British industry has been saved! How? By the launch of an organisation called The Association of Profit Advisers. Thank God! Now we have specially trained people whose job is to search out inefficiency and optimise revenue-generation. Mark Lloydbottom, chief exec of the association, said at the launch: “Traditional accountancy services are increasingly seen as parasitic, taking advantage of statutory auditing and accounting requirements without adding any value.” Hmm. His words might have carried more weight had he not been launching the new group at the Moorgate Place HQ of the ICAEW – and had the membership of the group not been dominated by “parasitic” chartered accountants.
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Third of UK companies with defined benefit pensions schemes are paying out more from their scheme in pensions than is being received in contributions