Tax & Accounting Firms to See More Consolidation

ALSO: Next Gen leadership will rise.

By Jennifer Wilson
The Rosenberg MAP Survey

EDITOR’S NOTE: Every year, the Rosenberg MAP Survey asks the industry’s top consultants to share their observations from CPA firms across the country. How do you think the next 12 months will unfold? Also, how would you assess the last 12 months?

Unless there’s another round of vaccines, we’ll see more COVID-19 disruption as colder weather forces more firm activities indoors. More consolidation will happen as more firm leaders feel pressure to move their problems to a larger firm and the megafirms feel more pressure to keep up with the Joneses and absorb more.

MORE: 2024 OUTLOOK: ‘Specialization Is the Future’ | Remote Work Will See Cuts; PE Will Trickle Down | Tech, Capital Will Drive Accounting Profession Growth | ‘Great Shakeup’ in CPA Firms on the Way | PE, Consolidations to Keep Impacting Accounting Profession | Soft Skills Are Front and Center
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At some point, perhaps longer than 12 months from now, one or more of the superconsolidators is going to falter. More than likely is some significant service failures as their lack of integration and acculturation drives turnover and a talent shortage beyond what they’re able to rescue. I hope this doesn’t happen, but it feels like some of these firms are facing a perfect storm of financial performance and growth expectations, high client demand, capacity issues and a less unified, disorganized leadership apparatus unable to respond to these challenges.

Posted on December 27, 2023

Jennifer Wilson

About the Author

Jennifer Wilson is a co-founder and partner of ConvergenceCoaching, LLC, a national leadership and marketing consulting firm dedicated to helping leaders achieve success by helping them develop and implement leadership, succession, marketing, and training and development plans. Jennifer’s ultimate goal is to make a transformational difference in the lives of her clients and in their businesses.

She is a contributor to Bridging the Gap: Strengthening the Connection between Current and Emerging Leaders in the CPA Profession, available from CPA Trendlines.

Named as one of Accounting Today’s 100 Most Influential People in Accounting, INSIDE Public Accounting’s Top 10 Most Recommended Consultants, and CPA Practice Advisor’s Top 25 Thought Leaders and Most Powerful Women in Accounting, Jennifer has worked in both the public accounting and IT development sectors before cofounding ConvergenceCoaching, LLC. As a partner for the top ten accounting firm, BDO USA, Jennifer ran the National Financial Solutions Group practice with nearly 100 consultants providing financial systems selection, implementation, and support services to clients. Jennifer is a member of the Association for Accounting Administration (AAA), Association for Accounting Marketing (AAM), American Marketing Association, American Institute of CPAs (AICPA), Society for Human Resource Management (SHRM), and International Coach Federation. Jennifer is an active volunteer in the profession and serves as Chair of the Education Committee for AAM, as a member of the Bill.com Advisory Board, and on the CPA Leadership Panel for the CPA Leadership Institute. Jennifer is a member of the New Horizon Group, CPA Consultants’ Alliance, and Accountants’ Global Advisory Panel, all forums for leading consultants to the accounting profession. She is a regular guest columnist and blogger for Accounting Today, Accounting Tomorrow, and AICPA CPA Insider with many recently published articles on leadership, partner programs, people management, and business development. She is a nationally recognized speaker, teacher, and facilitator delivering leadership and marketing programs to accounting and technology associations, state societies, and firms. In her free time, Jennifer enjoys spending time with her husband and three girls, gardening, practicing yoga, running, and is also active in her church.

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