Guernsey’s accounting industry sees growth prospects

Auditing and accounting in Guernsey is experiencing an upswing in hedge fund business says Ernst & Young and Deloitte. Work focuses around transactions, share reissuing, advising and restructuring.

In plush new offices with the ubiquitous Guernsey view of the sea, Ernst & Young (E&Y) partner Michael Bane is reflective about how the hedge fund audit and accountancy business has been going over the past 12 months.

“The last calendar year was a slow and difficult time for pretty much everybody in the industry,” Bane says. He notes that any transaction activity for companies such as E&Y consisted of restructuring work, share reissuing and advising clients on de-leveraging.

“That kept our