MGI Worldwide, the Top 20 international accounting network, states that mid-tier accountancy firms are steering away from audit work.
They have found:
- Decrease in audit work taken on – 45% (2015) 50% (2014) 52 % in 2013.
- Due to lower profit margins, slower growth rates and higher legal risks
- Management consultancy or tax advisory more profitable
- Profit from non-audit work, like consultancy, insolvency and tax advice, in 2015 prove more profitable.
- Profit from non-audit work 61% of their total fee income.
- Significant revenues generated from cyber security, data analytics and regulatory advice.
Audit work or otherwise, Salhan Accountants always put the client at the heart of the business and no task is too big or small. We believe that we should cover all aspects so that we can best represent you and your business. Providing you with the best financial position possible.
Strengthen your business with Salhan Accountants.
