Challenges and Solutions for CPAs and their firms

The PCPS CPA Firm Top Issues Survey is a biennial study that provides a unique look at the most significant challenges facing practitioners across the country. Based on responses from PCPS member firms, it consists of five top issues lists: one each for sole practitioners, firms with two to five professionals, 6 to 10 professionals, 11 to 20 professionals and firms with 21 or more professionals. In 2009, client retention ranked as the No. 1 priority for CPA firms across the board.

This year’s survey results reveal a diversification in the top issues among firms of different sizes. Smaller firms struggle with Keeping Up with Changes & Complexity of Tax Laws and A&A Standards, and Seasonality. While larger firm lists included Finding/Keeping Qualified Staff and Partner Accountability. A top issue common to all firm sizes is Growth, with Bringing in New Clients and Retaining Current Clients ranking high on the lists across the board.

A good resource to see how you are doing and what you may need to do differently.