Accountancy recruitment experts predict a continued revival in the sector this year, and insist that a lack of qualified accountants is unlikely to hold them back.

While recruiters are finding that fewer candidates have Associate Chartered Account qualifications, or are trained in compliance skills in line with the Sarbanes-Oxley Act, they claim a candidate-driven market isn’t affecting business.

“Despite the lack of skilled candidates, the market hasn’t stagnated at all,” said Linda Harlow, managing director of specialist accountancy recruitment company Nicholas Andrews & Temps Financial. “We are confident that salaries will push up and that fees will also rise as a result.”

Professional services specialist Michael Page recently reported a bumper year of revenue growth, with profits up 18%. Improvements across all regions saw the firm’s fourth-quarter gross profit increase by 23.9% to £56.6m, compared with £45.7m in 2003.

Olivia Yost, associate director at financial recruitment firm Parker Bridge, believes that “a bun-fight for candidates” has already begun. “January is always a busy month,” she said.

“We are extremely busy at the moment, and there should be continued growth but not the frenzy that we saw in the late 1990s.”