Accountancy Firms Forced To Recruit Early

Fri, 20 Apr 2007

Major accountancy firms are being forced to hire their newly qualified accountants earlier than before due to a shortage of such accountants, according to financial recruiter ECHM.

The recruiter claims the Big Four firms have already kicked off their recruitment processes this year, with hopes of impressing the September newly qualified intake.

Traditionally these frims do not set out to hire until July or August, but the ECHM says the firms want to make sure they steal their candidates ahead of rival companies and well before the end of their training contracts' .

Accountants being targeted are those who passed their final exams in December 2006 and who will remain on contract with their current firm until September this year, when they complete the practical side of their studies.

Meanwhile recruitment and training programmes have been introduced by two of the Big Four companies that are specifically targeted at newly qualified accountants who are currently with small to medium sized firms.

To help adjust to the more risk based approach to auditing undertaken by the larger firms these individuals will be given additional and relevant training .

Kirsten MacLeod, operation director for ECHM said, "Two years ago, the norm would have been for the top accountancy firms to start recruiting newly qualified accountants who were completing contracts in September of that year, in the summer months. It is now happening five or six months earlier."

This year has so far seen the availability of accountants in London drop by 5.4 per cent, compared with the same quarter last year, while new job numbers rose 13 per cent, according to the ECHM's Quarterly Regional Recruitment Index.

On the contrary accountancy vacancies in Manchester have increased by 9.1 per cent, compared with last year, but candidate numbers have fallen 13.9 per cent in and around the city.
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