Accountancy and business advisory firm BDO LLP has appointed senior advisory specialist, Michael Stallard, as UK SOx and Controls Advisory National Lead.
Michael, who will be based across the North, joins from Deloitte where he helped businesses to modernise their controls in line with broader digital strategies. At BDO, he will be responsible for building the firm’s UK SOx proposition – Sarbanes-Oxley (SOx) and its impact on corporate reporting – and working with clients to enable them to respond to the financial reporting changes arising from the government’s BEIS consultation.
Ruth Ireland, partner and National Head of Risk Advisory Services, said: “We’re delighted to welcome Michael to the BDO team. He brings considerable experience in the Controls Advisory and SOx field, having led large and complex engagements in this space.”
Hamid Ghafoor, partner and lead for the Risk and Advisory Services team across the North of England, said: “Michael is perfectly placed to help us respond to the expected UK regulation and enable clients to prepare for that change.”
In March, the Government launched a white paper on corporate governance and audit reform. Subject to consultation, the anticipated reforms are intended to ensure accurate financial reporting to increase trust in corporate governance, provide confidence to investors and enhance the quality of management information within a business.
Michael said: “Whatever the outcome of the Government consultation, there has been a real step-change in the corporate view and approach to controls, the benefits they can bring, and the advantages of being a well-controlled business.
“This is a once-in-a-generation opportunity for corporates and public interest entities to revolutionise and digitise their approach to controls and generate real value like never before.”
He added: “At a time of considerable change in the market, the opportunities will be significant. This was a genuinely appealing and exciting chance to join an entrepreneurial firm – one with a strong brand and compelling culture.”