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Accountants throughout the World are coming to terms with the aftermath
of the Enron and World-Com scandals in the United States. The implications
are far reaching and will undoubtedly lead to changes in the way
that the profession is regulated and to the presentation of financial
information. We await developments!
There are crucial differences, however between the US and UK systems
for regulating accountants and accountancy. The US system tends
to be based upon a mass of detailed regulations whereas UK systems
are based upon general ethical principles which are much more difficult
to circumvent.
Quality has never been an issue for Straughans and is integral
to our approach to all aspects of accountancy. We have a continuous
programme of training for directors and staff combined with regular
quality assessments.
Nowadays we are all accountable; to our partners, staff, shareholders,
lenders, regulatory authorities etc., etc., The list is endless!
It is essential therefore that financial statements must comply
with current accounting standards and be faithful to the concept
of ‘true and fair’ which has long been the hallmark of
UK accountancy practices. We fully endorse this concept and strive
to maintain the integrity of our work.
We are gradually moving away from compliance-based work into an
added-value regime, which among other things includes financial
projections, business plans, management accounts, financial information
systems, profit improvement review etc.
Our vision is to work in partnership with our clients, and other
professional advisers, so that they may achieve their objectives
and realise their true potential. And – we also do accounts!
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