Is It Time for Firms to Transform Their Business Model?
A recent article in the Journal of Accountancy, written by Miti Ampoma, quotes Lisa Simpson, CPA, CGMA, vice president–Firm Services and head of the Private Companies Practice Section (PCPS) at AICPA & CIMA, as saying "it's important to acknowledge the effects of the past few years. “Many practitioners in public accounting are feeling burned out. They have been in crisis mode instead of being strategic about where they are going, Simpson said. This was necessary to help clients get through the pandemic, but now firms need to recognize how changes caused by COVID-19 — most notably the technology-fueled explosion of remote work and a talent shortage in many firms — have transformed the workforce and firm-client interactions.”