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:
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- 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?
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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.