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UK accountants 'confident for future'

15/01/14

British accountants are becoming increasingly positive about the future for the economy and their profession, with the UK's years of malaise now left behind it, according to a new report from software provider Iris.

 
The company found that 59 per cent of respondents working in the financial services industry have positive expectations for their clients over the coming 12 months, a major increase from the 36 per cent recorded with this sentiment in 2012.
 
Furthermore, 72 per cent expressed the feeling that their own firm would continue to improve its fiscal position over the course of 2014.
 
Chief executive officer Phil Robinson said these encouraging results highlight how much the industry has recovered from a difficult few years.
 
"Accountants are becoming increasingly convinced that the recovery is happening – and it is particularly pleasing that they view the outlook for their clients so positively. We would expect this trend to continue next year as the economic situation continues to improve," he added.
 
Reflecting the mood of positivity, over half of the respondents to Iris suggested that enlarging their client base was a priority for 2014, with the increased capacity of technology one factor in allowing them to do so.
 
Encouragingly, a growing number of accountants are becoming more proactive in their efforts to stave off the recession. Some 65 per cent of professionals said making their practice more efficient was a priority, up from just 18 per cent in the 2012 survey.
 
However, this attitude has not prevented businesses from hoping that the government provides a degree of support when it comes to building on their positive outlook and producing a degree of expansion in the next 12 months.
 
Mr Robinson indicated there is a clear feeling from many firms that more needs to be done to cut the ties holding back small businesses and preventing them from competing with larger corporations.

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