Opportunities and Challenges for CPA Firms

Source: CPA Success

According to Mark Koziel – the AICPA's director of specialized communities and PCPS/firm practice management – CPA firms have done a better job than most businesses at weathering the economic storm. Based on his reading of the 2010 National Management of an Accounting Practice (MAP) Survey results, Koziel found that CPA firms have significant opportunities – many of them as a result of growing regulatory and tax complexity. Like other businesses, however, CPA firms continue to face the challenge of controlling expenses and developing strategies for using those savings to drive growth.

Looking forward, Koziel predicts that CPA firms will be “bombarded with ever-increasing change and complexity, especially on the technology front.” This will create new challenges, but it will also mean new opportunities for firms that keep up with the changes and use this knowledge to help themselves as well as their clients.

This blog post includes a video interview with Koziel, in which he discusses CPA firm opportunities and challenges in greater detail.

For the full post, read “MAP survey proves opportunities abound for firms.”

From CPA Success, the blog of the Maryland Association of CPAs, http://www.cpasuccess.com, June 14, 2011.