Today’s new in brief – 11/4/2025
Simmons Gainsford has acquired Defries Weiss, a long-established accountancy firm based in Golders Green, North London. The seven-member UK team, supported by four professionals in India, will initially remain in their current office before transitioning to Simmons Gainsford’s London HQ within three months. Founded by Gerry Defries and Warren Weiss, the firm joins Simmons Gainsford as part of its 2023 growth strategy supported by the Sumer Group. This acquisition strengthens the firm’s presence in North London and expands its capabilities. Both firms emphasized shared values and commitment to client service as the foundation for this new partnership.
Moore Kingston Smith’s corporate finance team advised Asteria Group on its acquisition of Irish printing firm Label World. This marks the third transaction the firm has supported for Asteria, a European packaging company backed by Waterland Private Equity. The deal included financial and tax due diligence led by director Adele Hebditch and involved Moore Ireland colleagues. Label World, founded in 1998, specializes in flexographic and digital printing for sectors including pharmaceuticals and food. Asteria, with 34 printing plants across Europe, continues to expand its sustainable packaging solutions. Waterland praised Moore Kingston Smith’s reliability and expertise in cross-border transactions.
Bishop Fleming has promoted nearly 30 professionals, including Dan Phillips to audit director, reflecting strong growth across the West Midlands and South West. The promotions follow a year of double-digit revenue growth, exceeding £45.8m in 2024, and reinforce the firm’s talent investment strategy. The firm has also earned several accolades, including winning four Accounting Excellence Awards and achieving Great Place to Work recertification. Its Apprentice Programme was rated Outstanding by Ofsted. Audit head Joe Scaife highlighted the team’s continued momentum, noting consistent 23%+ annual growth in audit revenues. The firm remains committed to developing its people and expanding regionally.
EY and partner Richard Wilson have been fined £4.9m and £105k respectively by the FRC over serious audit failings related to Thomas Cook’s 2017 and 2018 financial statements. The FRC cited breaches concerning Goodwill impairment and Going Concern assessments, noting a lack of professional scepticism and failure to challenge management’s assumptions. The 2018 audit was particularly criticised due to Thomas Cook’s worsening financial health. The firm’s insufficient evaluation of independence risks and liquidity headroom added to the concerns. While EY has since introduced remedial measures, the FRC emphasized the critical role of auditor diligence in upholding public interest.
