EQ News Updates

ICAS Leader visits EQ (April 2008)

David Cameron, said "We were delighted that Anton and James requested a meeting with us and were particularly keen for them to meet a range of staff at different stages in their careers as they all have very different and relevant insights into the profession. It is encouraging that someone in Anton's position has made the effort to visits us and discuss pertinent issues face-to-face."

EQ welcomes new Partner (April 2008)

John said, "I am delighted to be appointed Partner at what is an exciting and expanding time for EQ. Having worked in the accounting sector for over 25 years, I am proud to be part of a practice which places an emphasis on building relationships. Clients call on us for advice, support and good communication, not just for the traditional compliance role of an accountant. Personally, I am hugely driven by business advisory work and helping firms take responsibility to grow, plan ahead and add value to their business.

Welcoming the appointment, "David Cameron, Managing Partner, said, "John has led the steady yet impressive growth of the Perth office and its highly motivated team of staff and his appointment as Partner is a fitting recognition of that. He is an excellent general practitioner and has an enthusiastic approach to working closely with clients and helping them develop their businesses."

Born in Dundee and living in Invergowrie, John is married with two daughters.

EQ secure significant appointment replacing "Big 4" Firm (February 2008)

EQ have been appointed by Merpro Ltd as Auditors and Tax Advisors. This well known Montrose based trading Group is highly regarded globally as a provider of product and service to the Oil sector.

Peter Swift, Financial Controller, Merpro Ltd, commented uopn the process of appointment and the subsequent service experience as follows:

"Looking for improved customer service, coupled with better value for money for audit and tax compliance requirements, Merpro requested tenders from local, medium-sized firms for these services. Of those who tendered and were interviewed, EQ struck us as being the most customer-focused - wanting to ensure that we would be provided with the levels of service we deemed necessary in these important areas. Furthermore, we were satisfied that while the level of fees quoted represented a significant saving, they were not discounted to influence our decision and hence subject to probable significant increases in future years.

Since EQ's engagement, Merpro have been impressed with the quality, knowledge and diligence of staff undertaking the audit and tax compliance assignments for our group of companies. We have also been impressed by the desire to invest time at partner level in getting to know our business and the direction that the directors are looking to move in the medium to long term, enabling EQ to provide useful planning advice.

All in all, it has been refreshing to feel that our business is important to EQ, which has been borne out in the completion of assignments to our timescales, not theirs and the fact that there is always someone available on the end of the telephone that knows and understands our business and what we are asking."

"Farm businesses told to innovate or stagnate" (February 2008)

The key message to delegates of the Fifth Annual Farming Scotland Conference at Carnoustie was that they must be innovative in their approach to business if they are to keep pace with the changing demands of local and global markets.

Allan Stevenson, farmer and businessman from Luffness Mains Farm, East Lothian was addressing over 140 delegates at the conference co-sponsored by EQ, Royal Bank of Scotland and Blackadders. He explained how he has sought to maximise the returns from his business since acquiring his farm from his father 7 years ago. He has achieved an average 31% return on equity by adopting a commercial focus to all areas of his business, on being responsive to customers, and establishing a brand which is now featured and recognised in supermarkets.

He warned farming businesses that if they do not innovate and become more responsive to customers they will fall behind their competitors.

The conference had earlier heard from Jim McLaren, President of NFUS, who set out some of the challenges facing the industry now and in the coming years. 2007 saw a significant increase in cereal prices, fuelled by an increase of worldwide consumption. World stocks of grain have reduced to less than 50 days worth so producers should expect prices to hold up. They will need to, according to Mr McLaren, as input costs are spiralling.

Jimmy McLean, Head of Agriculture Services at the Royal Bank of Scotland, highlighted the historical context of current commodity prices and explained that current prices had increased in real terms for the first time in over 50 years. Food inflation is with us.

Completing the line up of speakers was Mark Aitchison, Managing Director of Frontier Agriculture Limited. He identified changing weather patterns and global market volatility as major factors that will continue to effect producers and the prices they are paid for their crops. He urged producers to implement a marketing strategy for their crop to manage the risks that exist in the marketplace.

Conference Chairman, Keith Hopkins of EQ was delighted to have once again attracted such eminent speakers to Angus. Keith said, "the conference continues to go from strength to strength and the discussion, ideas and debate generated can only contribute in a positive way to the agricultural sector in Angus and further afield. We are looking forawrd to building on this once again at next year's conference."

EQ Corporate Finance supports plc in Tayside acquisition (January 2008)

Our corporate finance 'sister company' has recently assisted Rok plc in concluding the purchase of local company Pitkerro Limited. EQ Corporate Finance Limited were delighted to undertake the financial due diligence on behalf of Rok plc, during their recently completed acquisition of Tayside based plumbing contractor, Pitkerro Limited.

EQ Corporate Finance were appointed in early November and mobilised a small team within a few days of instruction. Director, David Cameron, led the assignment, which was substantially completed by the end of November.

David commented, "It was a pleasure to work with Rok plc, and extremely satisfying that they felt confident to instruct a Tayside company to support them in this way. We are fortunate to have a strong Corporate Finance team and the resources to support this type of work. I think it is also very positive for the future of those in Pitkerro Limited, who will benefit from the professional approach which the Rok management will bring in the development and expansion of the business."

For information on support in all Corporate Finance activity, contact david.cameron@eqaccountants.co.uk.

EQ Appointed by Perthshire Chamber of Commerce (December 2007)

Vicki Unite, Chamber Business Manager, said, "We thoroughly look forward to forging a strong working relationship with the EQ team who have been extremely generous in their support. New skill sets have been brought to the Chamber Office through our internal team, we are able to increase the activities that we undertake in-house. EQ understand what we require but also where we would like to be longer-term, and their expert advice in this area will continue to be invaluable."

John Hogg, Principal of the EQ Perth Office said, "The team at EQ are delighted to provide the support needed by Perthshire Chamber of Commerce in managing and using their financial information. The Chamber is no different to other businesses - the importance of our role is in the relationship we provide and in understanding what drives the results achieved, not the numbers or the reports announcing them. We look forward to developing our role with Vicki's team and the Board, and in contributing to the Chamber's positive drive forward in recognising and serving the needs of members."

PCAOB Registration (November 2007)

EQ have recently been authorised by a United States Governing body, to be involved in assurance services for companies publicly listed in the US.

EQ have taken a bold step by registering with the Public Company Accounting Oversight Board (PCAOB) in the United States of America.

As a reaction to the well documented US corporate scandals of 2001 and 2002, the Sarbones-Oxley Act of 2002 was enacted, and this legislation established the PCAOB to oversee the Audit and Assurance processes relative to publicly listed companies.

This has to date primarily been of concern to the largest corporations, and therefore also to the largest international accounting firms. However, the impact is increasing and it is important that practices like EQ are in a position to deliver services as required.

EQ already have some international audit and assurance clients and expect to see this increase in the short-term. As part of Kreston International Limited, they are committed to supporting the delivery of client service worldwide, and in association with our United States Kreston members, we expect to deliver those services to a growing number of US publicly listed companies.

Financial services (October 2007)

With immediate effect, EQ have agreed a strategic alliance with AWD Chase De Vere (AWD), which will see the two organisations work closely together for the benefit of mutual clients. AWD have acquired the financial services company which was partly owned by EQ, and are now in the process of establishing new purpose built premises immediately adjacent to EQ's new Dundee premises. Throughout the UK, AWD employ over 1,100 staff and have a signficant share of the private investor and corporate market. Commenting on this significant development, EQ Partner, Keith Hopkins, said:-

"We have been impressed by their organisation, the people we have met, and the range of products and services which they have available. Their resources are as you would expect from such a large organisation - and the services they will offer our clients will be in keeping with our own high standards."

top of page