UK Accounting Fees Rise as Industry Shrinks More, Watchdog Says

The UK’s accounting regulator said Monday that audit fees continued to grow strongly in 2023 and that tally is being split among fewer firms as the accounting industry consolidates.

The Financial Reporting Council published its annual Key Facts and Trends report, using data from 33 of the 41 companies with public interest entities, or firms of national importance, as clients. Accounting firms’ revenue increased healthily and more firms were active in the FTSE 350 market. However, the total number of student accountants continued to fall.

• There was a sharp increase in audit fees over the year. Audit ...