Staffing needs are the top concern of CPA firms, according to a newly released survey by the American Institute of CPAs.
The AICPA's Private Company Practice Section's Top Management of an Accounting Practice's Issues Survey found that the need for qualified staff at all levels was the most critical concern for the majority of firms with multiple professionals in the U.S.
The survey found some differences in concerns, depending on the number of professionals at the firm. For all firms with up to 20 professionals, the No. 2 issue after retention was keeping up with new regulations and standards. Succession planning was a major concern for all firms with six or more professionals.
Developing new partners was an issue for firms with 11 or more professionals. However, the chief issue facing practices with 21 or more professionals was related to human capital. For sole practitioners, the top issue was tax complexity and changes, followed by the effect of new regulations and standards on small firms.
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