Top 50 + 50 remains competitive despite economic challenges

2022 has been a challenging year for accountancy practices. Accountants have been been busy helping clients get back to normal post-Covid, which has not been easy given rising inflation and increased living costs. Despite this, most firms have seen a good level of growth, and performance has been impressive across the board.

Firms are also starting to recognising the need to hire talent with the skills required to understand the tech landscape, and to lead on conversations about new digital tools with clients. These employees can also seek out the tech providers who can offer continued support – which is what the firm and its clients really need.

What we are seeing is that accountants are looking to reduce time spent on traditionally manual tasks such as payroll, so that they can focus on the services that really add value to their business – such as cashflow forecasting, growth and funding advice.

The latest Top 50 + 50 Report shows the accountancy landscape remains competitive despite economic challenges. Some of the reports’ findings include:

• PwC are back on top, having regained ground after losing out to Deloitte in 2021
• Total fee income up 6.61% on last year to £19.86bn
• Firms invested £356,735, on average, in new technology in 2022
• Consultancy fee income grew by a momentous 169 per cent to £3,532bn

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