The phrase 'holding our nerve' has been used by accountancy firms on many occasions during these tough economic times, more often than not in relation to investment in their staff.

But with recent redundancy rounds at firms such as KPMG and Mazars, one would be forgiven for thinking that student recruitment programmes would be cut back as well, despite the firms' protestations.

However, Accountancy's latest survey of the top 60 firms in the UK reveals that in fact the number of trainees studying for an accountancy qualification has increased over the last year.