The PCPS Management of an Accounting Practice (MAP) Top Five survey results are in and there are a few surprises. Respondents were asked to rank the top five issues that they found to be "important" or "extremely important." Heading up the list of top five MAP issues are the same two issues as in past years – finding and retaining qualified staff and marketing/practice growth. Fifth on the list of five top issues is succession planning, which was third in 2001. But rounding out the third and fourth spots are two issues that didn’t make the top five last year: seasonality/workload compression and the effect of the new regulatory environment on local and regional firms.

Concerns that ranked among the top five issues in 2001 that were not on this year’s list included fee pressure and price of services, and determining and meeting client needs.

More than 500 firms of all sizes from all over the country participated in the survey, representing 11% of the firms who were invited to participate. Although there was a significant overlap of important issues among small, medium, and large firms, certain issues were of particular importance to firms of different sizes. Large firms expressed concern with marketing and growing their practice, while small firms indicated particular concern with keeping up with technology and with seasonality workloads.

The complete survey can be purchased from the American Institute of Certified Public Accountants. The price of the survey varies depending on the location of the firm requesting the survey, as different state societies offer sponsorship of some of the purchase price. PCPS members receive the survey at no charge. You can join PCPS on the survey request form.

A visual display of the survey results showing the percentage of votes that each issue received can be viewed online.