LONDON, May 14, 2024
/PRNewswire/ -- IRIS Software Group, a leading global software
provider of accounting, edtech, payroll and HR solutions, today
released the results of its anonymous poll of UK-based accountants,
conducted during February and March
2024. Accountants responded to 13 multiple-choice questions
pertaining to pricing, AML compliance, and cybersecurity
confidence.
How much do accountants charge across the UK?
- Tax returns: 90% of respondents charge between £126 and
£400 for a tax return. The remainder charge £400 to £600 with 1%
charging over £600.
- Bookkeeping: 84% charge between £25 and £40 for
bookkeeping per hour. The remainder charge more than £40 per
hour.
- Set of accounts: 78% charge between £500 and £1000
for a set of accounts, with 22% charging more than
£1000.
- Advisory services: 38% of accountants offer
advisory services are part of their compliance work. 60% charge
separately and 2% do not offer advisory services.
Process and efficiency
63% of survey respondents indicated that they need to strengthen
their efficiency, yet 56% still use paper-based processes to handle
anti-money laundering (AML) compliance, 72% have not mapped out and
documented their processes in over 18 months, and 53% still monitor
and manage workflow tasks in spreadsheets.
Cybersecurity preparedness
- High cybersecurity confidence: The majority of
accountants feel confident that their firms are protected against
potential cybersecurity attacks, with accountants in the North West
feeling the most confident (77%) and accountants in the
Midlands feeling least confident
(46%).
- Multi-factor authentication: Accountants in
Scotland are more likely (62%) to
utilize multi-factor authentication (MFA) than those
in Northern Ireland (35%). For
accountants in the North West, the Midlands and the South East, MFA
usage was split down the middle, with 55%, 48%, and 45%,
respectively.
- Reliability: Only 6% of respondents in
Northern Ireland experienced 'slow
downs' in the speed of their internet connection during peak times
of usage, compared with 36% in Scotland.
Commenting on the research, Mark
Chambers, Managing Director for Accountancy at IRIS said:
"Digitisation and automation not only help accountants work smarter
and spend less time on manual tasks and compliance obligations, but
also free up capacity to take on higher-value advisory roles. This
said, in a landscape of cybersecurity threats, it's essential for
accountancy practices to adopt multi-factor authentication and
conduct rigorous evaluations of technology suppliers. The
Government's Cyber Essentials self-assessment and certification is
a strong benchmark and standard to adopt."
Notes to editors:
The anonymous IRIS poll received 139 responses. The full
dataset is available on request.
About IRIS Software Group
IRIS Software Group is a global provider of mission critical
software and one of the UK's largest privately held software
companies. IRIS provides software solutions and services for
finance, HR and payroll teams, educational organizations, and
accountancy firms that takes the pain out of processes and lets
professionals focus on the work they love. Through simplifying,
automating and providing insights on everyday mission critical
tasks for organizations of all shapes and sizes, IRIS ensures
customers can look forward with certainty and confidence.
IRIS is the largest third-party online filer with the UK
Government. Ninety-three of the top 100 UK accountancy firms use
IRIS software. One in six of the UK's workforce is paid by IRIS
payroll offerings, and globally, six million employees receive
their payslip via IRIS software every month. More than 850,000 UK
employees are managed by IRIS HR solutions. Over 12,000 UK schools
and academies use IRIS, with four million parents and guardians
using IRIS apps to connect with their children's school; 300
million messages are delivered between schools and parents each
year, and over £15 million transactional payments are processed
every month. IRIS is certified as a Great Place to Work® and
recognized as one of The Times Top 50 Employers for Gender Equality
in 2023. IRIS is also recognized as one of the Best Workplaces for
Wellbeing, one of the Best Workplaces in Tech and one of the Best
Workplaces for Women.
To see how IRIS helps organisations get things right first time,
every time, visit www.iris.co.uk or follow IRIS Software Group
on LinkedIn, Twitter and Instagram.
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