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From the rise in M&A activity, to the increase in NI come April 2025, here are four key reasons why demand for temporary auditors will increase in 2025:
- Boutique firms are taking on complex audits* (and may lack the expertise/resource to handle such engagements). Therefore, flexibly hiring a temp to lead this first-year audit could be the smartest resourcing strategy – you can select from those that have audited a client in this specific sector, have used your software, and who can work closely to the way your firm works
- Due to rising NI costs in April 2025 it will become increasingly more expensive to maintain and hire permanent staff. In contrast to this, and due to a spike in contractors entering the market, rates for temps have stagnated (or have even declined)
- Mixed/poor experiences for firms outsourcing audits to South Africa/India – I met with a firm recently and the Partner highlighted they’ve had poor experiences with outsourcing to South Africa. From the Partner having to consistently re-do their work, to them not being present in the firm’s offices (and being in a different time zone), it is a risky (“you never know who you’re going to get”) and potentially a very costly strategy (a Partner having to re-do the work!) – especially when there is increased scrutiny on audit quality in the UK. In comparison to this however, a UK-qualified Audit Senior Contractor who could be based in your offices and has the expertise you desire, is the stronger & smarter solution.
- The rise of M&A activity within our sector is likely to increase the demand for temporary workers. From workplace cultures potentially changing due to private equity buyouts leading to auditors handing in their notices, to increased workloads as the firm’s scope and client base increases, there will be increasing demand for flexible audit supply – at least until the dust settles and the firm understands their new perm requirements.
These are just four reasons why demand for audit contractors will likely increase in 2025. There will be more influences that will appear too (and I look forward to experiencing them with you).
As always, please get in touch if you’d like to see any profiles – I work with those typically from Audit Director through to Audit Semi-Senior levels (with the bulk of the demand being at that Audit Senior level).
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Published by Danny Gray. Connect with me on Linkedin here: https://www.linkedin.com/in/danny-gray-gpn/
Danny@GPNRecruitment.com / 02038350888