According to finance experts LDF, the number of accountancy practices has fallen by nearly 1,000 between 2009 and 2013. In 2009, there were 7,843 accountancy firms based with the UK, however that number has now dropped to 6,962. There are many theories behind the decline in numbers, the most common belief is that the decline is related to relaxation of auditing rules, reducing the exemption threshold for many businesses, meaning there is less work for accountants. Managing Director of LDF, Peter Alderson said many firms now have to re-structure their business models so that they are not as heavily dependent on the profitability auditing brings.