Four in five accounting firms have devised strategies to deal with the
economic downturn but have failed to consult staff about their plans, according
to a survey.
Of 200 firms surveyed by Kato Consultancy, 84% said that they had not
consulted staff when putting together a strategy to deal with the economic
Yet the firms still expected their partners and staff to work more
effectively to help them weather the downturn.
‘Despite the fact that increases in speed and efficiency of work feature
strongly in the majority of these strategies, the staff who will bear the brunt
of the work required for implementation have not been consulted,’ Kato reported.
As the UK slides into recession, two-thirds of firms expect to see turnover
decline compared with the previous year and 55% expect to reduce employee
numbers through a recruitment freeze or redundancy.
Four in ten respondents expect clients to ask for extended credit.
Mazars has announced the appointment of Michael Tripp as the new head of financial services
A new leader, Darra Singh has been appointed to lead EY’s UK government and public sector practice
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com