A Quarterly Newsletter from the UAE and Oman member firms of the PKF International Ltd.

VOL 18, Issue 1 January 2016

PKF International

KF BULKS UP IN THE UK
East Midlands-based PKF Cooper Parry will merge with Birmingham-based Clement Keys in early January 2016. The newly merged firm will have combined revenues of £30 million and a team of more than 350 people across its two offices in the East and West Midlands. The addition of Clement Keys would further strengthen PKF’s UK presence as the eleventh largest network.

MERGER IN NEW YORK
PKF member firm, O’Connor Davies, LLP, has announced a merger with Stanley Marks & Company, LLP, a full-service accounting firm based in Newburgh, NY. Stanley Marks has a 65-year history serving clients across a range of industries, with particularly deep expertise in the medical and commercial practice areas. This is the latest in a series of recent mergers by O’Connor Davies as the firm continues to grow its regional and national presence while building on their niche practice areas.

MAJOR NEW REPORT ON FRAUD
London-member firm, PKF Littlejohn, and the Centre for Counter Fraud Studies at the University of Portsmouth have produced the new report, ‘The Resilience to Fraud of the Charity Sector in England and Wales 2015’. It is the most extensive and comprehensive report yet undertaken into how well charities are protected against fraud, building on a similar report published in 2010.

PKF Littlejohn and the University of Portsmouth worked with the Charity Commission to develop a charity-specific version of the Self-Assessment Fraud Resilience (SAFR) tool (originally sponsored by the Government’s National Fraud Authority) which was released for use in February 2015. The Charity Commission publicised the existence of this tool to all charities and invited them to complete it.

PROBATE SERVICES OFFERED 
PKF Cooper Parry has launched probate services after it was granted its Alternative Business Structure (ABS) licence. It is one of only a handful of accountancy firms in the East Midlands now allowed to carry out probate under the new ICAEW rules. Until recently only lawyers were permitted to offer probate services but having ABS allows registered accountancy firms to offer these additional legal provisions.