As we end 2020 reflecting on the changes that took place in the accountancy sector, thanks to the disruption brought by Covid-19, we also look ahead to 2021 and consider how the events of 2020 will affect the coming year. Most importantly, what do the leaders in the accountancy sector think will happen? We asked a group of managing directors, partners, and IT directors for their thoughts.

Accountancy 2021 Predictions – What Will We See?

Jonny Woodward, IT Director at PKF Francis Clark

“It depends how big the inevitable recession is. Financial Planning and Insolvency may well come to the fore.”

Andrew Yearsley, Chief Technology Officer, Bishop Fleming

“A striking balance of in-office and remote working.”

Rachel Skells, Partner at Whittles

“The move to virtual working for much more of us as a matter of choice rather than necessity and, therefore, an increased uptake in tech where there was a natural reluctance to the change before – there is still a place for the physical office and face to face meetings but, again, this will be by choice rather than necessity.”

Richard Kleiner, Managing Partner and CEO at Gerald Edelman

“The consolidation process that started two years ago will, I believe, increase in intensity as many people will seek a change of life pattern and will look to merge or even sell.”

Ian Carlson, Managing Director at Old Mill

“We will continue to benefit from all the transformation (tech, agile working etc) that were imposed on us by the pandemic, but which have had a hugely positive impact. I certainly hope we don’t try to go back to “the good olde days”!”

Lisa Leighton, Partner at BHP Chartered Accountants

“Continuing the transition to Advisory.”

Chris Madden, IT Director at Kreston Reeves

“A permanent shift to part home working, part in an office leading to fundamental changes in what offices are for and what people will need from the corporate space. The benefit could be far-reaching from better work/life balance, less commuting so a reduction in greenhouse gasses and more local shopping regenerating communities. The downside is cities will likely suffer.”

Rickard Warnelid, Partner at Mazars

“I think the winners in the post-Covid world will be organisations who are brave enough to take advantage of a truly mobile workforce, and who find the ways of helping their team get a sense of belonging and team spirit in an increasingly digital landscape.”

For more accountancy insights, visit our Accountancy Hub.