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Latest audit trends

12 July 2017

The number of registered UK audit firms continues to decline.

At the end of 2016 there were 6,010 registered audit firms in the UK and Ireland. The number of members holding audit qualifications also dropped (129,509 in 2016 compared to 140,135 in 2014).

However, the latest figures show that there was an increase in the number of approved training offices in the UK and Ireland, with an upward trend in the number of students choosing audit as a route to qualification.

The total fee income of the firms which audit Public Interest Entities (PIEs) has grown. There has been a decrease in the growth rate of audit fee income for the Big Four firms. Those outside this group, however experienced an increase in the growth rate.

Fee income from non-audit work to audit clients continued to see the greatest percentage increases for audit firms outside the Big Four (19.5%) in 2015/16, compared to 13.2% in 2014/15. The Big Four experienced a slower growth rate in this area of 2.6%.

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