'Skilled accountants needed' with IFRS adoption

News Article - 07 February 2008
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The adoption of International Financial Reporting Standards (IFRS) by the public sector will increase its demand for financiers, it has been claimed.

According to a study by finance recruiter Nigel Lynn, in order for public organisations to carry on with business after the shift, accountants and auditors who have the relevant IFRS skills will be necessary.

The firm stated that the public sector is offering competitive salaries, noting that the pay of a management accountant is on par with private sector counterparts.

Steve Carter, managing director of the firm, remarked: "The public sector has succeeded in securing this talent by offering transferable skills and an attractive work life balance."

In relation to IFRS, Mr Carter claimed "demand for this expertise will soar".

The Financial Times has forecast that following the accounting regulation shift later this year, local councils could see their fees to the audit commission raised by a third.

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