subject: Dragon's Seal Of Approval For Smaller Accountancy Firms [print this page] Yorkshire accountancy firm Watson Buckle has welcomed reports that more and more companies in the UK are considering using small and medium-sized accounting firms for their audit work.
Experts have predicted a long-term shift in the audit market, with the big four' firms reporting slower growth than the rest of the market, as companies consider switching to their smaller, and often less expensive, rivals.
Entrepreneur and star of the Dragon's Den TV show Peter Jones recently told Accountancy Age magazine that he engages a mid-tier firm as his auditors, and feels they are better than the big guys.
"I have a slightly different view of what the accountancy profession is there to do. For me it isn't necessarily a consultative business. What I want to do is phone my firm of accountants and say, I need some specialist advice in this area'," he said.
Many medium size accountancy firms have all the expertise of the larger accountants, but they tend to command smaller fees. They generally have a lower level of staff turnover, ensuring clients' continuity in service, and place a clear emphasis on a client-focused approach, since client retention is important.
Watson Buckle managing partner Susan Sedgwick said they prided themselves on providing an approach that was tailored to clients' specific needs and met their specific requirements.
She added: "We really make an effort to get to know our clients and their businesses, and they all have a named contact here at Watson Buckle who they can contact if they have any problems or questions.
"There has certainly been an increase in the number of companies putting their audit work out to tender, allowing firms like us to compete on service and price, where previously the company concerned may have used the same firm for years and we wouldn't have had the opportunity to access that business."
by: David Aust
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