I qualified with ACCA while a trainee at the Insolvency Service. The work was a revelation. I realised what I wanted to do was help companies and individuals before they got to the point of compulsory liquidation or bankruptcy. So I joined the restructuring department of an accounting practice and qualified as an insolvency practitioner.
I currently work at Quantuma. I provide support for organisations and individuals to overcome a range of operational and financial challenges. Every day is different because no two businesses are ever the same even if they operate in the same industry, doing the same thing. It is because of this variety that I’ve stayed in the sector.
The sooner advice is sought, the more options there are for restructuring
The perception that an insolvency practitioner is a last resort is frustrating. It is human nature to put off a decision about liquidation, but it would be great to be consulted a lot earlier when the business initially recognises there may be an issue because then I can really assist and add value to change the outcome. The sooner advice is sought, the more options there are for restructuring and reorganising, and the greater the chance of avoiding the worst-case scenario.
Sometimes a stakeholder will suggest a business bring in a restructuring specialist. I very much rely on my trusted adviser relationships with other accountants and professionals, who recognise that the advice provided to their client will be on all the options that may be available to them.
It will be interesting to see the impact of the recent increases in NI
Insolvency rates rose to mid 2024 but started to fall later in the year. Businesses are operating in challenging times and are trying to manage their risks. It will be interesting to see the impact of the recent increases in NI contributions and minimum wage, as well as any further changes to the general business environment.
Any spare time I have right now is split between my family and the Ikon Gallery in Birmingham. I wanted to do something outside of my day job but using my accounting skills, so I became a trustee at Ikon, which is an educational charity for the promotion of visual art of international significance and plays a key role in the cultural life of the region. I’m currently the chair of risk at Ikon, so it’s a very busy role, particularly with the challenges and pressures in the charity sector now. I think, where they can, accountants should get involved with the charity sector because of the huge demand for accounting experience and the value their experience can add.
I’ve been impressed at how hardworking students are
I also act as a mentor at Birmingham City University. It’s something that ACCA facilitated before it set up its own mentoring programme. The university wanted business professionals to get involved with its professional mentoring scheme, and it has been really refreshing. I’ve been impressed at how hardworking and interested the students and graduates are in the professional and accounting side of business.
I am also a member of ACCA’s practice sector panel. I wanted to give something back to ACCA, which has supported me over the years. Again, I would encourage members to get involved.
