Sector trends

Accountancy Report 2022: key actions for accountants

Our latest report explores how SME accountancy firms in England, Scotland and Wales have performed during the pandemic, including insights on how they’re adapting and thriving.

31 May 2022 . 2 min read

The Accountancy Report 2022 illustrates how the sector is navigating numerous challenges, including the impact of the Covid-19 pandemic, and offers valuable insights for firms looking to take full advantage of new opportunities to innovate and fuel growth.

Accountancy Report 2022: five actions for growth and success

Since 2015 we have surveyed the financial performance of SME accountancy firms across England, Scotland and Wales. This year, for the first time, we have identified and highlighted five key actions we think all firms should be paying due consideration to. These are:

Attracting and retaining talent
The future of work and flexible working arrangements
Climate and sustainability
Making sure expenditure delivers value
Cybersecurity

Accountancy Report 2022: in numbers

Median fees per equity partner were £798,000 a year compared with £649,000 a year when firms were last surveyed in 2019.

Profits earned during the pandemic increased significantly. The median profit per equity partner was £193,000, up from £150,000 in 2019.

Median work in progress (WIP) days were 42, down from 44, and the median for debtor days were 65, down from 71 days in 2019.

The median total of lock-up days was 114, down from 118.

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Accountancy Report 2022 (PDF, 8.91 MB)

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This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

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