Finance directors have called for accountancy firms to be less secretive about fee income in advance of publication of Accountancy Age’s annual top 50 league table later this month.
The calls for greater transparency also highlight the need for publicly available breakdowns of income between audit and consulting work, information which FDs say is vital when deciding which accountancy firm to use.
Neil Chisman, FD of Wembley plc, said FDs needed to see a detailed breakdown of a firm’s consultancy income before signing a contract.
‘You need to back up claims that consultants make,’ he said.
The call for more objective financial reporting endorses Accountancy Age’s independent league table, which ranks firms according to annual fee income.
It will also reveal a firm’s proportion of income from tax and insolvency.
With the deadline for data falling tomorrow, more Group A firms than ever have submitted fee figures.
Alistair Summers, FD of shirt company the Savile Row Company, said: ‘I’m a great believer in transparency. It helps the decision-making process.’
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel