In this article, you will learn:
- How to Structure Your Accounting Firm?
- Key Roles For Modern Accounting Firm
Until now, staffing in accounting firms has been defined by traditional pyramid structure including the partners at the top level, managers at the middle, and associates at the bottom or entry-level.
Such a structure proved advantageous for the accounting profession for years.
However, the coming of technological advances such as cloud computing, artificial intelligence, data analytics, etc, are eventually putting the accounting firms on the path of a permanent change in terms of:
- the way they undertake business and manage the same
- Increased emphasis on offering advisory services and strategic inputs
- Hiring specialists such as specialists with specific industry experience, gig workers with specific technical skills, etc
- Accommodating technology
- Shifting to cloud-based accounting
- Transition to online client onboarding
- The shift towards content-driven marketing
- Embracing remote work etc.
Thus, this would require accounting professionals to make adjustments in the organizational structure of their firms as new accounting services, functions, etc would become the new normal.
They will have to introduce staff roles and responsibilities which previously did not exist
In this article, we will look at how accounting firms today can structure their organization so as to be prepared for the future accounting profession.