Meet Becky Dacre
Becky Dacre, Office Managing Partner at Forvis Mazars, explains what insolvency is and the type of work she does. She also shares insight into how insolvency professionals support businesses and individuals when they face financial difficulty.
Working in insolvency
ICAEW Chartered Accountants offer advice on how to improve a company’s cashflow and offer potential ways in which restructuring finances could enable the organisation to continue trading.
If a business cannot be saved, they will need an expert in insolvency to guide them through the process. This can often involve coordinating the sale of the organisation’s assets and paying creditors.
A chartered accountant’s role might also include explaining to stakeholders the nature of the agreements in place.
You will:
- Advise the effective management of cash and working capital;
- Renegotiate existing finances;
- Advise on areas for business improvement;
- Guide the business through the insolvency or winding-up process; and
- Explain legislation and timescales for legal procedures.
Why work in insolvency?
Specialising in insolvency offers ICAEW Chartered Accountants the opportunity to provide valuable advice to companies at challenging and difficult times.
The support you give can help struggling businesses to bounce back, offering massive job satisfaction, and for those undergoing insolvency your efforts can help to ensure the process goes as smoothly as possible.
The job can at times be challenging so you will need to be someone with strong emotional intellegence. You will be required to work professionally while also showing sensitivity to the situation the company finds itself in.