Tough Times for Accounting Associations
A stunning 40% of executives expert there to be fewer associations of accounting firms in the next two years than exist today, according to the April 2005 issue of Inside Public Accounting.
(In law, they're referred to as law firm networks, and for a complete list of them, see Law Firm Networks - Everything You Need to Know on the LawMarketing Portal, www.LawMarketing.com.)
An example is PKF International, with 380 member firms, 470 offices, and more than 13,000 partners and staff in 119 Countries. According to the newsletter, member accounting firms are demanding help with proposals, lead generation, opportunities to collaborate on big jobs and meaningful referrals. Getting new business is what the associations are all about. Here's the list of the top 10, according to IPA:
| Top 10 Accounting Firm Association |
Total Fee Income ($mil) |
Web Site |
| PricewaterhouseCoopers | 17,600.0 | www.pwc.com |
| Deloitte Touche Tohmatsu | 16,400.0 | www.deloitte.com |
| Ernst & Young | 14,500.0 | www.ey.com/ |
| KPMG | 13,500.0 | www.kpmg.com/ |
| BDO International | 3,017.5 | www.bdoglobal.com/ |
| RSM International | 2,128.0 | www.rsmi.com/ |
| Grant Thornton | 2,092.0 | www.gt.com |
| Baker Tilly International | 1,815.0 | www.bakertillyinternational.com/ |
| Moores Rowland Intern'l | 1,794.0 | www.mri-world.com |
| Horwath International | 1,788.7 | www.horwath.com/ |
Up to now associations have been supplying staff training, continuing accounting education and marketing support, but the firms want services that boost their bottom line.
Accounting firms are "looking for some basic things that they weren't getting from their membership: referred business; down-and-dirty meetings where they can share experience and expertise and get in and out quickly; international connections -- and they want those things without the burden of high costs," reports the newsletter, edited by Julie Lindy in Atlanta.
In response, the associations are getting picky about who's allowed to become a member. "The firm that merely pays its dues and contributes little else, and the one that can't be counted on for quality referrals and work, is becoming less and less welcome."
