What Clients Think of CPAs' Fees

Source: Accounting Office Management & Administration Report

Following are excerpts from the IOMA survey identified below.

Of respondents to the CPA Firm Client Satisfaction Survey, which surveyed clients about their CPA firms, a little over half (54.7 percent) said they believe that CPA firm fees are "just about right for what we receive." Another 28.0 percent said that their CPA firm's fees are "on the high side, but it is worth paying more for the value we receive."

These responses indicate that clients recognize value when they see it--and they are willing to pay the price. Only 14.7 percent of the respondents believe that the fees they pay are on the high side and count them as a factor in encouraging them to shop around for another CPA firm. A mere 2.7 percent think fees are on the high side and said this is the reason why they definitely plan to look for another firm.

While the smallest and largest organizations by revenue are by no means unhappy, their data indicated a little less enthusiasm for the current fees being paid. Among those with under $5 million in revenue, 37.5 percent said the fees are just about right. Another 62.5 percent indicated that although their fees are on the high side, it is worth paying more for the value they are receiving.

More information about the survey is in the May issue of AOMAR (page 6). Complete results of the CPA Firm Client Satisfaction Survey are in the just-published CPA Firm Client Satisfaction Report. It is available for purchase by going to www.ioma.com/cpa or by calling 973-718-4700.

For the complete article, including tables, click here.

From Accounting Office Management & Administration Report, Institute of Management and Administration, Inc., Newark, NJ, [email protected], September 2009, p. 1, "Keller's Comments: Opportunities for Partners to Turn Over a New Leaf."