Magazine article The CPA Journal

Non-CPA Firms' Ascendancy to the Accounting Today Ratings Causes Stir

Magazine article The CPA Journal

Non-CPA Firms' Ascendancy to the Accounting Today Ratings Causes Stir

Article excerpt

Accounting Today caused quite a stir in the CPA world by, for the first time, listing certain non-CPA firms in its list of top 100 firms. It served to exacerbate the already existing fears of many local firms that the recent change by the AICPA to permit a certain percentage of non-CPA ownership in firms was beginning to have its impact. It may also cause many CPAs to join the movement to petition the AICPA to put the issue of non-CPA ownership out to a vote of members.

But that listing of the Top 100 has nothing to do with the AICPA action. Permitting non-CPA ownership is, in reality, a state licensing issue, and so far only one state has taken action to permit non-CPA owners in firms that practice public accounting. That's not to say more won't follow. What the new listings are doing is reflecting the changing nature of the marketplace for accounting and tax services and how that marketplace is being impacted by technology. The demand for the services of the CPA for accounting and tax services at the simplest level is weakening because of the availability of off-the-shelf computer software and the strong marketing efforts of the organizations that Accounting Today added to its Top 100 list. …

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