1 Dec 2021

Deal volumes surge by almost 70%

by | 0

BDO’s latest PCPI index revealed that deal volumes in the first three quarters of 2021 exceeded the total for 2020, “confirming market recovery” writes Jaskeet Briah in Accountancy Today

Deal volumes surpassed pre-pandemic levels with a 69% rise in the first three quarters of 2021, BDO’s latest PCPI Index revealed. 

Deal volumes were up 22.5% in Q3 and they also exceeded pre-pandemic levels, up 15% and 18% on 2018 and 2019 respectively. 

BDO said the increase was reflected equally across trade and private equity activity, with trade volumes rising by 22.7% to 622 deals, and private equity transactions by 21.2% to 103 deals.

Deal volumes in the first three quarters of 2021 exceeded the total for 2020 and the full year result is expected to be “one of the strongest seen for years”, said BDO.

Additionally, deal volumes reportedly strengthened in Q3 as activity “intensified”. Trade multiples settled again on 10.6x compared to 10.2x in Q2, while private equity multiples increased to 12.4x from 11.8x in Q2. 

The FTSE All-Share Index reportedly climbed higher with a multiple of 18.0x, “reflecting the positive forward-looking profit expectations of the stock market”.

Roger Buckley, M&A partner at BDO, said: “The recovery of markets and volume of money in the marketplace continue to drive both trade and private equity M&A activity. Times of change create opportunity and we’re seeing an incredibly active M&A market and a competitive environment for buying. 

“Quoted companies, large private entities, PE and debt markets are all open for transactions as they seek to grow on a non-organic basis, reposition their businesses post-pandemic and consolidate marketplaces.” 

28 Oct 2021

CK Search Global launches specialist Cross Border Desk

by | posted in: Uncategorized | 0

As the world opens up again, CK Search Global are here to advise and help facilitate a cross border hire or move for our select clients and candidates.

Our Cross Border Desk works with audit, advisory and consulting firms around the world and we are always keen to here from individuals looking for a cross border move and from clients both existing and new looking to hire the best talent.

We will match our specialist candidates to specific roles across our six areas of practice, Audit and Risk Advisory, Audit Quality and Technical Standards, Forensic Services, Restructuring Advisory, Transaction Advisory and Valuations.

In addition our Market Explorer service is particularly suited to cross border moves. This option produces a targeted list of potential organisations who may be interested in your unique skill set. This is performed on a ‘no names/firm details’ basis to ensure absolute anonymity, to establish a level of interest that warrants further exploration.

Equally our Talent Tracker service allows service line leaders to be kept informed of our specialists when they are seeking a cross border move to their city ,country or region.

Our network is truly global, so if you are looking for a cross border move, for an initial confidential discussion please email crossborder@cksearchglobal.com with brief details about yourself and the countries you are interested in.

If you are seeking to hire global talent please email crossborder@cksearchglobal.com with brief details of your requirements and/or a job specification and will be in touch to discuss further

27 Oct 2021

Regulator requires climate-related reporting from 2022

by | 0

The FRC has outlined its ‘top 10’ areas where improvements to reporting are required, including reporting on climate-related financial disclosures according to its latest report.

The FRC expects ‘material’ climate change policies, risks and uncertainties to be included in narrative reporting and appropriately considered and reflected in the financial statements writes Emily Curryer in Accountancy Today

From next year premium listed companies will be required to disclose their compliance with the ‘taskforce for climate-related financial disclosures’ (TCFD) recommendations on a comply-or-explain basis. 

According to the council it expects “material” climate change policies, risks and uncertainties to be included in narrative reporting and appropriately considered and reflected in the financial statements.

The FRC also said the quality of reporting “remained unchanged”, despite the impact of the Covid-19 pandemic, however significant non-compliance was found at 15 companies that were required to restate their accounts.

In line with FRC guidance, the council said most companies with December year ends reported the effects of the Covid-19 pandemic on their results and included additional information on key “forward-looking” judgements of interest to investors.  

Sarah Rapson, executive director of supervision at FRC, said: “High quality reporting on important issues such as climate change and the Covid-19 pandemic are vital for investors and users of accounts so that they can make timely and informed decisions.

“Through our routine monitoring activity, we continued to identify basic errors in cash flow statements that should have been identified by companies’ own internal review processes. We expect to see improvements in this area in the future.

”She added: “Given the growing importance of climate risks and the need for high quality reporting in this area, the FRC will be closely reviewing how companies report against the new TCFD requirements.”  

11 Oct 2021

Hybrid working could boost social mobility

by | 0

A survey by BDO showed that mixing remote and office work appeals more to young people from low socio-economic backgrounds writes Patrick Dunne in Accountancy Today.

The option of hybrid working – mixing remote and office-based work –  appeals more to young people from low socio-economic backgrounds than those that aren’t, according to a survey of 1,000 people aged between 16-21 by accountancy firm BDO.

More than a third (37%) of those surveyed and considered to be from a disadvantaged background believe hybrid working would give them a better work-life balance, compared to just over a quarter (27%) of young people from other backgrounds.

When asked about the additional benefits hybrid working could bring, those from lower socio-economic backgrounds scored the ability to save money on commuting more highly than 16-21 year olds from non-disadvantaged backgrounds. A quarter (23%) stated it would also better support their care responsibilities including looking after children or other dependents.

Research by the Social Mobility Commission last year found that those from more affluent upbringings are more likely to move to study or work, meaning better-paid jobs are often less accessible to those from poorer backgrounds.

However, with many citing less reliance on ‘unreliable and expensive travel’ five days a week, 26% of the young people from disadvantaged backgrounds said hybrid working would make them more likely to apply for jobs further away from home.

Sarah Hillary, partner at BDO commented: “Some of the benefits of hybrid working have been widely discussed, but the appeal to those from disadvantaged backgrounds and the potential impact on social mobility should not be overlooked.

“If changing working practices can help reach young people in social mobility cold spots, businesses and government should be seizing the opportunity to improve access and opportunity for young people in these areas.”

She added: “The post-pandemic recovery provides an opportunity to ‘build back fairer’ and develop policies that will create a more inclusive and mobile society. We should urge the Government to put as much focus on investment in people as it does on infrastructure as part of its levelling up agenda.”

1 … 20 21 22 23 24 25