Reply to: Brookson group acquires InTouch accounting

[northernladuk]

Nope we wish - when we raised it with HMRC and Bis they simply said if it is a "business arrangement" it is fine

At least they got a phone call.......

[lucyclarityumbrella]

I’ve always thought this practice had been outlawed by the Bribery Act but perhaps the sums are too small for the authorities to be interested.

Nope we wish - when we raised it with HMRC and Bis they simply said if it is a "business arrangement" it is fine

[Maslins]

I’m sure this is widespread in the industry, especially with the bigger operators. I’ve heard of cash bribes, televisions, bundles of cash handed out on a Friday night etc, all seem to deny this goes on.

I’ve always thought this practice had been outlawed by the Bribery Act but perhaps the sums are too small for the authorities to be interested.

Certainly the ICAEW insist you tell clients any time you're getting a kickback. I don't feel this is particularly enforced though. Indeed when I talk to accountants with my MVL Online hat on, often one of the first questions they ask is how much commission we pay for referrals. The answer is none, as liquidators aren't legally allowed to pay kickbacks...but in turn it seems most liquidators get around that by paying overly inflated "statement of account" fees to the accountant for getting the client's affairs in order.

Whether it's just in accountancy, the professions more generally, or the population as a whole I don't know, but IMHO genuine ethics seem to have died a death. Even the institute's ethical guidelines are seen by many as things to pay lip service to/find loopholes to get around them.

[Waldorf]

I’m sure this is widespread in the industry, especially with the bigger operators. I’ve heard of cash bribes, televisions, bundles of cash handed out on a Friday night etc, all seem to deny this goes on.

I’ve always thought this practice had been outlawed by the Bribery Act but perhaps the sums are too small for the authorities to be interested.

[BrilloPad]

Ms Jackson, all fine and dandy. But maybe the contractor needs to eat? He/she may not have the luxury of walking away from a paid job.

They will not need to walk. No agency is going to walk away from a lovely fat commission for a bit of a backhander.

[Alan @ BroomeAffinity]

Ms Jackson, all fine and dandy. But maybe the contractor needs to eat? He/she may not have the luxury of walking away from a paid job.

In this case, I'm pretty certain that was the case. Ironically, the contractor in question gave me an immediate referral and I signed him up instead - and he was with the accountant in question.

To be fair, someone from Brookson did comment further down that the PSL route was the agency safeguarding themselves against prosecution under the Criminal Finance Act as it represents due diligence. I'm not sure I buy that necessarily but I can see the logic.

[Fred Bloggs]

I have a bad feeling too especially after reading this.

Ms Jackson, all fine and dandy. But maybe the contractor needs to eat? He/she may not have the luxury of walking away from a paid job.

[kookachoo]

Oh dear! Why am I having a feeling of dread on hearing this?

I have a bad feeling too especially after reading this.

[fullyautomatix]

Oh dear! Why am I having a feeling of dread on hearing this?

[youngguy]

Intouch Accounting will continue to operate independently. Our systems and people will not be changing and we aim to continue to strive to deliver an excellent personal service to our growing client base.

If anything the acquisition will only be a positive move as it will allow us to access a wider range of resources which we hope will bolster what we do and allow us to develop where needed.

...said every single company ever involved in a merger

[Invisiblehand]

If anything the acquisition will only be a positive move as it will allow us to access a wider range of resources which we hope will bolster what we do and allow us to develop where needed.

Nothing says great client service quite like private equity.

[simondolan]

Intouch Accounting will continue to operate independently. Our systems and people will not be changing and we aim to continue to strive to deliver an excellent personal service to our growing client base.

If anything the acquisition will only be a positive move as it will allow us to access a wider range of resources which we hope will bolster what we do and allow us to develop where needed.

Hahahahahaha

[Louisa@AardvarkAccounting]

Yes give them a chance and keep an eye on how many staff leave.

Or might have already left...

[MrButton]

This is CUK you know.....

Haha forgot your such a ruthless bunch.

[BrilloPad]

Just give them a chance. See how it pans out.

This is CUK you know.....