Today’s news in brief – 30/4/2025
CHW, a Bolton-based accountancy practice, will rebrand as Cowgills at the end of April, solidifying its identity within the Cowgills group, which it joined via a 2016 acquisition. The change supports Cowgills’ wider strategic goals following its recent acquisition of NRB in Wigan and integration into the Sumer Group in early 2024. Cowgills plans to accelerate regional growth and extend its services across the North West. Leaders from both firms emphasised the benefits of a unified brand, highlighting broader expertise, deeper service offerings, and renewed focus on supporting entrepreneurial and growing businesses across the region.
ICAS’ new ethical leadership insights reveal that 94% of chartered accountants (CAs) view addressing ethical failings as core to their role, although 39% feel ill-equipped to manage rising ethical challenges driven by tech and societal shifts. Surveying over 700 members, the report found frequent issues like conflicts of interest, workforce concerns, and misleading information pressures. Notably, younger CAs felt more confident in handling dilemmas. However, only 61% said their workplace fosters open ethical dialogue. ICAS stresses the importance of courage, institutional support, and peer perspective in ethical leadership, as the profession works to set business standards and build public trust.
Tom Russell, director of the Turnaround, Restructuring and Insolvency team at James Cowper Kreston, has been appointed president of R3, the Association of Business Recovery Professionals. Having served as vice president since April 2024, Russell takes on the role amid ongoing economic uncertainty. He aims to strengthen R3’s advocacy, support members, and promote the profession’s role in addressing financial distress. Representing a broad spectrum of practitioners, R3 plays a critical role in advising on business recovery. Russell emphasized collaboration, innovation, and professional standards as key to ensuring insolvency professionals continue supporting economic resilience across the UK.
Fraud losses in the UK surged to £2.3bn in 2024, up 6% from the previous year, despite a slight decline in reported cases, according to RSM UK. Online shopping scams led in volume, followed by advanced fee frauds and banking-related fraud. Emerging threats like deepfakes and AI-driven schemes contributed to rising sophistication. Reports disseminated to police rose significantly, reflecting greater enforcement. RSM stressed the need for stronger prevention training and more cohesive cross-industry collaboration. With many victims still reluctant to report due to stigma, the firm underscored the importance of raising awareness and empowering individuals and businesses to stay vigilant.
