What's Happening?
Accounting firms are expecting moderate growth in 2026, with a significant portion of this growth anticipated from tax services. Larger firms, however, foresee more growth from advisory services. Despite
the growth expectations, relatively few firms report having more work than they can handle. Technology spending remains stable, constituting just over a fifth of overall firm budgets. Notably, nearly half of the firms acknowledge that artificial intelligence is having a dramatic impact on the profession.
Why It's Important?
The anticipated growth in tax and advisory services indicates a shift in the accounting industry towards more specialized and value-added services. The stable tech spending suggests that firms are maintaining their investment in technology to enhance service delivery and efficiency. The impact of artificial intelligence highlights a transformative trend in the industry, potentially leading to increased automation and efficiency in accounting processes. This could result in a competitive advantage for firms that effectively integrate AI into their operations.
