six benefits of an internal audit
plus the principal tasks.
outlook & analysis
outlook 2023: top five trends
strategic thinking is at a premium.
by gale crosley
the rosenberg map survey: national study of cpa firm statistics
i suspect the next 12 months will bring four sizable developments.
more outlook: compensation gets creative | the office is over | private equity comes for accounting firms
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this has been an unusual year of high uncertainty, unpredictability and sapped energy among our profession’s leaders. many are facing the most significant business issues and opportunities of their careers. the profession has experienced nearly a century of relative business model certainty and predictability in market conditions, punctuated by occasional disruptive blips.
however, it’s not just one dynamic, such as the dot-com bust, the events leading up to sarbanes-oxley or the great recession. rather we are seeing a confluence of four major thunderbolts – disruptive technologies, shifting economic conditions, non-traditional competition and fast-moving regulations. add to this extensive talent constraint, work-from-anywhere options, unexpected market demand and the relatively new enthusiasm of private equities to invest in our firms. and don’t forget continuing baby-boomer retirements. wow! i’m exhausted just writing about it.
what accounting firm start-ups are doing right
and why other firms should worry
by 卡塔尔世界杯常规比赛时间 research
if your firm is 10 tears old, its probably getting stale facing intense competition for talent and grade-a clients from newer firms, less than 10 years, according to new research
more: keep these tax clients while you have the chance | some clients just aren’t worth the ‘mishegoss’ | when should you drop a client? | what’s the most ridiculous thing you’ve heard in tax season? | back to basics with client service | 4 steps to firing a client | top 10 ways to fire the client from hell | survey: zoom, teams top meeting choices | the hazards of poor internal controls | plan for your client to exit their business | what new leaders want in ownership | find your cas team at your firm | six ways to fix your firm agreement
it was the youngest firms – those in business for just one to two years – that scored highest. in hindsight, the reason is obvious: they began their firms during the pandemic. they didn’t have to change or adapt to the rigors of remote offices and limited client contact. they built their firms to fit the pandemic context.
outlook 2023: compensation gets creative
accounting will be an attractive career choice again.
by carl george
the rosenberg map survey: national study of cpa firm statistics
there has and will continue to be a significant number of private equity transactions. as with any major shift of ownership in the past, there will be some fallout – partners, staff, niches, clients, etc.
more: outlook 2023: the office is over | 2023 outlook: private equity comes for accounting firms
that is natural as what we will witness is the creation of new firms and opportunities for those who choose to depart. just look at the new firms that have started in the last five years – that is one way the profession stays young, fresh and entrepreneurial – new players practicing in different ways.
read more →
seth fineberg: your classic business model won’t allow growth
the disruptors: billable hours – demeaning and demoralizing or useful measurement?
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the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间
anyone who has been in the accounting profession–or legal profession–for any length of time knows how revered the billable hour is. however, plenty of firms are ditching the billable hour–a move that many professionals say is long overdue. 
more: hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go | accounting nerds, unlock your super powers | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson
seth fineberg, a business journalist specializing in the accounting profession, says the billable hour can’t be a significant part of the business model of the future.
survey results: cpa partners rejoice on surging fee growth
even covid couldn’t quiet the cash.
by 卡塔尔世界杯常规比赛时间
the office is over
plus a worrying note on salaries.
by marc rosenberg
the rosenberg map survey: national study of cpa firm statistics
every year, we ask the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? and how would you assess the last 12 months?
more: outlook: private equity comes for accounting firms
here are my thoughts regarding 2023:
- firms will continue to struggle with all facets of remote work. firms will never get back to working in the office as a norm, not because of covid-19, but because their people – especially partners – don’t want to work in the office full-time.
the great resignation or a reshuffling?
how many in-person days make sense for your firm… and who decides?
by steven e. sacks
the concept of “quiet quitting” is now mainstream thought. summer 2022 is over, and with it, for many companies and their workers, their remote work arrangements.
more: four accountability steps for firm success | how to build a standout team | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success
many recognizable companies have sought to get back to some normality. some want workers to return to the office full-time, some have asked for a two- to three-day in-office arrangement, and some have viewed remote work as successful and see no reason to change anything for the foreseeable future.
workers will not easily accept these changes.
headcounts grow 5%; pay rates surge at 7% pace
the only down spots? tax prep and payroll.
by beth bellor
卡塔尔世界杯常规比赛时间 research
we like to see a month or two of increases when we’re talking about jobs, but how about six or seven? that’s the rosy picture seen across several sectors in accounting, according to the latest available data.
more: cpa staff wages hit new high and keep climbing | firms battle staff shortages with pay hikes | tax & accounting firms beef up wages and headcounts | employee counts, earnings rise
oh, you’re an employee looking at potential earnings? they just hit new highs at cpa firms and for staff overall.
we report here on the accounting profession as a whole as well as:
- cpa firms
- tax preparation services
- payroll services
- bookkeeping
- women
the six pillars for fp&a transformation
chris ortega reveals his blueprint for success.
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career reflections
with amy welch
after years in public accounting, chris ortega decided he wanted something different.
the indianapolis native knew he wanted to be an accountant when sarbanes oxley was making headlines and accountants were in high demand. “also,” ortega said, “i always loved numbers.”
more: the 10 financial controls that’ll make you a hero | why you can be a virtual cfo | clients would switch for portals | csr for cpas: the missing ingredient | o.d. lanier: stepping into advisory | secret to success? a growth and abundance mindset
he continued, “i started the first six years of my career in both public and corporate accounting then moved into finance and fp&a while getting my mba.”
armed with his mba in corporate finance from the university of indianapolis and a stellar resume, ortega said something was missing.
“after 17 plus years of experience in accounting, fp&a, finance and leadership, i felt there needed to be a fresh perspective on finance,” he said. “so, that is why i started fresh fp&a, which is fresh perspective on financial partnership & advising.”
and, while many business owners start with dreams and plans, ortega said his company operates with six key pillars in mind.
“think of it as the foundation of a house,” ortega explained.
those six “ps,” as ortega coined them, are:
accounting firms face up to private equity
it should be a record year for m&a.
by allan koltin
the rosenberg map survey: national study of cpa firm statistics
if the last 12 months was the “calm before the storm,” the next 12 months will be the start of the storm! i think we will see some of the big 4 entering into a “conscious uncoupling” and tax planning and consulting going “left” and assurance going “right.”
i also think we will see some of the big 4 firms truly coming together as one global firm. today we have global brands but the firms operate as separate partnerships and don’t operate as one firm when it comes to partner compensation or decision making. i think this will change and ultimately a majority of the top 10 firms will in fact operate as global businesses. i also think we will see a majority of the top 20 cpa firms go the way of private equity (that’s not a typo!).
read more →
survey: are you using too many monitors? or not enough?
a surprising number use just one.
the accounting firm operations and technology survey
see the comments
survey: are you still using a dell pc?
here’s what accountants are buying instead.
the accounting firm operations and technology survey