Professional Practices occupy a unique position in the commercial arena. What separates them from other businesses is the clear definition of minimum acceptable ethical principals and practices, which are adopted by these qualified and recognised professional organizations to guide their members in the conduct of specific professional practice.

Doctors, Barristers, Solicitors, Accountants, Architects, Pharmacists and Dentists all come into this category and are, as a result are viewed by the general public and industry as repositories of best practice and best advice in a way that other occupations may not be. But with this vaulted position comes strong regulatory scrutiny and an expectation of the highest business standards.

Financial scrutiny is a part of this and if anyone was in any doubt as to the ramifications of less than utterly transparent and compliant financial reporting, then the recent MP’s expenses scandal is a salutary reminder of how a whole tier of respected figures has come crashing down in the public’s perception.

Certain professions have gone so far as to lay down specific financial reporting requirements – Solicitors Accounts being just one example. In other professions the accounting for public sector contracts, particularly with the NHS has its own protocols. Many businesses operating in these sectors have traditionally been sole traders or partnerships. With many firms deciding to change this legal status to LLP or to a conventional limited company status, issues like Business Valuation become into play.

From our base in Beaconsfield in Buckinghamshire, Harwood Hutton uses its long standing expertise in Professional Practices to deliver high level intervention to clients across all areas of the sector and, geographically, into West London, across to Reading and north to Oxford and beyond.