Whilst many business owners remain concerned about the ramifications Brexit will have on their company, accounting firms are taking solace in the knowledge that their businesses will keep ticking over after Britain leaves the European Union (EU); MPs have said that Brexit would be positive for accountants as they can advise clients on the tax and financial implications of our EU withdrawal.
John Williams, former head of the Association of Chartered Certified Accountants (ACCA) UK said how important it is that “politicians recognise the value the accountancy profession can bring to the UK economy as it enters one of its most profoundly important periods since the Second World War.” Accountants will play an important role in renegotiating trade deals and developing policies to help businesses during this time using their strategic insight and analytical rigour, Williams explained.
However, it seems the future may not only benefit accountants from a business perspective; finance professionals are confident about potential pay rises thanks to better-than-expected economic growth, recruitment firm Robert Walters stated. Three quarters of accountants expect a salary increase in 2018, whilst 55% expect to receive a bonus. This is despite 37% of employers not planning to increase salaries, reported Economia (the Institute of Chartered Accountants in England and Wales’ (ICAEW) members’ publication).
In February (2018) Economia reported that over half (52%) of finance professionals are not happy with their pay and plan to leave their roles in the next year. Although, 69% of the 17,500 survey respondents admitted that they had not requested a salary bump in the last 12 months. Perhaps this new positivity and the possibility of a pay rise will change these accountants’ minds about moving on.
Using Skills to Your Advantage
Williams added that employers are now adapting various elements of work to attract talented professionals, providing opportunities for career progress and the chance to play a strategic role. Statutory and management accounting are two specialist areas being sought after by hiring managers at the moment.
In this candidate-led market, if you’re looking for a job in accounting, to give yourself the best possible chance of selling yourself, we suggest making sure your CV is as detailed as possible when it comes to professional experience and skills.
If you’re an accounting beginner, why not check out AAT’s entry-level accounting qualification to get started? Contact Aspiring Accountants today for more information and advice on joining the sector.