Today’s CPA firms are gunning for growth with innovation, professional development, and strategic acquisitions of top talent and books of business. While the business world becomes more automated, the future will bring tremendous opportunities for accounting firms that are highly leveraged, with well-trained professional staff, using state-of-the-art technology and outsourcing processes, and increased efficiency methods.
The global accounting services market is expected to reach $735.94 billion by 2025, growing at a CAGR of 6 percent, driven by globalization, outsourcing of back-end operations to low-cost economies, a rise in research and development (R&D) investments, and strong economic growth in emerging markets.
Among many trends prevailing in the industry, the cloud is becoming more prevalent to add more flexibility to accounting practices, allowing remote and shared access to resources and data. With accounting systems hosted on the cloud, companies can use the digitally hosted system at any time and from any place.
To put the spotlight on such key developments in the industry, Financial Services Review illustrates how emerging CPA firms are forging new trends that rewrite the CPA rule book and redefine standard business operating procedures. The edition also features articles from J Douglas Maxwell, Chief Financial Officer at American First Finance; Charlie House, Finance Director and Finance Business Partner IT at AutoZone; and Victor Palau, Chief Technology Officer at Ebury, who share their thought-provoking insights on some of the emerging trends that are reshaping the future of finance with new technologies, finance innovations, and business models.
In this edition of Financial Services Review, we also bring to you the stories of some of the emerging CPA firms that have established dominant positions in the financial services industry by adapting to the changing marketplace and the needs of quality clients. In the list, Linked Accounting, a full-service CPA firm, is creating waves in the industry with its tax and financial preparation, bank consulting, and business consulting services; Nitya LLC, a certified public accounting and business advisory firm with a mission to provide the best value and service for clients to maximize their financial goals; and OnTarget CPA, one of the top Indianapolis CPA firm providing accounting, taxation, and consulting services with a client-centric approach. Another company making headlines is Tarraf & Associates, a US-based CPA firm focusing on accounting, auditing, taxation, and other financial services.
Through the following pages, we aim to shine a light on the latest trends that showcase the potential of the accounting services market. We would like to know your thoughts.
