On 24 March, Alistair Darling stood up to delivered a Budget for the last time in this Parliament. It is against the bleak backdrop of what appear to be the worst of times for the public finances. However, the tax on bankers’ bonuses has paid in part for a £2.5billion stimulus for small and growing businesses – is now the time for great expectations?

Ensuring efficient clearance… We have observed an increasing number of cases where both UK and EC competition authorities are requiring the appointment of a Monitoring or Divestiture Trustee before allowing merger clearance. The Trustee may act in relation to hold-separate obligations, monitoring viability or divestment requirements.

We're a national firm with over 2,200 employees and over 280 partners generating a fee income of over £204 million which positions us as one of the leading mid-tier accountancy firms. With a network of 29 offices in 25 locations across the UK, we are your local firm with national strength.

Investors and buyers are once again combing the software and technology sectors in search of acquisition and investment opportunities. The software sector was particularly hard hit by the boom and bust of the dot com era. Companies that watched their valuations rise to sky high levels on the back of a frenzied rush to exploit the internet were caught in a reverse wave as investor interest all but evaporated. Up until the global economic meltdown the sector was enjoying a renaissance and valuations were on the up. The trend was driven in part by acquisitive corporate

Less than 12 months ago, central bankers and commentators were worrying about an overheating world. But even as they did so, storm clouds were gathering over the economy. In July the clouds broke and the temperature has been dropping ever since... So what to do? The financial world is full of doom and gloom and it’s easy to get dragged into despondency. However there are things you can do to strengthen your business in readiness for a less hospitable environment. And maybe there are advantages...change brings opportunity and for the well

P h o to g ra p h y : G e tt y Im a ge s Obama under the microscope As the new US President settles in, the world is watching his economic policies closely. viewpoints investigates… As The Daily Telegraph put it on 27 November 2008, Barack Obama has hired “many chefs” to deal with the “stew” of the American economy. The newspaper was referring to the appointment of a heavyweight team of economists to advise on policy as the US grapples with a global recession. The big beasts include: former Federal Reserve Chairman Paul

Statutory offences fall into three categories: false representation, failure to disclose information, and abuse of position. The litmus test for fraud under the new Act is whether a reasonable person would consider an action dishonest.

All schemes, unless exempt, are required to have adequate internal controls. It is for the Trustees to decide what internal controls are needed to satisfy themselves that the scheme is being well managed in accordance with legislation and the scheme rules. Smaller schemes may require less formalised controls than more complex larger schemes, but regardless of size, key risk areas will still need to be adequately controlled. Here we set out some key features found in good systems and further questions for Trustees to consider when understanding, documenting and establishing systems.

There can be little doubt that 2008 produced the most difficult market conditions many of us can remember, affecting investor confidence and the number of new companies joining markets across the globe. The current financial crisis has forced unprecedented action by governments, central banks and regulators across the world. Now established as an integral part of the fabric of the City of London, AIM has not been immune to the turbulence in the global economy. Despite the onset of the credit crunch, AIM has remained open. It is only relative to AIM’s extraordinary

We're a national firm with over 2,200 employees and over 280 partners generating a fee income of over £204 million which positions us as one of the leading mid-tier accountancy firms. With a network of 29 offices in 25 locations across the UK, we are your local firm with national strength.

We're a national firm with over 2,200 employees and over 280 partners generating a fee income of over £204 million which positions us as one of the leading mid-tier accountancy firms. With a network of 29 offices in 25 locations across the UK, we are your local firm with national strength.

This is the first of an occasional series aimed at companies either with securities already traded on one of the UK Capital Markets, or contemplating admission to trading, and their advisers. This first issue deals with the forthcoming changes to IFRS which may affect issuers either as part of continuing reporting obligations or in preparing for admission. By its nature, this publication is for guidance only and cannot substitute for detailed research or advice on the applicability of the standards and interpretations to an entity’s own individual or group circumstances.

Welcome to the first edition of the Baker Tilly Finance Director survey. Focusing on the key issue for 2008, we assess the impact of the credit crunch on UK business, and the steps Finance Directors are taking to adapt their companies to a rapidly changing and uncertain economic climate. Surveying UK companies outside of the financial sector with a turnover of less than £250 million; the study

That Dickensian cynicism about debt rings uncomfortably true as we reflect on 2007 and move through 2008. So much depends on confidence and trust. We take it for granted until someone calls in a loan. Then rumours start, fear spreads and the values that had been keeping the financial machine nicely oiled can ebb away very quickly. In the wake of such panic, the best way to restore faith is rational analysis and meticulous preparation. This offers some hope - stuff we can actively do rather than waiting for the hit.

INTERNATIONAL CORPORATE GOVERNANCE ROUNDTABLE Companies have expanded their corporate governance frameworks in recent years to improve transparency and minimise the risk of internal fraud. The emphasis on

Companies Act 2006 Provisions being implemented on 1 October 2008 in relation to limited liability partnerships

We hope the findings contained over the following pages are both useful in enabling you to benchmark where your governance is compared to other charities, and in highlighting areas for improvement. What is clear over the period this research has been undertaken is that governance standards have undoubtedly improved across the charity sector. However, this is no time for charities to rest on their laurels.

Paul Elliot, Corporate Finance Partner at Baker Tilly Corporate Finance LLP, considers the issues involved in seeking to exit under performing companies, and how to maximise value.

Managing your way through the downturn: A Baker Tilly Management Consultancy guide to surviving and thriving under tough economic conditions

Last year, Baker Tilly’s Professional Practice Group launched a series of three breakfast forums aimed at exploring alternative structures and funding for professional firms. We know from those who participated that the discussions flagged many key areas for firms to address.