Fees and partner income grew at CPA firms last year, but the declining economy is likely to take a toll this year, according to the annual Rosenberg MAP Survey.Compiled by consultancy Rosenberg Associates, the study found that firms with annual net fees of over $2 million experienced 10.8 percent growth in those fees last year, but that was down slightly from 11.4 percent growth in 2006. Average income per partner at these firms was $369,000, up from $350,000 in 2006.
Strong demand, increased leverage, rising billing rates and continuing technology efficiencies helped firms post a 5.4 percent increase in profitability.
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