Nearly two-thirds of accountants have received pay rises above or in line with inflation in the past 12 months, according to the Institute of Chartered Accountants of Scotland

But the research, which was compiled from around 1,100 responses, found that more than 23 per cent saw their remuneration frozen and one per cent reported a fall.

A further 12 per cent said they did not know if they had got a pay rise or the question was not relevant to them.

The highest average salary in the UK was found in London and the south east of England and came in at £140,718.

In Scotland the average across Lothian, Borders, Central and Tayside was £72,294 while in the west and south west of the country it was slightly lower at £68,746. Across Grampian, Highlands and Islands the average was £78,836.

Salaries in the European Union were at a similar level to London while North American accountants got close to £206,000.

The highest average salaries were found in Asia at £297,400, although ICAS pointed out the sample size there was modest and many of its members there are working at chief executive or finance director level.

However at the other end of the scale there were still 20 per cent of ICAS members reporting a pay freeze across their organisation, although that was down from the 26 per cent recorded in 2014 and the 34 per cent in 2013.

ICAS suggested the trend may indicate a loosening of austerity measures across the profession.

According to 24 per cent of respondents in the latest survey reduced bonuses were still in effect, but that was down from 33 per cent in the prior year.

In terms of the coming 12 months there were 26 per cent predicting their pay is unlikely to increase, 39 per cent believing it will track inflation and 28 per cent expecting an above inflation rise.

ICAS chief executive Anton Colella said: "The survey points to an improving economic picture and prospects for our membership.

"Our study continues to indicate the value of our members to the business world and our inclusion of ICAS global members in this year's survey presents interesting insights into their pay and conditions of work."

The report, carried out in association with Wilkinson & Associates, also suggested close to half of accountants regularly work more than 45 hours each week with three per cent typically spending 65 or more hours in the workplace.

Of those who responded 21 per cent indicated they expect to change job in the next year and almost 60 per cent plan a switch within three years.

Craig Vickery, head of the Association of Chartered Certified Accountants in Scotland, said members of his organisation were in demand and would expect to be rewarded for the skills and experience they bring to a business.

However Mr Vickery said there is a realisation pay has to be in line with economic recovery.

He added: "As finance professionals they know first-hand the difficulties businesses have encountered since the global financial crash of 2008 and the tough decisions they have had to take to help their organisations survive this period."