Nobody Asked Me But…

Traditionally, this is the time of year when all assorted types of pundits and columnists weigh in with their annual predictions for the coming year.

And for the past two decades or so, yours truly has been no different.

My track record as far as accuracy in my prognostications has been about 60% or so, with some spot-on declarations – “This young senator Obama from Illinois could be a real contender in the future” (2004). And some that haven’t quite rung true – “Who would want to watch a TV show about the lives of advertising men in the 1960s?” (2007).

But I digress.

So as we stand at the doorstep of 2013, let me dust off my crystal wine glass (sorry, I don’t know anyone who actually has a crystal ball) and let loose with some of my thoughts for the coming year.

• Fully two thirds of the CPA firms I will speak to in 2013 will have either major or minor succession problems but will remain in denial. While others who admit to transition issues, will predictably procrastinate fixing them.
  
• Mergers again will dominate the headlines in the public accounting space with at least two or more regional or Top 100 firms entering into blockbuster unions.
  
• With organic growth essentially flat, more CPA firms will be testing the waters of adding new client niches, particularly wealth management.
  
• Mobile devices and remote access will continue to mold the new CPA firm paradigm as more firms will boost their ranks of remote workers. 
• The search for young professionals with a book of business be the HR “Holy Grail” in 2013 for many firms looking to bolster their growth and succession strategies.
  
• International Financial Reporting Standards will once again be put on the shelf for another year as politics continue to pervade the decision-making process among the domestic and international rule-making bodies. 
• Whether in the 1% or 99%, we’re ALL going to pay more in taxes this year.
  
• The New York Jets will continue to disappoint and frustrate their loyal Big Apple fans.

So there you have it. I’m quite sure I overlooked a few so feel free to add some of your own.

And from all of us at Transition Advisors, we wish you and your families a healthy and happy new year, whatever the predictions.

We’ll get together again in 2013!