A global survey of tax and accounting professionals at firms of all sizes found that most firms experienced revenue growth.
The survey results in Wolters Kluwer’s Future Ready Accountant Report also identified insightful differences between the actions taken by high-growth firms and the approach taken by firms experiencing stagnant or declining growth.
According to data in the report’s appendix, high-growth firms — identified as those reporting revenue growth of 5% or more — more commonly made changes over the past one to three years aimed at enhancing client offerings and improving staff's ability to serve those clients.
And, while just 5% of high-growth firms reported making no major changes in 19 areas included in the survey, 15% of declining/stagnant firms reported making no major changes. See the six common areas of change for high-growth firms.