Wednesday, 24 September 2014

Sector is being targeted by auditors

A piece in Wiltshire Business says that with 150 academy clients Bishop Fleming is the second largest accountancy firm in the sector.


It said: 'With offices throughout the South West and the West Midlands, Bishop Fleming's latest Academy clients are the St Piran's Cross Multi-Academy Trust in Cornwall and Regency High School in Worcester.'

A piece in Accountancy Age says the sector is being seen as an attractive target: 'Other firms are targeting niche segments as a way to drive fee income. For instance, east Midlands firm Duncan & Toplis - ranked 36th in the overall list - was able to grow audit fee income by 45% to £8.2m over the past year by moving into the audit of academies in a big way. Previously, the firm only audited a handful of academies - formerly local authority controlled schools - but has since taken on around 25 contracts in the sector and now audits primary and secondary schools, a sponsored academy and a federation.'

I'm not sure which firm is the largest in the sector but the other ones I see fairly regularly are Buzzacott, Crowe Clark Whitehill and Grant Thornton (UHY Hacker Young benchmarking report said it related to 75 academies).

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