Research by accountancy firm Mazars said huge inconsistencies in...
Research by accountancy firm Mazars said huge inconsistencies in the IT systems of broker firms jeopardise management buy-outs and mergers.
Mazars' survey revealed that only 15% of brokers with a turnover of less than £10m were following a recognised industry standard for managing the purchase, use and development of IT resources and services.
The figure for firms with a turnover of greater than £10m was only marginally higher at 18%, added the firm.
Mazars warned that this lack of uniformity could provide succession difficulties for smaller companies as they looked to expand through acquisition or seek buyers.
Only 50% of companies had identified and secured secondary facilities to continue data and administration processing in the event of a disaster and only 42% of companies with a turnover in excess of £10m had a formal IT organisational structure in place, said the survey.
