Technical Complexity and Staffing Dominate 2007 PCPS Top MAP Issues Survey

Dealing with technical complexity and finding and retaining qualified staff are among the top practice management issues facing CPAs in smaller firms, based on the 2007 PCPS Top MAP Issues Survey.

The PCPS Top MAP Issues Survey gathers information from a wide range of practitioners in firms of various sizes to get a snapshot of the most critical challenges facing PCPS members. For the first time this year, PCPS is not issuing one overall Top MAP Issues list because it was determined that averaging the answers from many different types of firms does not necessarily accurately mirror the concerns of each segment. Instead, PCPS is releasing five separate Top MAP Issues lists that reflect the views of CPAs who are sole practitioners and those in firms with two to five professionals, six to ten professionals, 11 to 20 professionals and more than 21 professionals.

“CPAs can use these lists to benchmark their own experiences against those of other practitioners in firms much like their own,” said Jim Metzler, AICPA Vice President, Small Firm Interests. “They can confirm that similar practices are facing the same challenges and identify trends that will affect their own firms as they grow. In addition, we at PCPS use the data to create programs and resources that meet the real needs of our members.”

It is interesting to note that marketing/practice growth and client retention—two challenges that appeared on the 2005 PCPS Top MAP Issue lists—do not appear on any of the 2007 lists. Instead, in 2007, CPAs’ main concerns are maintaining their technical competence and finding and keeping high-quality staff.  

For sole practitioners, tax complexity and concerns about standards and technology dominate the list, with work/life balance another important consideration. Finding qualified staff at all levels is the most critical concern for all other firms, underscoring the staffing crisis facing the profession. Retention—a separate issue--grows more important as firm size increases. The survey listed this issue separately from hiring for the first time this year to get a better understanding of what kind of challenge recruiting and retention each pose for firms. The results by firm size were enlightening.

Keeping up with new regulations and standards is the #2 issue for all firms with up to 20 professionals. Succession planning is a major concern for all firms with six or more professionals and developing new partners is an issue for firms with 11 or more professionals. The chief issues facing practices with 21 or more professionals all involve human capital concerns.

Click Below for the 2007 PCPS Top MAP Issues lists by Firm Size:

          Sole Practitioners

          Firms with 2 to 5 Professionals

          Firms with 6 to 10 Professionals

          Firms with 11 to 20 Professionals