Audits propel accountants to double-digit growth

Growing demand for its auditing services has helped Champion Accountants to a double-digit increase in annual revenues.

The firm, which operates offices in Blackpool, Preston, Chester and Manchester, says it has seen a 31 per cent uptick in demand for its auditing services from existing a new clients in response to rising costs.

As specialist auditors, with many of the Champion team having trained at Big Four firms, Champion Accountants act for numerous stand-alone companies and groups, many with overseas subsidiaries or parent companies.

Its audit clients range in annual turnover from £250,000 to in excess of £70m and include a number of smaller businesses which are exempt but opt to be audited for additional reassurance and peace of mind.

Mark Turner, audit partner at Champion Accountants, said: “This is a real, pressing issue for countless businesses nationwide. Some have told us they have been quoted a price hike of more than 50 per cent for this year’s audit – that’s a lot for any business to absorb, especially on a project that they are legally obligated to carry out.

"The big audit firms are also being hit hard by skills gaps – there simply aren’t enough qualified auditors to complete the jobs on their books, and so priority is given to the highest fee payers. Some businesses will pay, under the false impression that changing audit partners will be an upheaval. At Champion, we draw from a wide pool of talent across our office network, to ensure our audits are managed professionally, painlessly, to deadline, and on budget.”