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Today’s news in brief – 27/09/2023

The UK and New Zealand have entered into a groundbreaking agreement known as the Memorandum of Understanding on Reciprocal Arrangements (MOURA), which enables auditors holding professional qualifications in either country to seek recognition and audit rights in the other. This agreement stems from the free trade agreement signed between the two nations in February 2022, which encouraged the removal of barriers to professional qualification recognition.The UK’s Financial Reporting Council (FRC) and New Zealand’s Financial Markets Authority (FMA), as the competent audit authorities, signed the MOURA. It is aimed at improving the quality of the audit markets in both countries by expanding the pool of talent over time, benefiting accounting firms and professional bodies.

Hazlewoods Corporate Finance has provided financial and taxation due diligence to support Optimo Care Group’s acquisition of Abbeycare and Nursing. Optimo, a healthcare group founded in 2010, has been rapidly expanding its domiciliary and specialist care services nationwide, with this acquisition marking its eighth in the past year. This strategic move allows Optimo to enhance its complex care and supported living services.

Agriculture accountancy firm Douglas Home and Co has expanded its presence by opening a new office in Penrith Auction Mart. This expansion reflects the firm’s success in serving the agricultural sector and meeting the growing demand in Cumbria. The new office accommodates approximately 25 staff members and provides a hub for rural business and farming clients in the region. This expansion aligns with the company’s efforts to grow its client base and its team of agricultural accountancy specialists.

BDO has welcomed two new partners to its team to enhance its advisory services. Claire Frangou, with over 25 years of corporate finance experience, joins as an M&A partner in the North corporate finance team, primarily working with owner-managed and private equity-backed businesses in Manchester. Zsolt Szelecki, the new partner and head of people advisory service in BDO’s digital, risk, and advisory service (DRAS) team, will be based in London and focus on culture and organisational transformation projects. Both appointments reflect BDO’s commitment to strengthening its advisory capabilities and offerings.

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