Accounting firm fears for its future
Vantis, a top 13 UK accountancy firm has suspended its shares on the Alternate Investment Market (AIM) due to funding fears. The lack of its finances has resulted in them to withdraw from trading on AIM. The drop in revenue of its tax and advisory division has been affected due to the recession.
I feel this story could affect the accountancy industry because it shows that accountancy firms are not immune from being affected by the recession. Many may assume that accountancy and advisory firms are not affected by global financial troubles, but this story shows that all industries are affected. I feel that Vantis, a well established accounting firm, will return back to financial stability in the form of a new investor, or bank funding.
Below is the link to The Guardian article:
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