Global accountants’ association warns profit squeeze may “the new normal.”
In the face of profit problems for accounting practices worldwide, the International Federation of Accountants, which represents the world’s national accountancy institutes, is warning the global profession that fee pressures may be “the new normal.”
With many clients around the world “faced with subdued demand” for their products and services, “it’s not surprising to find small- and medium-sized practices facing demands to negotiate fees or cut prices.”
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