Today’s news in brief – 19/3/2025
The PCAOB has appointed new members to its Investor Advisory Group (IAG) and Standards and Emerging Issues Advisory Group (SEIAG) for two-year terms. These groups provide perspectives on standards, emerging issues, and investor interests to ensure accurate, independent audit reports. Notable IAG appointees include Steven R. Grey and Satyam Khanna, while SEIAG appointees include Preeti Choudhary and Robert Hirth, Jr. PCAOB chair Erica Y. Williams highlighted the importance of their insights in supporting investor protection. The advisory groups continue to play a crucial role in maintaining transparency and accountability in financial reporting.
Scotland is projected to experience the slowest GVA growth (1.4%) among the UK’s devolved administrations from 2025 to 2028, according to the EY Regional Economic Forecast. Aberdeen is expected to grow by only 0.9% annually, with negative household income growth. In contrast, Edinburgh is set to benefit from a 1.9% GVA growth in knowledge-intensive sectors. Meanwhile, Glasgow anticipates 1.6% GVA growth. Nationally, GVA growth is expected at 1.6%, with London and the East of England leading at 1.7%. Northern Ireland is predicted to outpace Scotland due to a more diverse sector mix, including retail, services, and manufacturing.
Quantuma has completed the pre-pack sale of Camm and Hooper Limited, rescuing the events management firm from administration and saving 72 jobs. The sale to a subsidiary of Broadwick Group Limited followed failed restructuring attempts. Founded in 2010, Camm and Hooper operated prominent London venues like Banking Hall and Oxo 2. Despite a 2024 turnover of £10.5m, the company faced cashflow challenges due to market conditions. Joint administrator Brian Burke praised the sale’s outcome, ensuring business continuity and employee retention. Legal and valuation support from Greenberg Traurig and SIA Group contributed to the successful transaction.
Crowe has introduced a probate advisory service to assist clients with estate management, following its recent probate licence approval. Led by director Natalie Butt, a specialist in probate advisory, the service offers support in inheritance tax accounts, estate administration, and grant of probate applications. Butt emphasised the firm’s commitment to easing the emotional burden for clients during difficult times. Crowe’s national head of Private Clients, Pete Fairchild, highlighted the holistic support now available across personal and business matters. CEO Nigel Bostock noted the service as part of Crowe’s strategy for sustainable growth and enhanced client support in 2025 and beyond.
