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Succession planning is a crucial element in the strategic management of any organization, and CPAfirms are no exception. Prioritizing succession planning can help you improve your talent management while building a sustainable future for your CPAfirm. Saah earned a finance degree from Virginia Tech.
However, in 2025, many CPAfirms will be dealing with a challenge that is far from new: attracting skilled talent. Meanwhile, the talent shortage in public accounting is worsening as more baby boomers retire, and fewer young professionals enter the field and pursue the CPA designation.
Succession planning is a crucial element in the strategic management of any organization, and CPAfirms are no exception. Prioritizing succession planning can help you improve your talent management while building a sustainable future for your CPAfirm. Saah earned a finance degree from Virginia Tech.
However, it doesn’t mean CPAfirms are finding it any easier to staff available positions — or hold on to the valued employees they already have in place. This finding is not surprising in a profession where unemployment rates for many in-demand roles, including accountants and auditors, typically trend well below the national average.
If employee retention isn’t already a priority focus for your CPAfirm, you may want to make it one — and soon. The latest Salary Guide From Robert Half reports that the CPA is a credential in high demand. So, there’s no time to waste in stepping up your retention efforts to hold on to valued staff at your CPAfirm.
CPAfirm leaders outlining staffing plans for the coming year can’t help but worry if they will hit their hiring goals. And unemployment rates for in-demand roles, like accountants and auditors, are typically well below the national average. Saah earned a finance degree from Virginia Tech.
Here’s some news from the labor market that’s both good and bad for CPAfirm leaders and other employers of accounting and finance talent. The upside for CPAfirms is that retaining talent should be a little easier, at least for the near term. Does your firm offer jobs, or careers?
Hiring contract talent is an effective solution to overcome staffing gaps, and one that many CPAfirms are conditioned to using, especially during peak workload periods like tax season. A scalable talent model allows your CPAfirm to access specialized skills when and for as long as you need them.
CPAfirm leaders that view their multigenerational workforce as a source of competitive advantage have the right outlook. But harnessing the strengths of each group, from the Silent Generation to Generation Z, can create significant upside for your business — and help position your firm for future success. By Steve Saah.
Big 4 EY auditors escape potential Wirecard sanctions after leaving profession [ Financial Times ] Germany’s audit watchdog closed investigations against four current and former EY auditors involved in inspecting collapsed payments firm Wirecard after they handed back their professional licences and left the profession earlier this month.
Contact Us The post The Auditor of Public Accounts Oversight of Virginia Local Governments: Key Takeaways Impacting Your 2023 Audit and Financial Reporting appeared first on Cherry Bekaert. Discover our State & Local Government Services.
Hiring contract talent is an effective solution to overcome staffing gaps, and one that many CPAfirms are conditioned to using, especially during peak workload periods like tax season. A scalable talent model allows your CPAfirm to access specialized skills when and for as long as you need them.
If employee retention isn’t already a priority focus for your CPAfirm, you may want to make it one — and soon. The latest Salary Guide From Robert Half reports that the CPA is a credential in high demand. So, there’s no time to waste in stepping up your retention efforts to hold on to valued staff at your CPAfirm.
CPAfirm leaders that view their multigenerational workforce as a source of competitive advantage have the right outlook. But harnessing the strengths of each group, from the Silent Generation to Generation Z, can create significant upside for your business — and help position your firm for future success.
There is no need to alert this audience to the acute shortage of CPA talent. But it’s still worth underscoring how important it is for CPAfirm leaders to closely monitor the job satisfaction of these precious resources — especially at a time when many of these professionals might be thinking about making a job change soon.
Q: What advice would you give your student working on their first project as qualified auditor? Office Space Big Four accounting firm moves office from Norfolk to Virginia Beach Town Center [ The Virginian-Pilot ] KPMG, the U.S. Advice What I did next [ Deloitte ] Deloitte alumnus Aaron Westgate talks about teaching accounting.
Consider recent research conducted by Thomson Reuters Institute that found one in 10 professionals in accounting firms and corporate tax departments are already using some form of generative AI on a widescale basis. And 51% reported that they expect their firms to start using the technology within the next six to 12 months.
But for CPAfirm leaders, it’s difficult to focus on the future when you’re dealing with a host of immediate business priorities. If your CPAfirm is feeling the impacts of the talent shortage acutely, you’re in good company. This is also against the backdrop of tax season, one of the busiest times of the year.
When you incorporate predictive analytics, generative AI and other advanced technologies into everyday workflows at your CPAfirm, you are taking on much more than a technology upgrade. Clients work with your CPAfirm because they want to benefit from the skills and expertise of your staff. By Steve Saah.
Virginia Society of CPAs is tackling the question “ is 150 too many? ” For nearly the past two decades, prospective CPAs in Virginia have had to undertake 150 hours of education before becoming licensed. But a declining CPA pipeline has accountants asking: Is the 150 now a barrier to becoming a CPA?
Imagine the dirty looks PwC partners get from the other Big 4 partners at the country club now [link] — Going Concern (@going_concern) January 4, 2024 Office Space Armada Hoffler Finalizes Lease with KPMG LLP at Town Center of Virginia Beach [ Yahoo! Feel Bad Stories Half of workers feel pressured to work late.
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