Accountants Optimistic About Economy
June 30, 2009 by Lela Davidson
Filed under Finance
The American Institute of Public Accountants reported this week that 47 percent of small- to medium-sized CPA firms believe the economy will begin to recover in the fourth quarter of 2009. Ten percent of firms believe the economy is already improving. This comes from the 2009 CPA Firm Top Issues Survey.
“The majority of CPAs in small- and mid-size firms counsel businesses on financial matters, so it is encouraging that they believe recent signs of economic improvement will continue,” said James Metzler, AICPA vice president for small firm interests.
The CPA firms surveyed reported that the biggest issues confronting them as a result of the economic crisis are strains on accounts receivable and revenue reductions because of client attrition and fee pressure. CPA employment is expected to remain steady.
The AICPA expects to announce the complete results of its 2009 CPA Firm Top Issues survey early next week. Key issues will include client retention, succession planning and marketing to new clients.
