At a time when many organisations are finding it challenging to get an auditor as more and more audit firms are closed and not taking on new clients due to capacity constraints and conflicts over providing multiple services, the external audit team at Wbg, one of Scotland’s leading independent specialist full-service accountancy firms, is committing significant investment in people and technology to enhance its resource to take on new clients and service market demand.
The team has recently recruited record levels of trainees along with other key appointments, to its burgeoning team in response to significant growth – double the annual intake of graduates it has recruited over the last three years. From a team of 28 in 2022, it now numbers 40 and that is increasing.
In addition to investing in people, the team is investing in data analytic software and an intelligent automation platform to accelerate productivity with increased significant efficiency there by allowing a more enhanced client experience.
“The investment in this software is a key step in the client journey,” said Scott Gillon, Partner – Head of External Audit at Wbg.
“It will radically reduce the quantity of audit tasks that are currently not automated and give us enhanced capability enabling us to focus on value-add discussions and client engagement ahead of imminent regulatory changes.
“In contrast to many other auditors, this investment in people and technology gives us the capacity to further enhance our external audit offering and help potential clients who are struggling to either find or change auditor.”
With more than 100,000 organisations in the UK requiring a statutory audit coupled with regulatory pressures it is critical that the accountancy profession can help these organisations.
With strong audit capability across its seven market sectors from public sector through health and rural, Wbg has seen both multiple new clients and reappointments from across the UK.
As a recent example, Wbg’s external audit team recently won a third reappointment to City Property Glasgow. This work means that it oversees the audits for all seven group entities including City Property Glasgow (Investments) LLP, which has a diverse portfolio of c1,800 units including retail, industrial, office accommodation and residential sites.
This also includes the audit of the LLPs and limited companies incorporated to support the sale and leaseback arrangements with Glasgow City Council, to release funds towards equal pay claims.
