Taming a tough profession
Article Abstract:
Ernst & Young department of insolvency and recovery head Nigel Hamilton, one of the leading practitioners in the UK accounting profession in the area of insolvency, is leading the effort to implement a new accounting body, the Society of Practitioners of Insolvency. The Society will be independent of the Institute of Chartered Accountants in England and Wales, although the Institute is setting it up. Hamilton believes that the 1986 Insolvency Act has been instrumental in driving unscrupulous operators out of the area of insolvency. Hamilton feels that US bankruptcy procedures are not needed in the UK as UK insolvency law typically requires the replacement of the management team that has led to the firm's distress while US Chapter 11 bankruptcy allows the directors to remain in place, thus raising the specter of the directors having a vested interest in bankruptcy.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
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A means to good communication
Article Abstract:
The Institute of Chartered Accountants in England and Wales' Smaller Practitioner Committee (SPC) was scheduled to be replaced on Apr 2, 1990 with the General Practitioner Board (GPB). The creation of the GPB shows smaller practitioners that the Institute is aware that they are a key part of the membership. The GPB will serve to meet practitioners' needs by: representing their views externally and within the Institute; ensuring that their views are reflected in Council policies; and publicizing the contributions of general practitioners. Current SPC Chmn Ian Morris has been appointed chairman of the GPB. Morris believes that the GPB will foster better two=way communication between the Institute and general practitioners, and hopes that the GPB will increase the awareness among general practitioners of what the Institute is doing for them.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
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Part of his clients' lives
Article Abstract:
Mike Lickiss, a partner of Thornton Baker, is the new president of the Institute of Chartered Accountants in England and Wales (ICAEW). Lickiss has set four main objectives for his presidency of the ICAEW: rationalizing the accountancy profession by harmonizing the professional societies for accountants; raising the profile of chartered accountants so that their contribution to economic life will be recognized; closing the expectation gap among users of financial statements so that they better understand the responsibilities of auditors; and improving the services to the 13,000 overseas members of the ICAEW.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
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