Accountancy salaries at a 'record high'

News Article - 12 February 2008
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The salaries of accountants are reaching record levels due to concern over a shortage of talent, it has been claimed.

According to Robert Half's Global Financial Salary Guide, the average pay for an assistant accountant is £19,500, a 25 per cent increase between 2006 and 2007.

Chief accountants who have been in the industry for around six years are earning around £80,000, it revealed.

Phil Sheridan, UK managing director of the firm, commented: "New regulations in the industry have resulted in a need for more professionals and have in many ways created a level playing field where both entry-level and seasoned professionals have the same opportunities to thrive and benefit financially."

The news follows a report by the US National Association of Colleges and Employers which claimed that more employers are seeking graduates with an accountancy degree than any other qualification.

Cited by Accountancy Age, the study also found that the majority of accountancy firms are intending to either increase or maintain their current recruitment intake this year.

Article keywords: The <a href="http://www.access-accounts.com/" target="_self">Accounting</a> Standards Board (ASB) has issued a consultation paper in relation to the international financial reporting standards (IFRS) for smaller businesses.<br/><br/>In reference to the International Financial Reporting Standard for Small and Medium-sized Entities (SMEs) exposure draft, the ASB is hoping to receive comments which will aid the board's response on the document to the International <a href="http://www.access-accounts.com/" target="_self">Accounting</a> Standards Board (IASB), which developed the standard.<br/><br/>Additionally, the ASB wants feedback from practitioners which might help show how the document will fit in with plans for convergence of UK standards and IFRS.<br/><br/>The paper offers analysis of UK generally accepted <a href="http://www.access-accounts.com/" target="_self">accounting</a> principles and IFRS for SMEs as well as outlining the differences between the ASB's current standard and the proposed IFRS relating to SMEs.<br/><br/>Ian Mackintosh, ASB chairman, said: &quot;The IASB is to be congratulated in issuing the exposure draft of the IFRS for SMEs, which potentially could have a significant impact on the financial reporting by most companies across the globe.&quot;<br/><br/>He invited constituents to comment both on the draft and directly to the IASB.<br/><br/>Earlier this month, the ASB decided it would not make any amendments to the standard entitled Share-based Payments as changes would cause the standard to differ from its international version.<br/>

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