medium sized businesses advantageous.

Competitive salary offered together with real prospects for self advancement.

Write: J Robinson, 5 Underwood Street, London N1 7LY Email: joseph@robinsonslondon.com

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30 Appointments

NEWLY QUALIFIED ACCOUNTANTPROPERTY DEVELOPMENT

You are newly ACA/ACCA qualified, highly literate and numerate withan outgoing personality. You are probably currently with one of the topAccountancy firms and have first time passes. You are a lateral thinker.The property industry fascinates you.

We are a property developer specialising in commercial, retail and hotel development throughout the U.K. Our offices are in the West End ofLondon.

We seek to employ an assistant to our C.E. a person with the skills and disciplines established through professional training who we will buildinto a proactive property operator. Accounting functions will be aminor part of your duties.

You have a thirst for success and wish to have fun on the way to the topwhilst being well rewarded for your endeavours.

For a confidential discussion please first e-mail your CV and coveringletter to brenda.carr@landmark-securities.co.uk.

Landmark Securities plc

The Victoria and Albert Museum is the pre-eminent museum of design and decorative arts in theworld and has embarked on a multi-million pound project which will assure its continued worldstatus. We are looking for professional and pro-active individuals to work in our Finance department.Reporting to the Senior Accountant, Projects, the positions carry a high degree of autonomy andcorresponding responsibility.

You should have at least three years management accounting experience and be able todemonstrate excellent analytical skills and an eye for detail. A highly motivated approach toproblem solving is essential as is the ability to prioritise, meet tight deadlines and work closely in ateam. You will have good interpersonal and communication skills and be able to win the confidenceof departmental managers. An accountancy qualification and knowledge of Sage Enterprise isdesirable but not essential, as is experience of working in the not-for-profit sector.

For further details and an application form, please visit the V&A’s website at www.vam.ac.ukand enter ‘jobs’ under search. Details can also be obtained by e-mailing Maria Louka atm.louka@vam.ac.uk

CVs will not be accepted from either individuals or agencies.

Closing date: 24 January 2005 (5.00pm).

The V&A is devoted to enabling everyone to enjoy and explore its collectionsand the cultures that created them, while inspiring contemporary design.

Projects Accountant/Assistant Projects Accountant£22,781 to £31,901 per annum (dependent on experience)

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Appointments 31

London / South East / Scotland

Take our business performance to new heightsCompetitive packages BAA may already be the world’s leading airportcompany, but we never stop striving for greater heights.That’s why we recently undertook a far-reaching reviewof our Finance Group.

We are now implementing changes to enable Financeto put more effort into providing a proactive, strategiccontribution to the business. So we’re looking forseveral influential, ambitious finance professionalswho are able to use their commercial acumen to driveforward business performance and delivery.

Business Planning and Performance ManagersWe’ll look to you to drive, challenge, monitor and supportthe financial and operational business performance ofyour airport or business area. That will involve leadingbusiness planning and interpreting results to identifypotential areas for development.

Three years’ finance experience, a degree and a full orpartial accounting qualification will have given you akeen understanding of financial accounting. Your drive,confidence and credibility, however, are all your own.Ref: WIL52

Decision Support AnalystsYou’ll provide early commercial decision makingsupport on both capital and revenue projects or initiatives, championing improvements in our performance.

A numerate graduate, ideally with a full or partialaccounting qualification, and substantial commercialand analytical experience, you’ll be more than capableof interpreting and evaluating a broad range ofcomplex technical information. Plus, with your stronginterpersonal skills and powers of persuasion, it won’tbe long before the business leaders are turning to you

for advice. Ref: WIL51 and WIL53 (there are 2 levels forthis post)

In all roles, you’ll need to be comfortable working onyour own initiative and confident in your ability tomake an impact. In return, we’re offering an extremelygenerous benefits package, which includes final salarypension scheme. Plus you can look forward to excellentcareer prospects within a unique, constantly evolving,market leading business.

To apply, please visit www.baa.com/careers Alternativelyyou can call our Customer Services team on 0141 585 6000for an application pack. If you have a hearing impairment,textphone/minicom 0141 585 6161. Lines are openbetween 08.30 and 19.00 Monday to Friday. Please quoteappropriate reference number. Closing date: 28th January2005. If you require this advert in any other format pleasecontact Customer Services on the above number.

www.baa.com

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32 Appointments

Build a nation of highachieversRegional Finance DirectorCirca £65,000

East of England The Learning and Skills Council has a vision that, by 2010, young people and adults in Englandwill have knowledge and productive skills to match the best in the world. If you have thepresence and authority to get the best out of a regional public budget of some £700 million, youcould play a lead role in the creation of a ‘knowledge economy’ in which there are no barriers topeople with talent or ambition.

Working as part of a small team reporting to the Regional Director and as one of a network of nineregional finance directors, you’ll be tasked with monitoring regional budgets against projections andassessing the impact of activity on plans and performance. Strategically, you’ll offer financial adviceon college mergers and capital developments, as well as monitor the financial health of the sector.We’ll also look to you to support the network of Learning Providers, including the creation ofrecovery plans for colleges in financial difficulty.

You will be a Finance professional who has senior management experience in either the private orpublic sector. Your excellent relationship building and interpersonal skills will give you theleadership to manage effectively in a constantly changing environment and allow you to make amajor contribution to the achievement of LSC aims and objectives.

• Outstanding training and development• Flexible benefits • Excellent pension

Change lives through learning. For further information and an application pack, pleasecontact our Recruitment Team on 0845 3000 431 between 8am - 8pm Monday toFriday, 10am - 4pm Saturday, quoting reference EE10 048 N.

Closing date: 27 January 2005.

www.lsc.gov.uk

Group Finance andPerformance Manager

c. £34,000 p.a. Based in Savile Row,W1Our Planning and Development Group ensures that changes to England’s historic

environment both enhance and protect it.With consultation responsibilities on

over 15,000 planning cases and the provision of more than £30m in grant per

year, it is crucial we use our resources effectively.

Supporting the Head of Operations, you will provide a first class business and

financial management support service to the group and other customers across

English Heritage.This will include developing, monitoring and reporting on

financial and operational performance against defined objectives, taking a lead on

budgeting and advising on future resourcing needs.

This varied and interesting role requires a broad range of skills to match. In

particular, you will be able to communicate effectively at all levels and have a

willingness to work closely with staff across the organisation. A minimum of two

years’ experience in financial management within a business environment is

required and it is likely you will possess a part/full CCAB qualification.Your

approach will be flexible and open, but you will also have the focus and tenacity to

work to deadlines, prioritise and make process/system changes where necessary.

For an application pack, please send a self-addressed A4 sized

envelope (no stamp) to Sheila Robinson, Room 409, English

Heritage, 23 Savile Row, London W1S 2ET quoting reference

R/138/05 or email recruitHQ@english-heritage.org.uk quoting

R/138/05 in the subject box, Closing date: 28 January 2005.

Minicom, for TEXT PHONES only, 0800 0150516.

English Heritageprotects and

provides advice on this country’sunique legacy of

historic buildings,landscapes andarchaeological

sites. We alsomanage over 400

sites and welcomein excess of 11

million visitors tothese each year.

English Heritagevalues diversityand aims toemploy people who reflect this.

University of Southampton - at the cutting edge of innovation

Finance Department

Deputy Director of Finance £56,000 - £60,000 per annum

The University of Southampton is a rapidly growing and ambitious organisation, with a turnover of £275 million.We are an active member of the ‘Russell Group’ of research intensive Universities.We wish to appoint a qualifiedand suitably experienced accountant to the post of Deputy Director of Finance who will work very closely withthe Director of Finance in delivering financial services to the University. In this role you will represent the FinanceDepartment on a large number of internal and external project teams, and will be responsible for themanagement accounting function within a highly devolved system of finance and accountability.

You will be a qualified CCAB accountant with at least six years PQE, and will have extensive experience ofworking in a complex financial environment in a large organisation. In addition to holding a professionalaccountancy qualification, academic study to degree level or equivalent is also desirable.You must be able todemonstrate a proven record of achievement in financial management and enabling your organisation to progresstowards its strategic aims. It is essential that you are able to interact with a wide variety of academic staff andother professional groups within and outside the University. Experience of higher education would be anadvantage, but the University also greatly values best practice ideas from other sectors.

For an informal discussion of the post and our expectations of the candidates, please contact Malcolm Ace,Director of Finance on 023 8059 2812 or email: m.j.ace@soton.ac.uk

An application form and further particulars may be obtained from the Human Resources Department (B), University of Southampton, Highfield, Southampton SO17 1BJ.Tel: 023 8059 2750,email: recruit@soton.ac.uk or minicom: 023 8059 5595, alternatively visit our websitewww.jobs.soton.ac.uk Closing date for applications: 2 February 2005. Please quote reference 04B0377H.

Working for Equal Opportunities

MATURE ACCOUNTANTSExperienced, qualified accountants from commerce or

practice needed to deal with small business nationwide.

www.aims.co.ukCV: R.Gallon, Human Resources, AIMS Partnership, 3 Park Road,

London NW1 6AS.rozanneg@aims.co.uk

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Appointments 33

International Controller – Netherlands

Smith & Associates is the world’s #1 independentdistributor of semiconductors and electroniccomponents. We are currently seeking anInternational Controller to work in our Europeanheadquarters in Amsterdam, The Netherlands.

In this position you will be responsible for the following:

Supervision and participation in monthly closings and preparation ofmonthly and annual financial statements for Smith & AssociatesEurope BV and Smith & Associates Far East; Directing thepreparation of reports required by regulatory agencies includingVAT, Wage tax, Corporate tax, etc., including monthly reconciliations;Co-ordination of payroll preparation and related filings and reportsrequired by various regulatory agencies; Co-ordination with USpayroll department regarding the proper reporting of all expatriatepayroll and expatriate tax filings in Europe and Asia; Understandingand managing foreign currency exposures; Developing anddocumenting accounting policies, processes, etc and special projectsas needed; Some travel will be required to our Barcelona and Asianoffices (Hong Kong, Shanghai and Seoul).

The ideal candidate will be innovative and dynamic with an interest inbeing a part of an enterprising organization. 7+ years of publicaccounting and industry accounting/management experience isneeded. For consideration, please send cv immediately tonradtke@nfsmith.com. Please visit our website at www.smithweb.com

Chief Financial AccountantOxford City Centre c. £46,500 - £48,500 pa plus final salary pension Ref: CFA001AA

Oxfordshire County Council is seeking a professional and highly motivated memberfor the senior team within Business Support, leading a key division employing over50 financial staff and controlling a total directorate expenditure of over £200m.Reporting to the Head of Business Support, you will have established a track record ina similar large, complex people-based organisation in either the public or privatesector, working confidently with high transaction volumes and major ICT systemsdevelopment and integration issues.

Oxfordshire Social & Health Care has an ambitious programme in place over the nextfew years. The finance function will play a key role in supporting the necessary furtherimprovements to achieve this, through the provision of accurate, timely and reliableinformation combined with establishing a robust system of controls ensuring that thisinformation and the transactions behind it comply with best practice.

Principal responsibilities will include:

• Lead on all aspects of financial control,

• Represent the Directorate on all financial policy matters in internal and external forums,

• Establish documented procedures for all financial processes that ensure correct transactionaccounting and appropriate period end close down and reconciliation arrangements,

• Operate financial risk management strategy in liaison with the Head of Finance andProcurement for Oxfordshire County Council.

We are committed to recruiting and retaining a strong and professional workforce andwe offer generous staff benefit policies.

To receive an information pack for the post ring our Recruitment Line on (01865) 854467 (answerphone available), or e-mail us at shc@oxfordshire.gov.uk Please quote the relevant reference number or apply on-line atwww.oxfordshire.gov.uk

Closing date: Monday, 31 January 2005.

Interview date: w/c Monday, 14 February 2005.

We offer generous holidays, development opportunities, a final salary pensionscheme and a range of family-friendly policies. Vacancies are also on our websiteand you can apply online at www.oxfordshire.gov.uk/jobs

PROMOTING EQUALITY AND SOCIAL INCLUSION

www.oxfordshire.gov.ukAn award winning council

H W FISHER & COMPANYChartered Accountants

Audit Supervisors (newly ACA qualified)

Salary - £ market rate

The roles involve:● Planning, fieldwork and completion of

audit assignments for a diverse range of clients with turnovers ranging from £1m to £50m.

● Liaising with clients, managers and partners.

● Supervision of trainees.

A knowledge of Viztopia will be an advantagebut is not essential.

We are a top 25 firm with extensive expertisein a broad range of industry sectors includingproperty, media and not for profit. We alsohave specialist departments in corporatefinance, insolvency and forensic accounting.

Please apply in writing with your CV to:Ann Lipman, H W Fisher & CompanyAcre House, 11-15 William RoadLondon NW1 3EREmail: alipman@hwfisher.co.uk

ACCOUNTANT VACANCY

Datum Alloys Limited has a vacancy for a CompanyAccountant.

Datum is a young and vibrant company servicinginternational niche markets within the engineeringsector. As part of its further growth it needs a personto take responsibility for the accounting function,implement controls and contribute to the decision-making processes. Suitable applicants will be energetic and hard working, personable and haverecently achieved or be well on the way to a recognised qualification. The Company is based inSouth Devon and offers a competitive salary andterms in the delightful South West.

Please apply in writing with full cv to:

jamie@datumalloys.com

Jamie ElsmoreDatum Alloys LtdUnit B, Bridge WorksStation Yard Industrial EstateKingsbridgeTQ7 1ES

AUDIT MANAGERSHull, Manchester, Lincoln andShropshire/Staffordshire

£32,320 - £43,183 + car + benefits Would your ideal job allow you to develop your professional skillswhile placing you at the heart of improving public services? If theanswer is yes, then look more closely at these opportunities with theAudit Commission. We are the body responsible for ensuring thatpublic money is used economically, efficiently and effectively andprovide external audit across the whole range of NHS and LocalGovernment services.

We are looking for Audit Managers to take responsibility formanaging a number of health and local government audits inHumberside, Greater Manchester and Shropshire/Staffordshire. You will have supervisory responsibility and possibly a functional rolewithin the patch, looking at ‘quality’, ‘audit approach’, ‘resources’,or ‘finance’, for example. You would also support the Commission’swider improvement and assessment agenda.

Candidates must be fully qualified accountants with substantial auditexperience. You will need good analytical abilities and the credibilityand influencing skills to ensure that your ideas are understood,accepted and acted upon. You will also need project management and client management experience and will be expected to travelacross your region.

For more information and an application pack, please contact theRecruitment Team on 020 7382 7517 or e-mail: audit@bartlett.co.ukquoting reference NAM2Z052/AA for Hull, NAM2Z010/AA for Manchester or CAM1Z015/AA for Lincoln and Shropshire/Staffs.

Closing date for receipt of completed applications is 28 January 2005.

www.audit-commission.gov.uk

The Audit Commission is committed to diversity and encourages applications fromall sectors of the community irrespective of ethnic origin, gender, marital status,sexual orientation, disability or religion.

minimising bureaucracy - maximising impact

033_AA_13Jan05 11/01/05 11:46 AM Page 1

AccountancyAge 13 January2005 www.accountancyagejobs.com

34 Appointments

w w w . h a r g r e a v e s l a n s d o w n . c o . u k

Project Accountant Bristol - Excellent salaryHargreaves Lansdown is a highly successful financial services group operating fromBristol and serving a national client base. The group provides a wide range of financialproducts including share dealing, ISA's and pensions.

A newly qualified accountant is required to join the finance team (finalist or AATqualified also considered). You will undertake various financial and systems projects,and make improvements to procedures and controls. This is a hands-on role, involvingliaising with department heads, systems developers and suppliers. Work will alsoinclude assisting with monthly and year-end financial, management and regulatoryreporting. Excellent communication skills and advanced spreadsheet skills arerequired. Experience of management accounting and improving systems andprocedures is also desirable.

Please apply by post or email (with your c.v and current salary details) to:Louisa Smith - Human Resources, Hargreaves Lansdown, 4th Floor

Pembroke House, Pembroke Road, Clifton, Bristol, BS8 3BH.Email: louisa_smith@hargreaveslansdown.co.uk

Closing date: Thursday 27th January www.hargreaveslansdown.co.uk

FINANCIAL CONTROLLER

Financial Controller – £35,000 to £45,000 pa dependent on experience

Proteam is a leading importer and distributor of garden furniture andleisure products for the retail market. The Company, based in Tonbridge,Kent, has been successfully trading since 1990 and has grown significantly over the past 4 years, with turnover in excess of £20 million inthe last financial year. We are a small team of dedicated individuals whoare very committed to the Company’s long term success.

Due to an impending retirement this position has arisen. You will be working with one assistant, and the role requires a hands-on approach aswell as input into the longer term development of the business.The successful candidate will have significant experience of operating and taking responsibility within industry. Professional qualifications are preferred but not necessity.

Please respond to this advertisement with your CV and an accompanyingletter to personnel@proteam.co.uk detailing why you think your experience and personality are suited to the position. Please includedetails of your last/current remuneration package.

FINANCE & PROCUREMENT CONSULTANTS

PMP is a leading management consultancy providing professional services in a number of specialistsectors. We are seeking to appoint a range of finance consultants to join our expanding team, to provide specialist input into delivery solutions for our public and private sector clients.

We drafted the standardised contract documentation and procurement pack for leisure for the 4Ps,and are acting on circa 45 procurement projects at present from leisure centres, stadia and arenasto education, cultural and regeneration schemes in the UK and abroad.

We are looking for consultants who can demonstrate one or more of the following:

- an accountancy qualification- banking qualifications- detailed knowledge of contract procurement processes, especially PFI/PPP contracts- financial modelling and evaluation skills- an understanding of non-profit distributing bodies (Trusts)- an understanding of local government finance.

We offer a competitive salary for the right people with the usual benefits and a bonus scheme.

If you are interested in applying for one of these positions please send your CV with current salaryto Kevin Godden, Director of Finance and Procurement, PMP, 48 Warwick Street, London W1B 5NLor email: kevingodden@pmpconsult.com

The closing date for applications is 31 January 2005.

PMP welcomes applications by people from minority ethnic communities who are currently under represented in the company

Department of Finance

Financial Projects ManagerBased at County Hall, Norwich£27,291 - £30,288 p.a.One Year Temporary Contract (With A View To Permanent Appointment)We are looking for an accountant to join the Strategic Funding and Technical Section of the Department of Finance.You will join a team of three who carry out financial projects and largely non-routine accounting work.The post involves reporting and advising in response to queries from within the department and from other departments of the County Council. The work can include: evaluating and costing alternative courses of action; helping to prepare business plans; and investigating accounting problems. You should ideally be CCAB qualified, but part qualified or AAT qualified candidates who are actively pursuing full CCAB qualification will be considered.This post will suit a self-motivated accountant with professional confidence and the initiative to solve problems. For an informal discussion, please contact Anna Allison (Head of Strategic Funding) on 01603 222816.

Please apply on-line at www.norfolkccjobs.com or alternatively for further information and an application form please contact the Personnel Services Unit on 01603 222145 (answerphone outside office hours) or email jobs@norfolk.gov.uk Please quote job reference PSU7. Closing date: 27 January 2005.

Norfolk County Council warmly welcomes applications from all sections of the community and is committed to supporting flexible working practices for our employees.

MANAGEMENT ACCOUNTANT - ACADEMIC SECTOR

Finance ServicesWe are seeking to appoint an experienced, professionallyqualified accountant, within the Management AccountingSection. This post will provide academic schools with acomprehensive support service embracing business planning,the achievement of financial targets, the improvement ofmanagement accounting outputs and information flows, theassessment of training needs and development of training plans,and the monitoring and review of financial performances.

The postholder will be responsible for taking forward anenhanced management accounting service to a defined numberof academic schools. This post is available immediately.

Applicants should be commercially aware and have a positiveattitude towards change, to enable them to work effectively withSchools to meet current challenges and targets. In addition, abroad range of IT skills are required to include Excel, Word andfinance systems.

Salary will be point 14 £30,363 pa on grade ALC3 points 14-18£30,363 - £35,883 pa.

For an application pack contact www.exeter.ac.uk/jobs or fax (01392) 263414 or e-mailJ.E.Orr@exeter.ac.uk quoting referencenumber 6595. Closing date for completedapplications is 31 January 2005.

Equal opportunities employer

Assistant Accountant

Hilson Moran Partnership Limited is a leading Building Services Consulting Engineering practice involved in major building projects throughout the UK and overseas.

We are seeking an exceptional person to provide administrative and accountancy assistance to the Company Secretary.

The ideal candidate will possess the following skills and attributes:

� Previous accounts experience including use of Sage accounting software� Ability to assist in the production of monthly management accounts� General computer skills including Excel, Word and Outlook � Excellent communication skills� Strong organisational skills� Flexible approach

The successful applicant will receive an excellent salary, private medical cover, life assurance and participate in our annual merit bonus scheme.

Interested applicants should apply in writing including a current CV and detailing current salary to:

Miss Gini PocockHilson Moran Partnership Limited16 Armstrong MallSouthwood, Farnborough,Hants GU14 0NR.

Willowbrook Hospice

Portico Lane, Eccleston Park, Prescot, L34 2QT

Willowbrook Hospice is an innovative independent Hospice providing Specialist Palliative Care, serving the communities of St Helens & Knowsley. Our Clinical services include: 9 bed In-Patient Service and Out-Reach services – which include Consultant Out-patient clinics and Day Therapy for up to 30 patients per week.

To meet the growing service developments in 2005/6 there is a challenging opportunity for you to gain a wide rangeof experiences and be part of a multi professional team.

FINANCE & GENERAL SERVICES MANAGER £31,930 P.A.

Applications are invited for this senior post from qualified accountants with at least 5 years management experience.In addition to the control and management of the finances of the Hospice, including the production of managementaccounts and budgets, the appointee will have responsibility for aspects of the non-clinical services

Full details of the duties and responsibilities and an application pack are available from the Administration Office on:Tel: 0151 430 8736

The successful applicant will require an enhanced CRB disclosure. Informal enquires and visits are encouraged. Pleasecontact Julie Gorry, Director of Hospice Services for further details about the post.

Closing date: 3rd February 2005

034_AA_13Jan05 11/01/05 4:12 PM Page 1

www.accountancyagejobs.com AccountancyAge 13 January2005

Appointments 35

The Prison Service is an Executive Agency within the Home Officeemploying over 45,000 people. With a total budget of over £2 billion, thecontinuing need for effective management and financial control is vital. HMP Grendon is an adult male Category B therapeutic prison, locatedbetween the towns of Aylesbury and Bicester, on the outskirts ofGrendon Underwood village. HMP Springhill is an open prison thatfocuses on preparing and training prisoners for release. It is jointlymanaged with HMP Grendon and both prisons share a number ofcommon services. They employ approx 340 staff and in 2005/06 thebudget is £13 million. The Prison Service is currently introducing newbusiness management systems (Oracle) and the post offers anexcellent opportunity for an experienced finance professional toassist with the required change management and to developstrategic financial management and reporting within the prison.As Head of Finance, you will advise the Governor and SeniorManagement Team on all financial matters and will have overallresponsibility for financial management and reporting to monthlyand annual deadlines. You will play a pivotal role advising on thefinancial implications with regard to all aspects of the prisonbusiness, preparation of business plans for the two sites, capitalbids and local budgetary control/variance analysis and reporting. You must be a fully qualified member of a CCAB body, with some years’accountancy and management experience. Applicants must also

possess excellent communication and interpersonal skills with theability to motivate staff, have exposure to change management, bedynamic, flexible and able to use their initiative to take the role forward.An understanding of Public Sector Accounting would be an advantage.

The post is graded at Manager E and is a permanent position.The salary will be dependent upon qualifications and experience, andthere is a choice of final salary and stakeholder pensions available.For further information on the above position please contactIan Eliasson, Area Accountant at the Thames Valley Area Office on01296 390584. For an application form and detailed information packplease contact Keith Wise, Personnel Officer, HMP Grendon/Springhill,Grendon Underwood, Aylesbury, Bucks HP18 0TL.Tel: 01296 443034. Fax: 01296 443216.Closing date for applications: 3rd February 2005.

Applicants will be required to declare whether they are a member of agroup or organisation, which the Prison Service considers to be racist.The Prison Service is an equal opportunities employer. We welcomeapplications from candidates regardless of ethnic origin, religious belief,gender, (age subject to being within the normal minimum retirement agefor the grade), sexual orientation, disability or any other irrelevant factor.Part time working or job sharing will be considered.No Agencies .www.hmprisonservice.gov.uk

HEAD OF FINANCE HMP GRENDON & SPRINGHILL£26,395 to £41,141 plus local pay allowance £2,600pa

Universities Superannuation Scheme Ltd is one of the largest pension funds in thecountry with assets over £20 billion and more than 200,000 members. The companyis ISO9001: 2000 registered and has an enviable reputation, having won theProfessional Pensions Pension Scheme of the Year award in 2004.

Due to internal promotion the above vacancy has been created within our accounts department.We are looking for a professionally qualified accountant to manage the pensions payroll andcontributions accounts sections, and to undertake a variety of other project related work.

Reporting to the Chief Financial Officer you will work alongside the Fund Accountant (Finance& Investment) and will be responsible for 21 staff.

You must be a qualified accountant with at least 3 years post qualification experience preferablyin a financial services or similar organisation. Experience of payroll systems, pension schemeaccounting, system implementation and project management would be an advantage. You mustpossess excellent communication skills and be able to influence, inspire and lead your team.

In return we can offer an excellent salary, final salary pension scheme, private health care and acontribution to relocation if required.

For an application pack please contact the HR department at:

USS Ltd, Royal Liver Building, Liverpool, L3 1PY.Tel: 0151 227 4711. Fax: 0151 227 4066. E-mail: hr@usshq.co.uk

Or you can download the information from our website www.usshq.co.uk

Closing date for applications is 28 January 2005.

No agencies please.

FUND ACCOUNTANT

USS Ltd is regulated by the FSA.

(PAYROLL & CONTRIBUTIONS) £45,000 - £65,000 DEPENDING ON EXPERIENCE

USSUSSU N I V E R S I T I E SSUPERANNUATIONSCHEME LIMITED

www.nottinghamcity.gov.uk

d

City Development

Regeneration PerformanceAudit and Finance ManagerProgrammes & Strategy£29,865 - £32,217 paYou will be responsible for the financialmanagement and performance of the regenerationfunding programmes managed by the CityCouncil. You will lead a multi-disciplined team whohave different specialisms and different roles. Oneof your key functions will be to monitor andimprove their performance. The City Council isrestructuring and one of your key roles will be tosupport the service manager in establishing wherethe team fits in the overall structure.

The role calls for experience of financialmanagement, audit techniques, budget monitoringand management systems, as well as experience ofmanaging and developing a team. You will alsoneed knowledge of government regenerationinitiatives, and the ability to present financialinformation to non-financial people. Ref: CD0931

For informal enquiries only, please contactRasool Norat on (0115) 915 5339.

An understanding of and commitment to equalopportunities is required for all posts. Furtherinformation (job details and application forms)for all vacancies can be found onwww.nottinghamcity.gov.uk or can be obtainedfrom Corporate HR, The Guildhall, NottinghamNG1 4BT on (0115) 915 4624. Minicomavailable during office hours. Email:general.personnel@nottinghamcity.gov.ukApplications are welcome from all sections ofthe community. In applying for a vacancy yourdetails will be stored for recruitment purposes.

Closing date: 28 January 2005.Interview date: w/c 22 February 2005.

035_AA_13Jan05 11/01/05 10:44 AM Page 1

AccountancyAge 13 January2005 www.accountancyagejobs.com

36 Appointments

Corporate Finance ManagerService Headquarters, Tovil, MaidstoneGrade 9: £37,577 - £44,012 per annum plus essential car user allowance or lease car37 hours per weekRef: P34

We are looking to recruit a Corporate Finance Manager to lead on the finance section’s management and financial accounting activities. This is a newlycreated role assisting the Head of Finance where primarily you will be responsible for managing the corporate budget activities and precept processes,as well as coordinating and advising on a range of financial and technical accounting activities. Other responsibilities include managing the section’s contracts with external providers, from day to day contract management, to specification and tender of future contract requirements.

You will play a key role in shaping the financial processes and support systems of the future, researching emerging legislative requirements and makingproposals to enable the section to continue to meet the needs of the Fire and Rescue Service. Heading up the Corporate Finance team you will lead onsetting policy and procedures for the Authority’s financial activities and put in place appropriate processes to ensure that the Authority’s financial practices are exceptional.

Ideally you will be a CCAB qualified accountant; with experience in a local government finance environment. It is essential that you have a minimum offive years accounting experience together with excellent technical and interpersonal skills. Working in a challenging environment and addressing theGovernment’s modernisation agenda during a period of unprecedented change, you will need to be adaptable, flexible and able to deliver.

For an application form and job description please write to;The Personnel Section, Kent Fire and Rescue Service, The Godlands, Straw Mill Hill, Maidstone, Kent ME15 6XB. Please quote reference number P34.Alternatively you may wish to send an email to: personnel@kent.fire-uk.org Further information can be found on our website at www.kent.fire-uk.org (jobs –Professional Staff) Closing date: 28 January 2005

NEW YEAR – NEW CHALLENGE

8 partner multi-disciplinary practice on dynamic expansion curve offers exceptional long-term career opportunities for three

top class candidates.

** Consultancy senior – in this fast expanding branch of the practice we arelooking for an ambitious candidate, capable of report writing, due diligence work,business plans and preparation of management accounts. Training will be givenbut experience and proven abilities in these areas will be a distinct advantage.

Scope for rapid progression for the right candidate. Although based in our Suttonoffice it is anticipated that the successful applicant will spend a proportion of their

time working out of our prestigious West End office.

** Qualified senior – our audit and accounting division is looking for a 1-3 yearqualified with real managerial prospects. This post is based in our Sutton office.

** Part qualified – following transfer to our expanding London office a vacancyhas arisen at semi-senior level within the audit and accounting division of our

Sutton office. Part-qualified and contract transferees will be considered.

A competitive salary, commensurate with age and experience will be offered.

Apply, with C.V. and stating which vacancy, to Peter Minchell via post, fax or e-mail:

Post: Clarkson Hyde, 137-143 High St., Sutton, Surrey, SM1 1JHFax: 020 7022 0051

e-mail: ptm@chint.org

036_AA_13Jan05 11/01/05 3:19 PM Page 1

Services

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Plunging headlong into new arrangements with clientsrisks leaving you high and dry when the time comes tocollect the bills,write Phil Shohet and Andrew Jenner

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Next weekBaker Tilly’s Mark Hollanddiscusses IT issues affectingsmaller firms

www.accountancyagejobs.com AccountancyAge 13 January 2005

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Services 37

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It’s the month when guilt caused byoverindulgence during the festiveperiod foolishly persuades people totry exercising to get back in shape.This usually lasts about a month, ifthat. But in a rather worryingdevelopment it seems that someaccountants are looking at moreviolent ways to get fit.

Alan Fitzgerald, partner atFitzgerald Mithia, recently joined ina bout of charity fisticuffs at an eventtitled The Real Fight Club, goingthree rounds against a journalist.

Baker Tilly also recently arrangedthe management buyout of fitnessclub Gymbox from Fitness First. Thecompany runs programmes such as

‘Warrior Workout’, ‘Cage Fighting’and ‘Bitch Boxing’– although TScan’t say whether Baker Tillypartners took part in the sessions.

Come on accountants, let’s gloveup and get scrapping.

takingstock

To read all about award-winning Colin,his friends and colleagues,go to www.accountancyage.com/colin

for more gags and gossip visit accountancyage.com/takingstock

So, 1 January heralded the biggestchange in financial reporting sincethe dawn of time – or at least in aslong as anyone TS has spoken to canremember. IFRS is to the financialworld what the millennium bug wasto IT. To deflect our attention, itwould take Elvis turning up in a chipshop with Osama Bin Laden andRobert Maxwell.

So how are some of the mostimportant institutions involvedmarking the occasion?

The International AccountingStandards Board leads its websitewith a hunt for a technical director.And they only set the standards.

FEE – which represents Europe’saccountants – hasn’t posted a pressrelease since November, theInternational Federation ofAccountants shows no interest, andthe European Union seems contentto make no fresh mention of it at all.

And we were so looking forwardto the IFRS parties.

Arriving witha whimper

TS hopes that PKF corporaterecovery head Philip Long hasexperience of compression valves,backflows and ballcocks, havingtaken on the case of ‘The Plumber’.

Paul Davidson, the City ‘plumber’in question, is being investigatedover what is believed to be in excessof £20m of liabilities.

What a waste. One can onlywonder how that much money cango down the drain – it might possibly have been a cash overflow

problem, but that might be statingthe bleeding obvious.

‘Information is being gatheredand we will shortly be convening acreditors’meeting,’said Long.

He will be hoping for some leaks before that of course.

Let’s get ready to rumble

Flushing out‘the plumber’

Fighting fit: accountancy gets tough

Spanner in the works:a famous plumber

Much excitement at the special commissioners’office last week as the great andgood gathered to celebrate the 200th anniversary of the body that decides InlandRevenue appeals.Presiding special commissioner Stephen Oliver made a briefspeech celebrating the historic occasion.Mid-way through he pulled out a box ofseals (that’s the wax stamp,not the cute marine mammal) and waved one in the air.‘This,’he said with a flourish,‘is a seal that was apparently used to confirm whenstamp duty had been paid on hackney cab licences.We could still be responsible forall I know.’TS attempted to confirm Oliver’s supposition with a cab driver on theway back to the office.‘How should I know,’he said.‘I’m not going south of the river.’

Colin by Higgins

‘Like a bat outta hell,I’ll be gone when the morning comes!’There’s nothing TSlikes more after a hard day at the office than letting its financial follicles down bybashing out a seventies rock song in the local karaoke bar.But compared to thedulcet tones of one of Kingston Smith’s partners,TS is a mere amateur.

Under the name of Seagulls Ska,a group of Brighton & Hove Albion fans havehit the charts with the single Tom Hark (We Want Falmer).Released last week itfeatures,among others,Paul Samrah,a partner at Kingston Smith’s Redhill office.The song is aimed at raising awareness of the football club’s efforts to secure anew ground and has sold well in excess of 3,000 records (the number needed toenter the top 40) reaching number 17 on Sunday’s hitlist.TS wishes them all thebest in their bid to knock a reanimated Elvis Presley off the top of the charts.

040_AA_13Jan05 11/01/05 4:32 PM Page 40