In Practice
Key Facts and Trends in the Accountancy Profession
By The Financial Reporting Council
Jun 24, 2014 - 10:01:37 AM

The FRC has issued its annual ‘Key Facts and Trends in the Accountancy Profession’ report which provides key data on the accountancy profession, its member bodies and practising firms. 　
　
The information illustrates the size and shape of the accountancy profession and shows how it has evolved over recent years. It brings together information about the major audit firms and seven accountancy bodies including both those who offer audit qualifications and those who register and supervise audit firms.
　
Paul George, Executive Director Conduct said:

"The accountancy profession is an important component of the UK economy and accountancy expertise is relied upon by all sectors of society and all types of business.　 It is, therefore, important to monitor the health of the profession.　
　
It is clear from the report that the profession remains attractive with the number of students and new members indicating there is a good flow of bright, young accountants coming into the profession who will be able to support our economy in the years to come."　

Key messages:

• Total membership of the accountancy bodies continues to grow steadily with compound growth rates for 2009-13 of 2.7% in the UK to 327,000 and 3.5% worldwide to 465,000.
• Student numbers increased in 2013 by 1.6% in the UK to 167,000 and 4.5% worldwide to 529,000. 　The compound annual growth rate of worldwide students was 3.4% from 2009-2013.
• UK student numbers have remained broadly static over the same period.
• Total fee income for all the firms surveyed increased in 2012-13. The increase for the Big Four firms was 3.9% compared with 2.6% for the larger firms outside the Big Four.
• Audit fee income for Big Four firms increased by 2.8% in 2012-13 as compared to a decrease of 1.7% for the larger registered firms outside the Big Four.

Download Key Facts and Trends in the Accountancy Profession

https://www.frc.org.uk/News-and-Events/FRC-Press/Press/2014/June/FRC-issues-Key-Facts-and-Trends-in-the-Accountancy.aspx

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