Busy time for accountants, says CIOT

Date: 12th December 2008

Accountants are increasingly spending more time with their clients, according to new research.

An investigation by the Chartered Institute of Taxation (CIOT) has found that nearly half of its member accountancy firms were spending more time with their clients in a bid to provide as much help as possible during the economic crisis.

President of the CIOT, Nick Goulding, commented: "It is clear from the results that the economic downturn is beginning to have an effect, but many of our members told us that it was too early to say exactly what would happen."

Mr Goulding added that while some business start-ups were suffering, others were proactively seeking out accountants to ensure they received the appropriate advice for surviving the recession.

A lecturer from the Cranfield School of Management earlier this week claimed that there was a breed of small firms known as 'gazelles', which thrive in challenging economic climates.