• Register
Return to: Home > News > Number of audit firms in the UK and ROI decreases

Number of audit firms in the UK and ROI decreases

The number of audit firms registered to carry out statutory audit work in the UK and Republic of Ireland (ROI) fell by 4.7% in 2017/18, down from 5,660 to 5,394 audit firms, according to research by the UK’s Financial Reporting Council (FRC).

This was is in part due to a decline in both the number of sole practitioner audit firms (down from 2,733 to 2,558) and firms with 2 - 6 principals (down from 2,618 to 2,534).

The research was reported in the FRC’s latest edition of Key Facts and Trends in the Accountancy Profession.

It also highlighted that since the last report, the Big Four have increased their share of the UK audit market with 100% of the FTSE 100 companies now being audited by a Big Four firm.

The research found that the Big Four increased their combined total fee income by 4.7% to £10.95bn and audit fee income by 1.7% to £2.1bn. By contrast, total fee income at non-big four public interest entity audit firms fell by 8.1% and audit fee income fell by 6.3% (compared to a 3% increase in 2016/17).

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more


    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.