Inconsistencies in the IT systems used by brokers could jeopardise potential management buyouts and mergers, accountancy firm Mazars claimed today.
A report issued by Mazars suggested only 15% of brokerage firms with a turnover of less than £10m are following recognised industry standards.
The figure for firms with a turnover of more than £10m is just 18%.
Mazars said discrepancies could mean difficulties for smaller companies looking to expand through acquisition or seek buyers.
Senior manager at Mazars Alistair Bennett said: "Worryingly there is no clear standard in place.
“There is also a dependency on small niche consultancies to maintain and develop systems, which can be a very high-risk strategy.”
