News Article - 24 May 2012
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The Institute of Chartered Accountants in England and Wales (ICAEW) is to provide small businesses with expert financial advice as part of its SME Funding Advisor Scheme.

With the aim of ensuring that businesses can access a range of independent financial advisors who can provide guidance on a variety of business finance options, the scheme was set up as a response to a 2004 government initiative.

A report entitled Facilitating Finance was issued by the government and Accountants Working Group recommending the implementation of measures to allow SMEs to easily identify the right financial advisors for them.

Chief executive of the ICAEW, Michael Izza, said: "I am delighted that the institute is the first professional body to establish this scheme.

"Our research shows that accountants are the most frequently consulted source of external business advice by businesses."

Some 1,900 ICAEW businesses have signed up for the scheme, registering specialisms including advice on business plans and equity finance.

Earlier this month the institute welcomed the publication of draft Money Laundering Regulations prior to their implementation which is expected in December.

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