WEEKLY EDITION BY MARINA MOUKA

Welcome to your latest Accountancy Age’s Weekend Digest, your go-to source for the week’s top insights and updates tailored for accountants.

In this issue, you'll find:
◼ EY faces £2bn negligence claim over “extremely serious” audit failures in NMC Health collapse.

◼ 61% of Gen Z UK accountants want to be their own boss, says ACCA’s 2025 talent report.

◼ AI won’t replace accountants - but it’s already reshaping MTD compliance and unlocking firm-wide efficiency.

We’re here to ensure you stay informed, inspired, and ready to tackle the week ahead.

NEWS

EY faces £2bn lawsuit over “extremely serious” audit failings at NMC Health

EY is facing a £2bn lawsuit over alleged audit failings at NMC Health, the former FTSE 100 hospital group that collapsed in 2020 under the weight of undisclosed debts. The claim, led by Alvarez & Marsal, accuses EY of missing key fraud indicators and failing to scrutinise financial records or maintain auditor independence.

The UK’s accounting regulator, the FRC, has criticised EY’s lack of professional scepticism in a provisional 563-page report. EY denies wrongdoing, arguing it was a victim of fraud, not its enabler. The trial is ongoing and is expected to fuel wider scrutiny of Big Four audit standards.

NEWS

61% of UK Gen Z accountants aim to be entrepreneurs, says ACCA

MA new ACCA survey reveals that 61% of Gen Z accountants in the UK want to become entrepreneurs — nearly double the UK average across all age groups. The 2025 Global Talent Trends report, based on responses from 1,300 UK professionals, also highlights confidence in AI upskilling (71%), though only 23% say their firms offer AI training.

Mental health remains a challenge, with 50% citing negative impacts from work-related stress. However, UK accountants report higher pay satisfaction and better hybrid working conditions than global peers. Sustainability and purpose-driven work also emerged as key motivators for younger finance professionals.

INSIGHTS

The AI-MTD advantage: Why accountants must act now

As Making Tax Digital (MTD) deadlines approach, AI is emerging as a vital tool to help firms manage increasing reporting pressures without expanding headcount. From chasing records to surfacing advisory opportunities, AI is reshaping workflows—turning compliance tasks into strategic value.

Sage’s Copilot exemplifies this shift by embedding AI directly into everyday accounting processes. The article outlines practical steps for firms to integrate AI into MTD compliance, from client segmentation to performance tracking. The takeaway is clear: AI isn’t replacing accountants—it’s making compliance manageable, scalable, and more profitable. Those who adapt early will be better equipped for the next wave of regulatory reform.