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May 2011

Developments in the global accountancy sector

This report highlights the significant factors influencing both the growth of the accountancy sector and also the demand for the skills of the management accountant within the professional practice firms.

These factors include developments in corporate reporting such as integrated reporting and the re-emergence of consulting and advisory services which are expected to contribute to growth in this sector and threats of increased competition from emerging markets and concerns over the level of market concentration.  The report contains several key messages and conclusions both for members and employers, including:

  • Accounting firms operating in this sector would benefit considerably from employing management accounting professionals both from the point of view of their own operating efficiency and also increasingly as part of revenue-generating consulting teams.
  • CIMA members should not assume that firms in this sector do not employ management accountants there is a significant and growing need for their skills.

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Developments in the global accountancy sector

The drive towards more integrated reporting will present challenges and opportunities for the management accountant. Effective integrated reporting required a comprehensive understanding of the business model and an efficient management accounting information systems.