The AICPA Private Companies Practice Section, in partnership with the Texas Society of CPAs, is gathering data for its much-anticipated benchmarking survey, which enables firms to compare management policies and financial results against other firms.
The Management of an Accounting Practice Survey, known as the MAP Survey, has been revised since it was last used in 2008 with new questions that “reflect practice management issues facing practitioners today,” according to officials with the American Institute of Certified Public Accountants (AICPA). Firms that take part in the survey will receive a summary report at no cost. The summary compares firms’ responses to national averages. PCPS members and Texas firms will receive a report with more comprehensive results.
The survey, conducted every two years, takes approximately three hours to complete. Areas covered include billing rates, expenses, revenue, realization, service offerings, staffing, marketing, and benefits. The survey will close on August 13, with results available in September. The survey, sponsored by Aon Insurance Services, has been administered by IntelliSurvey since 2002.
The 2008 results revealed that 75 percent of the CPA firms surveyed reported growth ranging from 1 to 19 percent from May 2006 through June 2008. Average net client fees per partner rose 10 percent to $664,847. At that time, turnover had slowed down since 2006, but succession planning and professional training continued to be weak areas. In all, 2,722 CPA firms participated.