What future for smaller firms?

Article Abstract:

The high cost of training chartered accountants has led many small accounting firms to dispense with the hiring of chartered accountant trainees. Instead, many smaller firms are opting to hire certified trainees, partly because they are cheaper and partly because they need not take disruptive study leaves as chartered accountant trainees often do. This worrisome trend has not gone unnoticed at the Institute of Chartered Accountants in England and Wales, where two working parties have been asked to study the matter. One of these bodies, the Education and Training Directorate, is expected to submit a report in Dec 1992 on ways to make the system of chartered accountant training less onerous to small firms. The other body, the General Practitioner Board, has been asked to examine the long-term impact on the auditing profession of declining training levels at the small firm level.

Laws, regulations and rules, Institute of Chartered Accountants in England and Wales, Training, Accountants

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The view form Southwark Towers

Article Abstract:

David Morris succeeded Ian Brindle as head of the Audit and Services division of Price Waterhouse UK (PW) at a critical time when the auditing business was plagued by the recession, stiff competition and negative public perception. Morris, who assumed leadership of the division in Jul 1, 1991, considered the greatest challenge of his office to be the preservation of PW's reputation as a provider of quality auditing service. Morris is aware of the many problems of the accountancy profession. He agrees that auditors need to improve their performance to regain the public's confidence. In view of the declining audit fees and a stagnant pool of clients, PW is rethinking its audit practice operation. Morris believes that PW's greater focus on business services will put the firm in a competitive position when the British economy recovers from the current recession.

Management, Officials and employees, Practice, Morris, David, Price Waterhouse Associates Proprietary Ltd.

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