Accountancy firms providing most Brexit expertise
A study by Source Global Research, a research provider for the management consultancy industry, has found that accountancy firms are leading the way when it comes to Brexit expertise, with more than 80% of Brexit specialists in the UK’s consultancy industry working for an accountancy business.
The report highlighted the need for more workers that specialise in Brexit matters to keep up with the expected volume of demand.
According to the report, the high number of Brexit experts working in accountancy firms in the management consultancy industry occurs because these businesses are hiring more workers as they look to boost expertise in important areas, such as international trade and regulatory compliance.
Source Global Research also identified which of the Big Four accountancy firms are the best positioned when it comes to work related to the UK’s exit from the EU, with EY and KPMG having the largest proportion of workers with Brexit expertise.
The company voiced its concerns over the shortage of workers, stating that even the Big Four firms will not be able to meet the demand, especially from the financial services sector.
Commenting on the importance of accountancy firms helping their workers gain a better understanding of Brexit and the benefits of doing so, Fiona Czerniawska, director of Source Global Research, said: “Despite doing relatively more than other types of firms, accounting firms could be working harder to develop dedicated Brexit specialists who understand not only this topic but how it interacts with other issues clients are facing. Doing so will increase the chances of firms getting a seat at the table when senior executive conversations about how to respond to the impact of Brexit are going on, which will place them front of mind for future initiatives.”