22 Predictions for 2021

Business hand holding hot chart in crystal ballIt’s not the time for minding and grinding.

By Joseph Tarasco

During these unprecedented times, it is difficult to predict the future. Thus, leadership should focus on planning for various options based upon as many possibly scenarios as possible. This type of planning explores plausible potential business models and implementation processes for impending unknowns.

 

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However, consider the following predictions and trends in your strategic planning for 2021 and beyond:

  1. COVID-19 and its effects on businesses have increased audit risks and will eventually escalate professional liability claims and settlements.

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COVID Drives New M&A Trends

Buyers find good deals as Baby Boomers head for the exits.

By Joseph Tarasco
Accountants Advisory Group

As the economic recession and health concerns in our nation are at a pivotal point and closely linked in a “Perfect Storm,” strategy-oriented CPA firm leaders will take more of a holistic approach to manage and lead their firms.

MORE on M&A: M&A Surges Ahead Despite COVID Crisis | New Rules: Covid Shifts M&A Landscape | Merging in Sellers: What You Need to Know | How to Start (Or Re-Start) Your Own Accounting Firm | Five Keys to Successfully Selling a CPA Firm | Mergers: What Could Go Wrong? | 10 Questions to Ask Yourself Before Buying an Accounting Practice

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Coming to terms with the recession and health risks, leaders must not only focus on the current and immediate issues affecting their firms but now they must also plan for the near and long-term future “New Model.”

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