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The Association of Chartered Certified Accountants (ACCA) has called for the government to work closer with the accountancy sector to grow the economy.
The global accounting body has stated that the work of the accountancy profession “underpins the success of all the eight growth-driven sectors identified by the new Labour administration”.
It believes that the government refreshing its understanding of the accountancy sector would help directly to deliver the government’s desired target of net zero, regional growth, and economic security and resilience.
According to ACCA the accountancy sector contributed £98bn to the UK and Irish economies in 2022, exported £4bn of services in the same year and has a trade surplus of £4.9bn.
Glenn Collins, head of policy, technical and strategic engagement ACCA, said: “The UK government’s ambitious strategy for growth needs to be supported by detailed plans to ensure that the aspiration has a chance to be realised. ACCA has a track record of working with government to support detailed policy implementation which will enhance growth. We look forward to working in partnership with government to make it happen.”
Jessica Bingham, regional policy lead for ACCA, added: “ACCA UK is pleased to see that professional and business services – of which accountancy is a significant part – is one of the eight growth-driving sectors identified by the government’s industrial strategy.
“ACCA has members working in and helping businesses every day across every region of the UK, grappling with the problems that this industrial strategy identifies – skills and jobs, investment and technology adoption. Our members are keen to share their knowledge and insights to make growth a reality.”
