AICPA 2009 Top Issues--Client Retention is Biggest Concern

Source: Accounting Web

The American Institute of Certified Public Accountants' 2009 CPA Firm Top Issues Survey reports that:

• The recession has caused firms to focus on client retention as its most significant challenge. It was not even in the top five in the 2007 survey (the previous survey).
• Staffing is no longer the top concern but is still in the top 10 for firms with under 20 professionals.
• Marketing and practice growth made the top five. It had not been in the top five since 2005.
• Other significant areas:
  • Technical training.
  • Succession.
  • Tax law complexities--for firms with five or fewer professionals.
  • Partner accountability and succession--for firms with more than 20 professionals.

For more information, see Private Companies Practice Section Firm Resource Center.

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From Accounting Web, www.accountingweb.com/,  July 16, 2009.