Begbies Global Network (BGN), a
multidisciplinary network that specialises in insolvency work,
predicts the downturn in the economy will assist its recruitment of
new members.

Executive chairman Nick Hood told the International
Accounting Bulletin
the current economic situation has
affected BGN in a more positive way than most.

“It is not overwhelming us with business at the moment but you
can see it is going to happen,” he said. “We are also finding it
even easier now to recruit because suddenly insolvency is at the
front of everybody’s thought process.”

BGN is a global association of independent accounting and law
firms working with stressed and distressed businesses and their
stakeholders.

In the past two-and-a-half years, BGN has increased from seven
to 90 member firms and affiliates in 93 countries. The combined
revenue of member firms is about £100 million ($152.2 million), and
accounting member firms generate three quarters of this.

BGN member firms offer a range of services to their clients
including corporate finance, forensic accounting, asset/people
tracing and profiling, corporate intelligence, security/risk
analysis and tax advisory services.

Hood said there is currently a high demand for insolvency
work.

“Usually, it is the normal run of construction, printing, media,
manufacturing, and travel and leisure,” he explained. “Also,
alongside financial services right now, the travel sector is a lot
busier.”

BGN’s strategy is to focus on expanding its membership
worldwide.

“We have two target areas,” Hood explained.

“South America – Argentina, Brazil and in some other major Latin
American jurisdictions – and the Middle East – Dubai, Abu Dhabi,
Bahrain, Qatar and Egypt.

“There have been visits to these regions in the past month and
we have found the first couple of firms we were looking for.”

Recently, the network admitted Canadian firm Farber Financial
Group.

BGN has also appointed Birgitte Ovesen as executive director.
Ovesen was previously the executive director of operations and
company secretary for Morison International.

Nicola Maher