The definition of "CAS" is elusive, varying from "client accounting services" and "client advisory services" to combinations of the two – with many CAS practices call themselves something else entirely. But, as CAS becomes more important, that definition is settling down to a primary emphasis on advisory work (though that is always underpinned by the insights gained from handling the client's back-office work).
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Based on our research, CAS is rapidly becoming as much a core service of the profession as tax, audit and accounting. Perhaps more important, the research clearly indicates a move toward that strong focus on providing high-level business advice on a recurring basis.
- Exactly half of the firms surveyed offer CAS, and it represents a third of their revenue.
- The majority of firms that offer CAS (70%) have done so for four or more years.
- The top three services that firms plan to add to their CAS offerings are all advisory-focused, and expanding their advisory capacities is a common growth strategy, right after adding new clients and new staff.
- Apart from recognizing the importance of advisory services, other best practices in CAS have steadily emerged, including building dedicated CAS teams, specializing in niches and balancing client referrals with cross-selling as sources of new clients.
- At the same time, a common set of challenges has also emerged, starting with figuring out how, exactly, to price for CAS.