Accountants in mood for expansion
A total 73 per cent of Australian accounting firms expect to expand over the next five years, according to an Institute of Chartered Accountants (ICA) survey in Australia.
Quoting the latest International Innovation Network survey, in which it participated, the ICA said over 60 per cent of accountants in Australia will not change their jobs in the next two years.
The survey also said that the “retention of quality clients was found to be a critical or very important issue for Australian accountants, a finding mirrored by overseas survey respondents”.
Another important issue for Australian and overseas accountants was attracting the right type of clients, and also building management and leadership skills, according to the survey.
By contrast, succession planning was low in priority for many accounting firms, with only 40 per cent of respondents listing this issue as important.
Managing a work life balance and keeping abreast of the volume of work was another area of concern for accountants.
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Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.
