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Today’s news in brief – 11/4/2024

Beever and Struthers has facilitated Morecambe-based Optimum Coatings’ transition to Employee Ownership Trust (EOT), enabling 71 employees to acquire 100% ownership. The move underscores Optimum’s commitment to shared success and employee engagement, ensuring stability and long-term growth. Dean Curtis leads the advisory team, providing comprehensive corporate finance advice to support the transition and enhance employee ownership benefits.

The Bank of England has appointed Ernst and Young LLP (EY) as its external auditor for the financial year ending February 28, 2025, following a competitive tender process. KPMG LLP will collaborate with EY to facilitate a smooth transition. The decision aligns with corporate governance guidelines, emphasising periodic rotation of auditors and ensuring robust oversight of financial operations.

Moore Kingston Smith Corporate Finance has advised Roycian on the £7m Management Buyout (MBO) of McAndrew Martin, an award-winning design firm. The acquisition reinforces Roycian’s focus on professional services, adding a leading player in the property sector. Del Huse, Roycian CEO, highlights the strategic fit and growth potential, commending Moore Kingston Smith’s role in facilitating the transaction and providing real-time advice.

ACCA and IMA Global Economic Conditions Survey (GECS) have reported increased confidence among accountants and finance professionals in the global economy, reaching levels not seen since early 2023. While concerns persist regarding operating costs and talent scarcity, moderate growth indicators suggest gradual improvement, particularly in Western Europe. Jonathan Ashworth, ACCA chief economist, emphasises cautious optimism amid ongoing economic uncertainties and underscores the importance of prudent monetary policies.

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