The rate of growth for global accounting firms has dipped for the first time since 2009, according to a new survey from the International Accounting Bulletin.
According to the research, global accounting firms reported 5% income growth in 2012 compared to 8% in 2011, with 18 out of the 22 networks surveyed growing revenue down from 21 the previous year.
Firm leaders have identified the following driving factors for the stalling:
- downward pressure on fees
- increased regulatory scrutiny
- lack of organic growth opportunities
Of the 45 surveyed networks and associations...