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:

◼  Xeinadin eyes an £800m+ PE sale as it continues aggressive M&A expansion.

◼ 10% of UK audits need major improvement, ICAEW finds.

◼ HaysMac earns top workplace award, recognised for its inclusive, people-first culture.

NEWS

Xeinadin prepares for potential £800m sale to private equity

Xeinadin Group is reportedly preparing for a private equity sale that could exceed £800m, according to The Times. The UK-based professional services network, backed by Exponent, has appointed Evercore to oversee the auction process.

With a footprint of over 130 offices and £60m in EBITDA, Xeinadin’s valuation could reach £840m. The firm’s aggressive M&A strategy—most recently acquiring Raffingers, JCS Accountants, and others—has fueled rapid growth. If completed, the sale would continue a wave of private equity interest in scalable, tech-driven accountancy firms serving SMEs.

INSIGHTS

One in ten audits flagged for 'major improvements'

One in ten audits reviewed by the ICAEW in 2024 required significant improvement, according to its latest monitoring report. While 67% of the 790 audits reviewed were rated good or generally acceptable, the 10% needing major improvements highlights persistent challenges, especially around audit complexity and staffing shortages.

Larger firms performed better, with Big Four audits faring well. The ICAEW is responding with new training tools, including a film and webinars. The report excludes PIE audits, which remain under the FRC’s oversight.

NEWS

HaysMac named one of The Sunday Times ‘Best Places to Work 2025’

HaysMac has once again been named one of The Sunday Times’ Best Places to Work for 2025, earning a spot in the Big Organisation category and winning the ‘Industry Award’ for Business and Management Services. The firm also received high commendation for its workplace support for women.

With standout employee scores for satisfaction, empowerment, and wellbeing, the recognition highlights HaysMac’s commitment to inclusive leadership, flexible working, and internal career progression. Over 60% of sector heads are now women, reflecting the firm’s strong push for gender equity.