PracticeAccounting FirmsAccounting heads for 80% growth

Accounting heads for 80% growth

Forecasters are predicting that demand for accounting services will grow by more than 80% between 2002 and 2007.

The upbeat message comes as a result of increased competition and the demands of getting to grips with a raft of new accounting standards, according to Key Note, the market information specialist.

Link: See the Accountancy Age Top 50

Despite the difficult time experienced by accountants as a result of the scandals at WorldCom and Enron, there is still extremely strong growth to be had in response to client demands for additional advice and help.

Key Note estimates that annual growth in 2002 would be 10.7%, 14.6% in 2005, stable in 2006 and 8.5% in 2007.

The report from Key Note adds: ‘The accountancy market has shown itself to be a robust one in recent years. Nevertheless, the pressure on fees in the core segments of the market – audit, accountancy and tax – is likely to continue.’

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