Top 5 opportunities for accounting firms

Top 5 opportunities for firms

Firm leaders aren't backing down from the challenges of a rapidly changing profession.

Senior executives from Accounting Today's 2026 Top 100 Firms and Regional Leaders named advisory and tech adoption as the top opportunities for the profession. Paradoxically, the other opportunities they identified are derived from some of the biggest challenges, including navigating the private equity-fueled wave of consolidation and the talent shortage.

There is a tremendous opportunity to build a more inclusive and agile profession — one that reflects the global economy and is prepared to meet the challenges of the future," said Brian Becker, managing partner and CEO of Illinois-based RSM. "By investing in talent and fostering a culture of continuous improvement, firms can ensure their continued relevance and success."

Advisory

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Firm leaders overwhelmingly identified advisory and consulting services as the top opportunity for firms. This is driven by technology like artificial intelligence and automation allowing professionals to spend more time on high-priority tasks and relationship-building, and clients' increasingly complex needs amid economic uncertainty, geopolitical instability, and changing regulations and tax laws.

"As businesses face increased complexity — from regulatory pressure to talent constraints to rapid technological change — they are looking for advisors who understand their business holistically," said Colin Kendall, chief marketing officer of Maryland-based SC&H. "Firms that can combine strong technical fundamentals with practical advisory insight, supported by modern technology and real-world experience, will be best positioned to stand out."

Talent

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While the staffing crisis is an often-cited challenge within the profession, some firms are taking an optimistic approach.

"The mentorship and learning-by-doing that have defined the profession for generations become even more meaningful in times of great change," said Tom Watson, CEO of Forvis Mazars. "Yes, it is important to invest in new technology and new ways to structure our workforce. But only the organizations that make equivalent investments in their people and cultures will meet this moment."

Post-consolidation landscape

Private equity has driven a massive wave of consolidation in the profession, fueling large firms' geographic expansion through acquisitions of midsized firms. Leaders see this as a double-edged sword.

"Our industry's environment is one fraught with consolidation and an emergence of private equity investors," said Travis Horton, partner at HHM CPAs in Tennessee. "With these extreme cultural changes, it is quite possible that firms will begin to lose good employees, good partners, and even good clients."

However, regional firms, in particular, see the hollowing middle market as a great opportunity to fill the gap left behind.

"Filling the sweet spot between large national firms and small local firms and leaning into our culture have been the drivers to our recent growth, and we feel it will continue to deliver opportunities as more and more firms are acquired or become wrapped up in private equity activities," said Ben Ripple, managing partner of Bernard Robinson & Co. in North Carolina.

Differentiation

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Firm leaders emphasized the importance of differentiating to attract both clients and talents.

"There's a growing demand for outsourced accounting, risk management and compliance solutions, especially in sectors like government contracting and private equity," said Michelle Thompson, CEO of North Carolina-based Cherry Bekaert Advisory. "Firms that can deliver data-driven insights and automation will differentiate themselves and capture significant growth."

Tim Brackney, CEO of Texas-based Springline Advisory, pointed to firm culture as another way to differentiate, especially when scaling. In a relationship-driven profession, culture is a competitive advantage.

"A collaborative spirit, mentorship and shared values can easily fracture as firms add people and offices," Brackney said. "But if they can institutionalize what makes them special by defining deliberate practices, staying disciplined about cultural fit in hiring, and investing in leadership at every level, they will have something many large competitors have lost: the agility of a small firm with the resources of a national player."

Tech

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Adopting technologies like AI and automation are an opportunity for firms to increase efficiency and modernize their processes.

"The biggest opportunity for accounting firms is to break out of the cycle of commoditization by using technology, particularly AI, both as an efficiency and to fundamentally redefine where and how value is created," said Chris Carlberg, chief strategy officer at California-based Armanino. "If all you continue to do is offer the same services that are completed 100% manually, there is a high chance that you will either be priced out by competitors who can offer the same, if not better, results at a lower price, or much faster thanks to AI."

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