Tax Practice Development In the most recent Rosenberg Survey, a yearly study of the CPA industry, we see how major seismic factors involving firms’ limited access to capital and the ongoing shift to advisory services may remake the US accounting industry in 2023 The accounting industry is facing macro-sized challenges going forward, including a lack of capitalization that could leave many accounting firms reeling or looking for merger partners, even as the industry as a whole continues to push toward a dramatic shift in its service model, from compliance-based piecemeal work to a more holistic advisory-based partnership with clients, according to a recent industry survey. The latest iteration of the Rosenberg Survey , an annual study of the CPA industry in the U.S. that’s published by consulting firm The Growth Partnership , took a look at the changing complexion of accounting firm ownership — driven by a need for capital that has raised interest among private equity firms — and the profession’s long-anticipated move toward more advisory work. (The latest survey, released in late-September 2022, relies mostly on data from the year previous.) We spoke to Allan D. Koltin, CEO of Koltin Consulting, who contributed his insight to the […]
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