What Clients Want

Source: Accounting Office Management & Administration Report

The Institute of Management and Administration (IOMA) recently conducted a CPA Firm Client Satisfaction Survey in which it asked 78 companies—representing a variety of businesses, industries and revenue ranges—about the issues they need help with and what they like, and don’t like, about their CPA firms.

The complete results will be published later this year, but here are some preliminary findings:

• Not surprisingly, the top issue clients are worried about is the impact of the U.S. economy (87%), followed by financial management issues (38.5%), growth/expansion (33.3%), and staffing issues (32.1%).
• Top concerns vary, however, by industry. For example, the top concern among professional service firms was financial management (83.3%), and the top concerns for health care organizations were growth/expansion (80%) and business development (80%). Only 20% of health care organizations cited the economy as a leading concern.
• Despite the value of client feedback, only 28% of respondents said that their CPA firms conducted client satisfaction surveys.
• Clients that do participate in satisfaction surveys or provide informal feedback to their CPA firms expect a response, especially when the feedback is negative.

We will discuss additional survey results in future issues.

For the complete article and supporting tables, click here.

From Accounting Office Management & Administration Report, Institute of Management and Administration, Inc., Newark, NJ, [email protected], May 2009, p. 1, “Client Feedback: What They Want & How You Can Provide the Greatest Value Now.”