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In 1986 6,200 students entered into training contracts under the aegis of the Institute of Chartered Accountants in England & Wales, of whom nine out of ten were graduates, making the profession by far the largest single recruiter of graduates in the UK; and this voracious appetite may well increase. Most firms expend considerable resources on recruitment to get it right; yet Institute statistics demonstrate that up to 40 per cent of graduate recruits ultimately fail to qualify. Perhaps at best one fifth of the original entrants will still be with their original firm three years after qualification. A large proportion must be viewed as recruitment failures.

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