A PROJECT APPROACH

Survey Shows Strong Demand for Accounting and Tax Consultants

 

MENLO PARK, CA -- When businesses bring in a financial consultant, chances are good he or she will be providing general accounting and tax services. In a nationwide survey of chief financial officers (CFOs), nearly one-third (31 percent) of respondents said their companies are most likely to use project professionals for accounting and tax work. Financial systems consulting and business process improvement followed, with 15 percent and 14 percent of the response, respectively.

The survey was developed by RHI Management Resources, North America's largest consulting services firm providing senior-level accounting and finance professionals on a project basis. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.

CFOs were asked, "For which of the following functions is your company most likely to bring in consulting or project professionals to supplement workloads or gain specialized expertise?" Their responses:

 

Accounting or tax services 31%
Financial systems consulting 15%
Business process improvement       14%
E-commerce solutions 12%
Merger or acquisition 9%
Other 3%
None/no need for consultant 6%
Don't know  10%
  100%

"The demand for accounting and tax services is ongoing, particularly as the accounting function gains greater visibility in business," said Paul McDonald, executive director of RHI Management Resources. "Companies are looking to consultants for expertise in areas ranging from internal audit and tax compliance to mergers and acquisitions and strategic planning."

McDonald added that financial systems consulting and business process improvement are specialties likely to experience rapid growth in the coming years. "Companies undergoing complex financial initiatives of this nature are finding value in bringing in consultants with skills that are not available internally or may not be needed long-term because the projects are of a set duration."

 

RHI Management Resources has more than 100 offices in major cities throughout North America, Europe and Australia, and offers online job search services at www.rhimr.com. To learn about the future of the accounting and finance professions and the growth of consulting, visit Next Generation Accountant at www.nextgenaccountant.com, a research project conducted by the company.

 

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