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UK Accountancy Market Update 2016

  • ID: 3673414
  • February 2016
  • Region: United Kingdom
  • 101 Pages
  • Key Note Ltd
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In the broadest sense, accountancy covers four major activities:

- Audit and accounting
- Tax and legal services
- Corporate finance and business recovery
- Consultancy services

However, the two key areas accountancy firms really tend to focus on are audit and accounting, and tax services, and this is where many firms draw the majority of their income from, in addition to the provision of legal services to a lesser extent.

Auditing is usually carried out by the medium to large accountancy firms because the process requires several specially trained, skilled staff; these are known as auditors. Auditing is not provided by many smaller accountancy firms because of the costs involved. All auditors are accountants, although not all accountants are auditors as not all accountants have the necessary skills and qualifications required to be an auditor.

Some of the largest firms in the industry also offer management consultancy services, which have become increasingly common and lucrative in the current market and, as such, are earmarked as a key growth area by many firms.

The largest four accountancy firms in the UK - PwC, Deloitte, KPMG and EY - are collectively known as the ‘Big Four’. This is terminology that will appear throughout this report. They dominate the accountancy market, particularly in the area of auditing - they were the auditors for more than 90% of FTSE 100 companies in 2014.

Market Sectors

Auditing READ MORE >

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1. Introduction & Definition
- Report Coverage
- Market Sectors
- Auditing And Accounting
- Tax And Legal Services
- Corporate Finance And Business Recovery
- Consultancy Services

2. Executive Summary

3. What’s Key In The Market?
- Key Drivers
- Market Trends
- Auditing Market Becomes Less Static
- Continued Tax Clampdowns And Further Pressure In The Audit Market Sees Greater Diversification
- Employment Shortfall: The ‘Brain Drain’
- Forensic Accountancy
- Rise In Mergers
- Economic Trends
- Market Position
- How Robust Is The Market?

4. Market Size, Segmentation & Forecasts
- Market Size & Segmentation
- The Total Market
- Market Sectors
- Forecasts
- Future Trends
- Future Economic Trends
- Forecast Total Market
- Market Growth
- Overseas Trade
- Overview

5. Strengths, Weaknesses, Opportunities & Threats
- Strengths
- Weaknesses
- Opportunities
- Threats

6. PESTEL
- Political
- Reforms From Graham Review Into Pre-Pack Administration Implemented
- Devolving Tax Powers
- Accountants And Advisers Required For Auto-Enrolment
- Landlords Ltd
- Economic
- Corporate Insolvencies
- Business Investment
- US Companies And Tax Inversions
- Social
- Islamic Finance And Sharia Law
- Employment Trends
- Technological
- Environmental
- Carbon Emissions Reporting
- Legislative
- Solicitors Regulation Authority Decides To Cease Regulating Insolvency Practitioners
- Tax Legislation
- EU Accounting Directive
- Audit Exemption Threshold
- EU Introduces Us-Style Chapter 11 Corporate Insolvency Proceedings
- Alternative Business Structures

7. Company Financials

8. Further Sources
- Associations
- Publications
- Government Publicationsother Sources

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- Deloitte
- EY
- KPMG
- PwC

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