Yesterday morning, Accounting Today published a few letters from readers sent in response to AT’s August 26 article titled Do we need accounting firms? Editor-In-Chief Daniel Hood specifically invited reader comment when he asked out loud if we can do without accounting firms and, as expected, there were comments to be had.
Like Randy Crabtree, CPA who said “we don’t need more traditional accounting firms; we need more forward-thinking accounting firms.” Randy’s cool.
And a couple of academics with a lot of letters after their names used “germinating” in a unique way to say that accounting firms serve a purpose as the proving ground for young accountants which, yeah, OK, we’re on board with that.
4. Germinating the next generation of accountants. Accounting firms are largely responsible for propagating our profession on several levels. Independent platforms or sole proprietors who collaborate ad hoc on specific engagements would have no incentive to do this, and even if they did, they would be unlikely to do it as well due to their independent arrangements. For example, accounting firms offer invaluable internships that allow future accountants to explore the profession. They provide the indispensable service of shepherding inexperienced graduates, also allowing them to satisfy initial employment requirements for licensure, and usually reimbursing their CPA exam fees and providing free study materials. Furthermore, they provide practice rotations, which allow even experienced accountants to reenergize their careers or to start a new career path.
But then you scroll to the bottom and you have Frank. Oh, Frank.
Where did that even come from? Who hurt you, Frank??