The Mid-Tier Power Index – Last chance to apply!

The Mid-Tier Power Index - Last chance to apply!

Just four days remain for UK accounting firms to secure their entries for the brand new industry ranking

The Mid-Tier Power Index – Last chance to apply!

UK accounting firms have just four days left to apply for Accountancy Age’s brand new industry ranking, the Mid-Tier Power Index (MTPI).

Firms with a UK fee income between £3m and £700m have until August 8, 2022, to submit their entries for the inaugural ranking.

To be recognised among the top firms in the industry, enter the MTPI by completing the online application form.

For detail on how to enter please review our MTPI Entry Pack.

What is the Mid-Tier Power Index?

The MTPI is the latest addition to Accountancy Age’s prestigious portfolio of rankings and awards, which includes the 50+50 and 35 under 35.

It will seek to recgonise mid-sized accountancy firms in the UK that champion true excellence, ranking them based on highest quality of service to clients, adding significant competitive advantage, and the demonstration of professional excellence over the past 12 months.

For UK firms within the £3m-£700m fee income bracket, this is a one-of-a-kind opportunity to showcase excellence, benchmark against other practices, and put forward your outstanding achievements to an expert panel of board-level executives.

What are the criteria?

The entry form for the ranking is broken down into four key criteria:

1.      Strategic planning

Here, firms will provide evidence of a clear strategic plan. This should include strategy and vision with measurable KPIs to monitor performance, detail of what makes the firm stand out, and a demonstration of the value add that you are providing beyond traditional accounting practices.

2.      Profitability and growth

This will be an opportunity for firms to demonstrate how they have grown over the past year. This should include changes to fee income and profit per equity partner, detail of the strategy for winning and retaining new clients, and a breakdown of client base growth and value.

3.      Professional excellence

Firms will provide evidence of a time they showed excellence with regards to conduct, integrity and performance. This may include evidence of meeting or exceeding the requirements of customers evidence of meeting objectives without compromising professional integrity, and an explanation of how the firm upholds high standards of professional conduct.

4.      People and community

Finally, firms will be invited to provide evidence of the value and investment of their workforce. This may include evidence that the employees view the business as a great place to work, examples of career and skills investment within the practice, and highlights of any rewards and recognition for personal achievement and employment benefits.

Entrants will be asked to provide evidence on how they have excelled in each of these areas in 200 words or less.

Who are the judges?

The MPTI will be judged by a panel of experts from across the UK accountancy industry, including partners and directors from a selection of prominent industry participants. They are:

Rakesh Shaunak

Rakesh qualified as a chartered accountant with a top five firm, gaining experience of large corporate audits and qualifying as a member of the Institute of Taxation. He is senior partner and chairman of MHA MacIntyre Hudson and proactively leads collaborative working between Baker Tilly International global offices to most effectively meet the needs of our clients.

Glenn Collins

Glenn Collins is interim head of the Association for Chartered Certified Accountants (ACCA). He is responsible for advice and support to ACCA members on issues including audit, financial reporting, business and credit advice, taxation, company and business law, ethics, export and access to finance. Glenn spent 16 years in public practice, specialising in audit and business advice, before joining ACCA nearly 22 years ago.

Subarna Banerjee

Subarna is managing partner of the London and Nottingham firms of the UHY Hacker Young Group, a top 20 UK network. He is also Chairman of UHY International, the global network of accounting and consulting firms. Alongside his more than 20 years of audit experience, Subarna also chairs the London and Nottingham firms’ executive committee, is a member of the UHY Hacker Young Group’s UK board and previously led UHY’s national charities and NFP sector group.

Paul Ginman

Paul Ginman is the COO and global head of quality for Nexia International, a leading, global network of independent accounting and consulting firms. Paul is responsible for driving quality initiatives across all service lines through the Nexia service committees. This helps to ensure that Nexia member firms deliver quality services across the globe. Paul previously worked for Mercia Group Ltd, and before that he was the COO for Baker Tilly International, where he was involved in the recruitment and development of member firms.

Aaran Fronda

Aaran Fronda is the managing editor at Accountancy Age. Previously, he worked as a financial journalist and market reporter at various publications including Euromoney, Mergermarket and Dealreporter. He is excited to be a member of the judging panel for Accountancy Age’s inaugural Mid-Tier Power Index (MTPI), and believes that the MTPI is the perfect addition to Accountancy Age’s strong portfolio of long running rankings and awards.

There will also be an opportunity to add up to two pieces of supporting material at the end of the application. This may include a short video, or an A4 page of written material containing charts, testimonials or financial reports.

Entries for the inaugural index are open now, but will close in just two weeks. The inaugural index will be announced in September.

For any and all queries, please email [email protected].


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