Ex-KPMG led accounting giant stalls £1bn sale Accountancy One of the UK’s largest accounting firms founded by a former KPMG head has put a £1bn auction on hold despite receiving a wealth of interest from investors. Sumer, a ‘consolidator’ firm that buys majority stakes in smaller independent accounting companies, had hired advisors at boutique advisory Continuum last September to oversee a review on [...]
Accountants ‘still in high demand’ despite AI impacting sector Accountancy Accountants in the UK are still in high demand despite the impact of AI on the sector, according to new research from the Institute of Chartered Accountants (ICAEW). The body, which regulates and supervises around 12,000 accountancy and audit firms in the country, said that accountants “are still in high demand” even as AI reshapes [...]
AI will not replace auditors’ judgment, says regulator chief Accountancy The rise of AI presents a critical moment for the accountancy profession to prove that its “value-add” goes beyond tasks that can be automated, according to the industry’s watchdog boss. Speaking to CityAM, Richard Moriarty, chief executive of the Financial Reporting Council (FRC), said that with every technological shift, the accountancy sector loses low-level [...]
FRC chief urges audit reform before next corporate scandal January 13, 2026 The boss of the accountancy regulator has issued a direct warning to the government, urging them to pass audit reform legislation during “peacetime” rather than waiting for a major corporate collapse or scandal. Speaking on the latest episode of the Following the Rules podcast, Financial Reporting Council (FRC) CEO Richard Moriarty, said: “Given the thinking that’s gone [...]
Accountancy body warns Finance Bill could criminalise honest mistakes December 19, 2025 A body has expressed serious concerns that measures in the upcoming Finance Bill could pose an “existential threat” to professional firms and cause significant harm to compliant taxpayers. The Institute of Chartered Accountants in England and Wales (ICAEW) pointed out several effects the Bill has on tax advisers, including introducing a criminal offence for promoting [...]
MHA set to deliver double-digit revenue growth as strategy pays off October 31, 2025 Listed professional services group MHA has revealed that its first half 2026 revenue is expected to jump around 13 per cent from the same period last year, as it remains on track to meet full-year market expectations. In a trading update on Friday morning, the firm said revenue for the six months ended 30 September [...]
RSM UK approves merger with US arm, backing partnership over private equity October 23, 2025 Accountancy firm RSM UK has greenlit a merger with its US sister, RSM US, to create a $5bn (£3.75bn) new partnership structure, in the first major transatlantic combination in the accountancy sector. It was reported last October that both firms were in talks, with a focus on the mid-market. On Thursday, after a “near-unanimous vote” [...]
Most businesses use ChatGPT before consulting their accountant October 1, 2025 Almost two-thirds (64 per cent) of businesses are now using public AI chatbots for advice before consulting their accountant, according to new research exclusively shared with CityAM. A survey of 500 senior decision-makers within UK accountancy firms, conducted by Ravical for its ‘Accounting in the Age of AI‘ report, found clients are no longer [...]
Small-tier accountancy firms facing worst talent crisis in years September 2, 2025 Small to mid-tier accountancy firms are facing “serious” barriers to growth due to staffing shortages, according to a damning new report into the sector. According to figures from outsourcing specialists Advancetrack, 94 per cent of firms say recruitment issues are now holding back growth, forcing them to outsource work overseas. These figures represent an increase [...]