Q&A with David Clout

Why did you become an insolvency accountant?

I became interested in insolvency work for three reasons.

First, I find the strategic side of the work very interesting and challenging. I also find it rewarding to come up with a solution for an individual or company that means they avoid bankruptcy, voluntary administration, receivership or liquidation.

Second, I like project-based work. I enjoy analysing problems from a number of perspectives and formulating the best possible solution for a situation. I also find it satisfying to apply the solution and make sure it works. With individuals who are facing financial difficulties, I like knowing that someone we have advised is now equipped (provided they follow the plan and strategies we have set out for them) to move on to a financially secure future. With companies, too, I find it satisfying to analyse a problem, or set of problems, devise a strategy (whether it involves restructuring, new management strategies or an innovative marketing plan) and see it applied. Of course, it is satisfying to see a company that has faced financial difficulties moving on to a bright future.

Third, in relation to insolvency appointments (bankruptcy, voluntary administration, liquidation and receivership, I like knowing that we have provided the best possible service at a fair price.

Why did you set up David Clout & Associates?

I could see there was a need in the market for an insolvency accounting firm that would provide sound advice to clients at a reasonable cost.

I also wanted to assemble a small but very capable team of like-minded people who were excellent not only at number crunching and procedure but also at strategy.

My other objective, and this may sound like a bit of a cliché, was to create a firm where people enjoyed coming to work each day. The corporate sphere doesn’t have a great reputation among gen Ys. Also, older generations often accuse gen Ys of not wanting to work. However, I don’t see them that way at all. I think they are an interesting generation who don’t mind hard work as long as they feel they are learning something and they find the work personally rewarding. Many of them are reluctant just to function as cogs in a big money-making machine. In many ways, I think they are more thoughtful than we were at their age.

Why should clients retain David Clout & Associates?

I think there are four main reasons.

First, we are good on the details. Not only is our team highly educated, but all my managers have had experience of working for other firms, across a broad range of industries. In short, they know insolvency procedure backwards.

Second, we are strong on strategy. All our people have a flair for strategic thinking; in fact, I would say that our willingness to analyse problems from a number of perspectives is the main reason why clients should talk to us first.

Third, we have a strong team-based culture. By that, I mean our managers know how to manage junior staff. They not only help train them, but ensure they get a range of experience when they work on a matter. This means that everyone is highly motivated. Our graduates don’t become bored and disgruntled with the work they are doing, because we make sure everyone who works for us gets experience in a range of areas. For clients, this ensures that the work being done on their matter is of the highest quality, as our staff don’t feel they are merely seen as a ‘resource’.

Fourth, we have adopted a flexible approach to billing. If you come and talk to us, we will work out the best way to charge you, depending on the nature of your matter. This involves exploring both time-based billing and fixed-fee options.