There has been flat growth in the certified
public accountant (CPA) industry for the first time in more than 20
years, the 2010 Rosenberg MAP survey has found.
US firms weathered the recession with revenues
in 2009 up an average of 1.4%.
The survey found 38% of CPA firms grew
revenues 5% or more while 41% suffered a decline in revenues.
Profits, measured by income per partner, were
down by 3% from 2008 and averaged $354,000.
The 2010 forecasts predict improvement
compared with 2009. US firms predict an average growth rate of 2.6%
and fewer firms expect negative growth rates.
Rosenberg growth partnership president Jeff
Pawlow said it was amazing to see how quickly the discipline of
marketing CPA services has grown up as a result of the
“More than ever, firms are demanding a return
and accountability from their investment in practice development
activities and the overall function is now being professionalised
as a result. Window dressing is out. [Return on investment] is in,
and in a big way,” Pawlow said.
The Rosenberg MAP survey reports on the
results of 425 firms and measures 100 CPA firm metrics providing a
barometer for practice management for midsized US CPA firms.