Business

Accountancy industry turnover tops £4.13bn in March

This marks the largest monthly figures on record for the sector, as it was 13% higher than the previous record turnover that was reported in January 2022

The UK accounting industry saw its turnover rise to £4.13bn in March, marking a rise of 14% against February 2022, according to new figures from the Office of National Statistics (ONS).

This marks the largest monthly figures on record for the sector, as it was 13% higher than the previous record turnover that was reported in January 2022.  

Overall, revenues for the UK Services Sector (including accounting) reported a turnover of £243.4bn, soaring 20% against February 2022.

Commenting on the figures, Julie Matheson, regulatory partner, Accounting Services at Kingsley Napley LLP said: “The UK’s accounting industry continues to build strength in 2022. These results should be an indicator of the sector’s robustness in the post-lockdown economy. 

“Firm leaders, however, need to be nimble and continue to focus on staff well-being to attract the best people in a highly competitive market. They should also be concentrating on upcoming regulatory headwinds including audit reform and wider issues in corporate governance, and on expending resources on preparing for the inevitable change that is coming.”

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