The Future of The Accounting Firm
The Future of The Accounting Firm
OF THE
ACCOUNTING
FIRM
By Rob Nixon
firms have revenues over $3 million. There are also an estimated 45 per cent of all current Partners over 50
years of age.
There are too many firms and far too many small sole practitioner firms. According to industry statistics
approximately 65 per cent of all firms employ less than five people. There should be half as many firms yet they
should be larger in revenue. Many of the current Partners should not be Partners. If compliance is to become a
commodity then some Accounting firms may not be interested in continuing in their current format. To thrive
Accounting firms needs to offer a broad range of services (see prediction 12) and as such they need to be of a
larger size with a broader range of people offering those services.
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