Practice Management

 Contrary to what most CPA firm partners believe, advancement, not compensation, is the top priority among most young CPAs in deciding whether to join and stay with a firm, according to an AICPA survey.

The Top Talent Study by the AICPA’s Private Companies Practice Section (PCPS) asked 646 young CPAs in spring 2006 what was most important to them in choosing an employer. It also asked 645 partners what they thought recruits most prized. The respondents were drawn from 600 firms.

Ninety-three percent of partners said they thought salary was the new recruits’ chief concern; but the recruits ranked it third, below growth opportunities and paid personal/vacation time. In fact, 80% of young professionals placed a chance to move up in the firm as their most important consideration. Partners said they thought advancement opportunities would rank fourth, behind medical benefits and paid time off.

The AICPA incorporated the findings with recommendations for firms in a guide, Gaining a Strategic Advantage in Recruiting and Retention. PCPS members can obtain a free copy by going to . It is also available for $30 to other AICPA members and $37.50 for nonmembers at .


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.