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Today’s news in brief – 04/10/2023

Advisory firm Dow Schofield Watts (DSW) has introduced a corporate finance team in Cardiff, expanding its services to help businesses grow. Led by Koo Aseeley and Michael Dunn, who bring a wealth of financial expertise, the team will advise on mergers, acquisitions, fundraising, and transactions. DSW aims to strengthen its presence in Wales and the South West through this expansion, marking its entry into the Welsh market.

Accounting firm Buzzacott has named Meera Shah as the head of M&A in its corporate finance team. Shah, who joined the company in 2018, specializes in advising owner-managed businesses on full and partial exits, including those involving UK-based global businesses and US buyers. Her appointment reflects the firm’s growth and development in the corporate finance sector, expanding from a five-person practice to an 18-person team with a dedicated M&A offering.

Sage Group has appointed KPMG as its external auditor for the financial year ending 30 September 2025. EY, the current external auditor, will continue its role until the financial year ending 30 September 2023. Sage, in accordance with regulations, periodically puts its external audit contract out for competitive tender, with EY initially appointed in 2015. Further details of the audit tender process and criteria will be included in the company’s 2023 annual report.

ACCA (Association of Chartered Certified Accountants) has welcomed the UK government’s efforts to combat late payments to small businesses. The government’s proposed measures, part of the Prompt Payment and Cash Flow Review, will strengthen the enforcement of policies to ensure timely payments to small businesses. ACCA particularly supports the extension of payment performance reporting obligations and the introduction of new metrics, including a value metric and disputed invoices metric, for better transparency and tackling poor payment practices.

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