Why are People with ACA/ACCA moving into Insolvency and Restructuring?
There seems to be a growing trend in the UK where newly qualified accountants are choosing to move into the world of insolvency and restructuring over more traditional careers. Our experience in this area allows us to look at why this is and help you consider if this could be the right move for you.
ACA Jobs
The day-to-day tasks in insolvency and restructuring roles are far more varied and challenging than traditional accountancy positions. The ACA/ACCA-trained individual will deal directly with senior managers or Directors whilst working in a wide array of industries and organisations. The objective of each project will vary each time but will ensure you get a deep understanding of the business and the mechanics which make it work (or not, in some cases).
A role in insolvency and restructuring offers a huge amount of job satisfaction and is ideal for those that enjoy problem-solving. They will work on challenging scenarios and situations, but the outcome is genuinely life-changing for those involved. There is a distinct level of satisfaction in analysing, identifying issues and ultimately working towards a resolution.
The role also incorporates a wide range of activities that more traditional accountants would never be involved in. This could be reviewing assets, operations, procedures or dealing with valuations. The role is fast-paced and analytical but one that is never the same. It requires quick thinking and a good understanding of the issues facing a modern business.
It is also an industry that, due to the Covid 19 pandemic and a looming recession, is growing and rapidly becoming an important business service.
Is it for me?
To build a successful career in insolvency and restructuring you must accept the role comes with a certain level of pressure and tight deadlines. Whilst the aim is always to try and help the business survive, there will be occasions where no matter the good intentions of the practitioner, there is no option but to cease the business. However, often this can release people from the constant worry and free them to move forward and build something new with more insight, knowledge and experience.
Due to the variety of industries and disciplines involved in insolvency and restructuring projects, you must be adaptable and able to absorb new information quickly to pivot and keep moving forward.
Harvey Sutton is one of the leading insolvency and restructuring recruitment agencies with connections to all of the major employers in the UK. If you are ACA or ACCA trained, call us today to discuss how you could move into this growing and exciting industry. We have roles available now which may be of significant interest to you.