The accounting profession is on a steady rise in UK and Ireland, according to the latest report on key facts and trends in the accountancy profession by the Professional Oversight Board (POB), the operating board of the Financial Reporting Council (FRC).

According to the report, the number of chartered accountants in the UK and Ireland have been growing at 2.5% a year since 2002, to 277,761 in 2007 – up 2.8% on 2006.

‘Once again this report illustrates the strength of the UK accounting profession and its continued growth, reflecting the attractiveness of the profession to new recruits both in the UK and internationally,' Paul George, POB director, said.

‘Both total fee income and audit fee income for the registered audit firms within our analysis continues to show strong growth. The larger registered audit firms now consistently generate more income from non-audit clients than their audit clients, reflecting more stringent independence rules and market practice. While the Big Four firms continue to dominate the audit market for the largest listed companies, it is interesting to note the increased market shares of non-Big Four firms for listed companies outside of the FTSE 350.’