Saffery

Saffery is a firm of chartered accountants in the United Kingdom. It has nine offices across the UK as well as offshore. The firm acts for clients across specialty sectors including private wealth, landed estates and rural businesses, not-for-profit, entrepreneurs, sports and entertainment.

This article is about accounting firm. For other uses, see Saffery (disambiguation).
Saffery
TypeLimited Liability Partnership (LLP)
IndustryProfessional services
Founded1855
HeadquartersLondon, United Kingdom
Key people
Matthew Burton, Managing Partner
Saffery Champness
ProductsAccounting
Audit
Corporate Finance
Outsourcing
Tax
Trusts
VAT
RevenueIncrease£101.4 million GBP[1] (2021)
Number of employees
792 (2021)
Websitewww.saffery.com

Saffery is a member firm of Nexia International, a worldwide network of accounting and consulting firms.[2] Matthew Burton is the firm's managing partner.[3]

History

Saffery Champness was founded in 1855 by Joseph John Saffery at London's Guildhall chambers. In 1880, the Institute of Chartered Accountants in England and Wales (ICAEW) was formed. Saffery was a founding member of the first council and its president between 1889 and 1891.[4][5]

On 1 July 1982, Safferys and Champness, Cowper & Co, founded by JH Champness, merged to practise as Saffery Champness.[6] In 1986, the international network SC International was founded by the firm. This went on to merge with Nexia International in 2007 to create a global provider of audit and advisory services.[7]

In 2010, Jonathan Fox became the firm's managing partner – the first non-accountant to lead a top 20 firm.[8] On 1 October 2012, the firm announced the acquisition of the Film & TV Unit of RSM Tenon. The transaction enabled them to build their Sports and Entertainment Group.[9]

In 2013, Saffery Champness was involved in developing and lobbying for the UK Tax Relief and were the advisers for the production's cultural test application.[10] In May 2015, Rob Elliott became the firm's managing partner.[11]

In 2016 the firm relocated its London office to 71 Queen Victoria Street in the heart of the City of London.[12] In 2017 it was announced that James Sykes had been elected to a four-year term as chairman of the firm.[13] In 2017, the firm opposed changes by the UK Government to require Scottish limited partnerships to disclose "persons of significant control", saying it was a "further erosion of privacy".[14] In 2018, Matthew Burton became the firm's managing partner.[3]

In 2021, the Financial Reporting Council opened an investigation into work done by Saffery Champness in auditing Greensill Capital's accounts between 2014 and 2019 after the company's collapse. The firm said it would cooperate fully with the FRC.[15][16]

In May 2022, Saffery Champness registered fiduciaries acquired Cayman-based Holden Trust and established a Saffery Champness office in the Cayman Islands.[17] In September 2023, Saffery Champness rebranded as Saffery.[18]

Locations

Saffery has nine offices in the UK in Bournemouth, Bristol, Edinburgh, Harrogate, High Wycombe, Inverness, London, Manchester and Peterborough. They also have offices in Geneva, Guernsey, Dubai, Dublin and Zurich.

References
  1. "Accounting Firms 2021". Accountancy Age. Archived from the original on 15 June 2022. Retrieved 7 June 2022.
  2. "Nexia International". www.saffery.com.
  3. "Matthew Burton elected as new managing partner". www.saffery.com. Retrieved 2018-05-25.
  4. "Saffery Champness family tree" (PDF).
  5. "Past presidents of the ICAEW" (PDF).
  6. "Firm focus - Champing at the bit | Accountancy Daily". www.accountancydaily.co.
  7. "Accounting firm Nexia to buy SC International, Reuters, August 2007". 31 May 2023.
  8. "Best Practice: Saffery Champness' Jonathan Fox". Accountancy Age. July 17, 2013.
  9. "Saffery Champness confirms acquisition of Tenon film unit staff". Accountancy Age. October 1, 2012.
  10. "Saffery Champness Advises on First TV Drama to Qualify for UK Tax Relief, The Production Guild, April 2013".
  11. "Saffery Champness elects Rob Elliott as new managing partner". www.saffery.com.
  12. "Saffery Champness relocates to brand new City of London HQ | CCH Daily". www.accountancylive.com. Retrieved 2017-12-07.
  13. "Chairman elected at Saffery Champness - Accountancy Age". Accountancy Age. 2017-01-09. Retrieved 2017-12-07.
  14. Leask, David (September 2017). "Elite Edinburgh accountants host firm in £40m KGB fraud probe". The Herald. Retrieved 20 September 2023.
  15. Makortoff, Kalyeena (8 June 2021). "Greensill: watchdog opens investigation into auditors including PwC". The Guardian. Retrieved 20 September 2023.
  16. Jones, Huw (28 June 2021). "UK watchdog investigates Greensill and Wyelands Bank auditors". Reuters. Retrieved 20 September 2023.
  17. "Saffery Champness acquires Cayman-based Holden Trust". www.accountancytoday.co.uk/. Retrieved 2022-06-08.
  18. "SAFFERY LLP". Find and update company information Gov.UK. Retrieved 2023-09-04.
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