today's features
outlook & analysis

artificial intelligence plays role in analytics, optimization

accounting profession also impacted by private equity and environmental, social and governance factors.

by angie grissom
the rosenberg national survey of cpa firm statistics

the accounting industry continues to be poised for significant changes over the next year, influenced by trends including more private equity activity and evolving business needs and strategies.

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: challenges for the accounting profession: private equity, offshoring, training new hires | focus on intentional growth | what’s going to happen? lots, say consultants | how accounting firms are handling the staff shortage | when staffing falls short, clients get culled | staffing turnover’s down, but why? | is this the last year of accounting’s golden age?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

the consolidation of accounting firms is expected to speed up in 2024. this trend is driven by the need for firms to enhance their resources, expand service capabilities and gain industry expertise. there will be a notable increase in mergers among top firms, including regional and national mergers, as well as east coast/west coast collaborations to broaden geographical reach. private equity (pe) involvement will also grow, with more pe transactions involving the top 150 firms and smaller tuck-ins. private equity firms are predicted to continue their significant involvement in the accounting sector. key areas of investment will include technology and health care.
read more →

audit & assurance

does your firm suffer cultural deficiencies?

bar chart

six key insights that could apply to any accounting firm.

by 卡塔尔世界杯常规比赛时间 research

an organization’s culture should be one of its most valuable assets. it could also be a make-or-break liability.

and that goes double for audit firms, where integrity and professionalism are all-important.

so it’s troubling when the public company accounting oversight board reports steadily worsening part i.a. deficiency rates among global network firms.

more: audit fees continue to climb | cfos see ai as top risk and opportunity | does accounting belong in stem? | accounting arc | opportunity awaits incoming aicpa ceo | artificial intelligence may already be plateauing | regulation, geopolitical instability spark concern | ten ways to manage price increases | survey says 57% of firms are raising prices next year | how will private equity impact accounting careers? | eleven questions about kids, wealth and the family business | twelve years and out: seasoned accountants join the exodus
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

how much worse? the deficiency rate for global network firms in the u.s. has basically doubled since 2020. and non-affiliate firms are twice as bad.

part i.a. deficiencies are cited when a firm does not obtain enough audit evidence to support its opinion on a public company’s financial statements or internal controls.
read more →

accounting influencers

steve rosvold: what makes the best cfos? | accounting influencers

move from being just an accountant to a successful finance leader using these four pillars of success.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.

accounting influencers
with rob brown

rob brown and steve rosvold discuss whether accountants and cpas make the best cfos, cfo.university, and the four competencies of top financial professionals.

more accounting influencers with rob brown here

steve rosvold is the founder of cfo.university, a professional development platform for finance leaders. he spent 20 years leading corporate finance teams honing his ability to drive change, improve profitability and ensure long-term financial health for businesses before creating an advisory practice that grew into cfo.university.
accounting influencers

michael king: fractional cfos provide challenges and opportunities | accounting influencers

in a world of ai, outsourcing, and shifting client expectations, accountants can remain indispensable.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.


accounting influencers
with rob brown

michael king’s journey to becoming a fractional cfo and mentor to accounting professionals is as unconventional as it is inspiring.

a former nuclear submarine engineer, king transitioned into the world of business management, eventually running a $90 million facility. his lack of understanding of financial principles at the time ignited his passion for empowering business owners with actionable financial insights.

today, king is a fractional cfo and podcaster. he guides others in starting, scaling, and optimizing advisory services through his firm and educational platform, the connected accountant.

fractional cfos are reshaping the financial services landscape by bridging the gap between compliance work and strategic advisory services. king explains that while traditional accounting focuses on rearview mirror reporting—documenting what happened in the past—fractional cfos help businesses look forward with forecasts, projections, and strategic planning.

read more →

pro member exclusive

surveying your staff: why and how

woman working on laptop in office setting

six ground rules for optimum results.

by marc rosenberg
cpa firm staff: managing your #1 asset

“the partners may think they know how the staff feel about the firm, but it’s only important what the staff think.” – marc rosenberg

if you truly and honestly want to make your firm a great place for your staff to work, the first thing you need to do is ask them what they think. there are two primary types of surveys:

more: better communication = better retention | eight strategies for recruiting | why developing women partners matters | six tips for setting compensation | eleven things that good mentors do | how remote work is impacting accounting firms | how to solve the big disconnect in talent management
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

  1. staff satisfaction surveys, where the staff respond to firmwide questions about their jobs, their supervisors, the partners, the management and advancement. these are very much like client engagement surveys.
  2. upward evaluations of partners and managers by the staff. with these surveys, staff evaluate each partner and manager they worked for. some firms opt to limit this type of survey to partner evaluations only.

read more →

client accounting services

wants? needs? cas helps fill both

woman driving green sports car

clients need to see the value … and there’s your opportunity.

by hitendra patil
client accounting services: the definitive success guide

what some clients feel is an absolute need, other clients may feel it is not. people may need to book an uber or lyft ride, but some of them may want a premium ride.

more: automation can be exciting in client accounting services | eight steps for better client accounting services | do you have the client accounting services mindset? | four ingredients to your cas ‘why’ | cas clients are ‘stickier’
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

some of your client accounting services will be the premium ride your clients will want. for some clients, your premium services will be the need. (you want such clients.)
read more →

innovation & change management

what accountants can learn from t-ball

chaotic, crazy, and utterly joyful.

t-ball in new mexico (photo: liz farr)

by liz farr, cpa

i’ve been spending a chunk of time lately watching my grandson’s t-ball games. and i’m loving the rules – or, more accurately—the lack of rules they follow in this league.

more liz farr: jody grunden: subscription pricing is a game changer | loren fogelman: stop undercharging and start being client-centered | brannon poe: grow your business by preparing to let it go | dawn brolin says grow your firm by shrinking it | nicole davis & jw davis show how to create your own pipeline | chase birky builds the anti-cpa firm | what kind of leader are you? | jason blumer & julie shipp: move leaders out of client service |

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

no one keeps score. there are no outs. everyone gets a chance to whack a baseball off the three-foot tee as far as they can. when everyone on the team has had a chance to bat, the inning is over.  the last batter and all the kids on base run around the bases to home, and the other team goes up to bat. two innings, and the game is over.

i love it. it’s chaotic, crazy, and utterly joyful.

read more →

audit & assurance

audit fees climb another notch

bar chart and pie chart

the financial industry tops the list (no surprise).

by 卡塔尔世界杯常规比赛时间 research

audits aren’t getting any easier, that’s for sure.

but that’s a good thing.

more: cfos see ai as top risk and opportunity | does accounting belong in stem? | accounting arc | opportunity awaits incoming aicpa ceo | artificial intelligence may already be plateauing | regulation, geopolitical instability spark concern | ten ways to manage price increases | survey says 57% of firms are raising prices next year | how will private equity impact accounting careers? | eleven questions about kids, wealth and the family business | twelve years and out: seasoned accountants join the exodus | how accounting firms are handling the staff shortage | gen ai in accounting: epic transformation, or overheated hype? | survey shows big opportunities in small business
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

thanks to the headaches continually passed down from the boards and commissions that set the rules and standards for audits of public companies, audits have grown more complex and time-consuming.

add to that the increasing complexity of global business.

and the complications of mergers and acquisitions.
read more →

marketing & sales

bissett bullet: think results. not services

today’s bissett bullet: “productivity is key for most business owners.”

by martin bissett

if what we do for a client gives them time to work on their businesses, then what we charge is paid back by the opportunities they can create, the sales they can make and the profit they can generate as a result. the value we possess, therefore, is talking to them about the outcomes they can create in the time we save them, rather than the services we carry out on their behalf. sound familiar? good.

today’s to-do:

read your last proposal. did you talk about services or outcomes? rewrite any areas in which you talk about services and reframe them to reflect the outcomes they might create. keep this as a template for your next proposal.

see more bissett bullets here

read more →

podcast

steve yoss: automating data entry reconciliations with ai | quick tech talks

save time and reduce errors with automated transaction mapping. 

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.

quick tech talk
with steve yoss
cpe today

artificial intelligence is a game-changing technology. its ability to take on tedious processes allows accountants to focus on higher-value work. a prime example is bank feeds in applications like quickbooks, xero, and other accounting platforms.

more steve yoss
more tech
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

bank feeds already streamline workflows by pulling transaction data directly into accounting systems, but ai takes it further. it can automatically match transactions to existing entries, intelligently categorize expenses, and continuously improve its accuracy based on user input and patterns from other businesses.

read more →

accounting arc

ron baker: visions for the accounting profession | arc

“i’d rather have questions i can’t answer than answers i can’t question.”

click to subscribe anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), boomplay (africa), or rss.

more arc: analysis, reaction, comedy

accounting arc
with donny shimamoto.
center for accounting transformation

ron baker discusses his revolutionary journey in accounting, his challenge to the status quo, and how accountants can lead transformation. 

in the latest episode of accounting arc, baker, founder of the verasage institute, shares his insights into the accounting profession’s evolution. a pioneer in value pricing, baker’s career is defined by a relentless pursuit of better client relationships and innovative business models. 

more accounting arc: angie grissom: next gen inspo for accountants | does accounting belong in stem? | rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know | leadership for the future: stakeholders, sustainability, and strategic vision |

“i knew i wanted to be a cpa in high school,” baker says. this passion led him to a big eight firm, but it wasn’t long before he began questioning traditional practices like the billable hour. “the billable hour was a lousy customer experience,” he explains. 

read more →

outlook & analysis

challenges for the accounting profession: private equity, offshoring, training new hires

chalkboard saying indicating that time to change is now

new tech will force firms to examine value pricing if they haven’t already.

by gale crosley
the rosenberg national survey of cpa firm statistics

private equity interest in the profession will continue. new pe organizations are dotting the landscape, showing interest in firms from the top to the near bottom of the market. family offices and esop investment bankers/consultants are appearing. in the future, firms will have multiple alternative sources of equity capital.

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: recalibration is key for accounting profession | people development still a concern | focus on intentional growth | accounting firms upshift to corporate model | tech anxiety paralyzing some accounting firms | what’s going to happen? lots, say consultants | growth and complacency must concern accounting firms this year | solving staffing requires intention | how accounting firms are handling the staff shortage | the future of fees | as private equity closes in, firms seek new answers to staffing problems | when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

private equities that have already invested are starting to more fully understand the vast operational differences between corporate america and cpa firms. this will put pressure on pe-backed firms to perform in more sophisticated ways. on the revenue growth side, corporate-world staples such as effective firmwide pipeline processes, professional sales organizations and a repeatable innovation (product management) process will start cropping up.
read more →

featured video

jackie meyer: earn more with fewer clients | the disruptors

create a win-win with “the roi method of value pricing.”

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here

 subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.

the disruptors
with liz farr

in 2016, jackie meyer needed a change.

long hours, health issues, and missing out on her kids’ activities forced her to make a radical change. she leaned into tax advisory and tried a new value pricing methodology, which “tripled to quadrupled revenue for our clientele,” even after selling 60 percent of her clients. 

more podcasts and videos: jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business |  nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial | caleb jenkins: firm growth requires owners to shift roles |

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

“but the clients were equally happier to pay more, which is crazy.”  

her pricing methodology revolves around a calculator she calls “the roi method of value pricing.” the aicpa will be sharing her pricing method with members, which meyer calls “a huge win for the profession.” 

read more →