Non-audit clients provide largest fee growth for firms

by Naomi Rainey

More from this author

12 Jun 2014

  • Comments

FEES FROM WORK conducted for non-audit clients provided firms with the largest growth in income for 2012-2013, according to FRC figures.

PwC, KPMG, EY and Deloitte saw 5.8% growth in this area, while their overall growth slowed to almost half that of the previous year, at 3.9%. This compares to a total increase in fees of 7.7% in 2011-2012.

The largest firms outside of the Big Four had their best performance in the last five years in 2012-13, with a 2.6% increase in total fees, Key Facts and Trends in the Accountancy Profession revealed.

Fees from non-audit clients climbed by 5.7% for mid-sized firms, offsetting a reduction in audit fee revenue of 1.7% and a 0.5% decline in non-audit work conducted for audit clients.

The Big Four continued to dominate across all areas, with a 2.8% increase in revenue from audit work.

However, the group saw a 3.2% fall in income from non-audit work for audit clients, following debate over conflicts of interests in audit contracts.

Elsewhere in the report, the FRC found membership of accountancy bodies continued to grow, rising 2.7% from 2009 to 2013 to 327,000 members in the UK. The number of students increased by 1.6% in 2013 to 167,000 UK-based trainees.

FRC executive director for conduct Paul George said: "It is clear from the report that the profession remains attractive with the number of students and new members indicating there is a good flow of bright, young accountants coming into the profession who will be able to support our economy in the years to come."

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.