The Future Of The Accounting Industry In 2015
As we begin 2015, the accounting profession industry is changing rapidly. One of the leading authorities in the accounting industry, Joseph Tarasco, president of Accountants Advisory Group, shares his predictions and identifies critical trends:...MORE
- Fee pressures, rising staff labor costs, and lack of quality staff will force firms to carefully examine their mix of services, industry concentrations, and their positioning in their marketplace relative to their technical/consulting resources and competition. Industry, niche, and service segment profit centers will come under more pressure for better results as the competition stiffens.
- Firms will continue to acquire consulting and advisory companies that compliment their traditional services to provide integrated solutions services to their clients.
- Career development and leadership training will continue to grow as the need for quality professional staff at the managerial and partner levels turns into a crisis mode. Firms will have no choice but to invest heavily in their best and brightest in all stages of their careers in order to remain competitive and develop succession plans.
- The firms who have grown through the consolidation of aging practices will begin to deal with intensified succession issues. This will fuel more mergers of mega-firms into larger firms.
Same old, same old plus some SEC stuff we'll get to before month end.