Top concerns vary widely by firm size.
By CPA Trendlines Research
CPA firms small, midsized and large are facing new challenges and reorganizing their priorities as they shake off the aftereffects of the COVID-19 pandemic.
According to the Wolters Kluwer 2024 Accounting Industry Report, based on a survey of 1,509 accounting firms, pricing and competitive fee pressures are the overall biggest challenges firms are dealing with. The pressure is most prominent at small firms, which comprised 90 percent of the survey respondents. Forty percent of those smaller firms said it was their top concern.
MORE: Survey Shows That Tech Remains the Great Divide | Is the CPA Business Model the Clog in the Pipeline? | Accountants Cozy Up to Clients with CAS | CPAs Culling Clients for Better Work-Life Balance | Women-Owned Businesses Upbeat but Need Help | Accountants to the Rescue as Startups Struggle | Looking for Recent Grads? Good Luck
Exclusively for PRO Members. Log in here or upgrade to PRO today.
This is the first time pricing has ranked among the top five challenges since 2015.
Pricing ranked third among large firms, 39 percent of which said it was a problem.
TO READ THE FULL ARTICLE
