Trends That May Affect You This Year and Beyond

Source: RedZone, Play of the Month

Highlights of predictions:

• Lateral mergers among smaller firms will increase, allowing partners to retain some control and avoid the culture shock of merging with a larger firm.
• More smaller firms will split up because of disagreements about succession planning and the future of the firms.
• The need for quality managers and principals will become a crisis.
• Fee pressure for generalist work will lead to more and more emphasis on niche development.
• There will be a major shift to a buyer's market for the acquisition of CPA firms.
• Partner compensation will become more a function of performance and contribution to success. Partner retirement will be changed to reflect the need to keep young partners from leaving and to attract new partners and merger candidates.

For the complete article, read "Predictions for 2013 and Beyond."

From RedZone, Play of the Month, Accountants Advisory Group, December 2012, www.AccountantsAdvisory.com.