Today’s news in brief – 20/9/2024

Nick Campbell Lambert has been appointed as the new audit partner at Cooper Parry’s Big Business team. Lambert brings nearly 30 years of experience, having worked at PwC in London for 24 years and Deloitte in Sydney for two. He has also held CFO roles at several private equity-backed businesses. In his new role, Lambert will focus on growing Cooper Parry’s audit practice in London, working with mid-market, PE-backed, and AIM-listed companies. He praised Cooper Parry's growth and culture, while CEO Ade Cheatham highlighted Lambert's strategic and technical expertise, expecting him to contribute significantly to the firm’s expansion. Kreston Reeves has onboarded 49 trainees and students across its Kent, Sussex, and London offices. The intake includes GCSE, A-Level, and university graduates who will study for qualifications such as ICAEW’s ACA, ATT, ACCA, and CFAB. The firm, recognized as a top 50 apprenticeship employer, has a strong commitment to learning and development, with 186 employees currently in training. Karen Thompson, head of learning, praised the enthusiasm of the new recruits, while HR director Susan Chadwick emphasised the firm’s focus on growth through apprenticeships. Kreston Reeves aims to guide its new starters in gaining hands-on experience while earning qualifications. In August 2024, registered company insolvencies in England and Wales fell to 1,953, a 9% decrease from July and 15% lower than the previous year. The figures from the Insolvency Service included 279 compulsory liquidations and 1,542 creditors’ voluntary liquidations. Although insolvency rates have increased since 2020-2021, they remain lower than during the 2008-09 recession. David Meldrum, an insolvency practitioner at Azets, attributed this to persistent economic challenges such as high interest rates and inflation. He urged businesses to seek professional advice early to explore restructuring options like administration, which can offer a path to recovery and avoid liquidation. Sumer Northern Ireland has appointed Jonathan McMillan as senior manager in its Internal Audit team. McMillan, a Certified Information Systems Auditor and Chartered Internal Auditor, brings expertise in cybersecurity, IT strategy, and business continuity from his previous role managing IT internal audits for a ‘Big Four’ firm in Ireland. His new role involves developing Sumer NI's IT Audit service. The Belfast-based office, previously part of ASM, was acquired by Sumer Group in June, marking Sumer's entry into the Northern Irish market. Now part of a network of over 40 offices, the Belfast office is Sumer’s 10th regional hub.