Postmasters back forensic accounting – do you?

foresensicIn recent years, we’ve seen surprising reports about local postmasters being taken to court by the Post Office over theft, fraud and false accounting. The Justice for Subpostmasters Alliance was formed as over 100 sub-postmasters claim they were wrongly prosecuted due to issues with the computer software system. Now following their complaints, a forensic accounting investigation for the Post office has shed some light on the matter. Whilst the Post Office refutes the findings, reporter Nick Wallis has published extracts, which tend to support the subpostmasters concerns.

At Tarrant Green & Company our work in forensic accounting tends to be undertaken out of the media spotlight, in contrast to the current Post Office situation. Our investigations simply provide our clients with certainty and recommended next steps.

For example, we have:

  • Identified the extent of employee misappropriation of funds
  • Uncovered a £3.5 million inventory shortfall missed by Big 4 auditors
  • Found evidence to reduce an HMRC tax bill from £600,000 to £14,000.

The forensic accounting support we provide is a combination of accounting, auditing and investigative work. This provides you with the evidence base you need to resolve financial issues and can be used in legal proceedings.

For confidential support, email info@tarrantgreen.com or call +44(0)1438 869 644.

Leaders of British SMEs work 15 months a year

15The British Insurance Brokers’ Association (BIBA) conducted a survey of leaders of small and medium-sized enterprises (SMEs) with between 10 and 249 staff work. The research has revealed that they work 3 extra months in a year, over and above a 40 hour working week. On average SME leaders work 10 hours extra hours a week and this rises to 13.4 hours a week for those in the larger SMEs with 100 to 249 staff. The survey showed that back office tasks account for much of this additional workload.

  •  90 minutes per week is spent on marketing
  • 77 minutes on HR related activities
  • 73 minutes per week is spent handling insurance
  • 62 minutes is required to manage IT
  • 37 minutes is taken by dealing with office supplies

“It is concerning to think that SMEs work an extra quarter of a year, effectively doing a full year’s work by October. Much of this time is spent on tasks that have nothing to do with their core business goals,” commented Steve White, Chief Executive of BIBA

This situation is the reason why specialist firms like Tarrant Green & Company exist to provide financial and management consultancy services, and even advice and training on IT systems for accounting. The support provided by our senior partner, Tarrant, can help reduce your workload as a business leader and increase the profitability of your business.

Could you win a share of the £1 million investment Pitch to Rich?

coinsVirgin Media’s, Richard Branson and LinkedIn have launched the ‘Pitch to Rich’ campaign to back British entrepreneurs.

You could win support to get your idea off the ground. There are three different categories:

  1. Start-up: new business concept with huge potential
  2. New things: big new ideas with the capacity to disrupt
  3. Grow: for existing businesses that are ready to scale up.

Find out more about the financial and mentoring support available through this campaign, and what you need to do to pitch your business idea.