With the automation of compliance work a major concern for traditional accounting firms, it seems to have had little effect on this year’s GBU Insights data for charge out rates across the country.
The average percentage increase on charge rates or client fees for FY2014-15 (from last year) was 4.5%.
Increasing charge rates or client fees every year is clearly the done thing, with 70.3% of firms increasing rates every year.
According to the poll, the majority of firms will continue to increase fees by the same amount (4.7%) in 2016. This was confirmed with 29% of firms reviewing WIP but simply adding a percentage to last year’s fee.