growth and complacency must concern accounting firms this year
be proactive and intentional.
by tamera loerzel
the rosenberg national survey of cpa firm statistics
while i could list many trends, predictions and thoughts, i think there are two important considerations to pay attention to over the next 12 months:
- complacency continues to run rampant in some firms. growth has been good for most firms, which means profits have been good and partner compensation is at an all-time high for many, which gives a false sense of security.
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: 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?
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in addition, the noise from the m&a activity and private equity funding along with continued capacity and pipeline issues, velocity of emerging technologies, and other business model transformation needed, many leaders freeze with inaction. those who delay or stop investing in developing leaders; hr and other operational roles; ai, rpa or other technologies; and more will be left behind.
