Accountancy firms lag behind legal firms in gender equality at top level Business The UK accountancy sector is lagging in diversifying its leadership, with only half of firms having at least one woman at the board or partnership level. According to data exclusively shared with City AM by Lubbock Fine, UK accountancy firms are lagging behind legal firms in the proportion of women at the senior level. The [...]
Accountancy firms face margin squeeze as AI disrupts compliance services Prof Services Most UK accountancy firms admit margins on traditional compliance services are under pressure from automation, as professional services firms rethink strategies in the age of AI. According to a report shared exclusively with City AM by Ravical, while most British firms believe margins have increased over the last three years, the majority (63 per cent) [...]
Financial Reporting Council chair Sir Jan du Plessis to retire Accountancy The chair of the audit watchdog, Sir Jan du Plessis, has announced his intention to step down from the role at the end of September, when he will retire from corporate and public life. Over his career, the businessman has served as non-executive chairman of BT Group, non-executive chairman of Rio Tinto Group, and as [...]
Professional services firms facing ‘polycrisis of confidence’ January 28, 2026 A major study of C-suite attitudes among professional services firms has revealed a complicated landscape of increasing AI use, growth fears, worries about cash flow and concerns over staff motivation. According to the Managing Partners Forum Winter 2025 Quarterly, shared exclusively with City AM, all firms surveyed have integrated Gen AI into their daily operations, but [...]
Bill Thomas’ successor: KPMG top job up for grabs amidst sector transformation January 27, 2026 The Big Four giant KPMG’s election for the next global chair and CEO is currently underway, as big names across the firm vie to succeed Bill Thomas. Thomas has held the leadership position since October 2017, but his term is expected to conclude on 30 September. KPMG International is now launching a process to elect [...]
Accountancy body reverts to in-person exams over AI cheating fears December 29, 2025 The UK’s accounting body, which has almost 260,000 members, is planning to halt remote exams amid a surge of students cheating with AI. The Association of Chartered Certified Accountants (ACCA) has said that from March it will no longer allow students to take online exams, except in exceptional circumstances. Remote testing, like in many universities [...]
Watchdog launches new probe into EY over ‘unauthorised’ audit reports December 10, 2025 The accountancy watchdog has commenced a new investigation into the Big Four firm EY and two of its members. In an announcement on Wednesday morning, the Financial Reporting Council (FRC) revealed that it has commenced an investigation into “unauthorised issuance of auditor’s reports to audited entities”. This comes after the Big Four firm informed the [...]
UK profit dips at BDO as partner numbers hit record December 2, 2025 Mid-market accountancy giant BDO has seen its profit slip, with the firm blaming challenging market conditions and a significant increase in partner headcount for the decline. BDO UK delivered stable revenues of just £1bn over 2025, a slight dip after becoming a £1bn-turnover firm last year. Profit per equity partner (PEP) fell over 13 per [...]
PE-backed Grant Thornton defies market trends with recruitment drive November 18, 2025 Private equity-backed accountancy giant Grant Thornton is bucking the trend in the professional service market with its plans to recruit 160 new partners over the next two years. Back in December, the firm’s partners unanimously voted in favour of an investment from private equity firm Cinven in a deal expected to value the firm at up to [...]
PE, mergers, and AI: Professional services faces its most pivotal moment for 20 years November 18, 2025 The professional services industry is arguably going through its most critical time in the last 20 years. As it sits on its train to the future, where it jumps off will seal its fate, as each move firms take will be critical to what the industry may look like in the next 10 years. While [...]