Duff & Phelps - Competitors

Duff & Phelps Competition

Now Viewing Duff & Phelps's competition in: Accounting Services

Recent Developments

Compensation Differences Between Large, Small Firms - How large and small accounting firms handle management issues, including compensation, differs greatly. Partners in smaller firms, those below the top 100, generally focus on building a book of business and maximizing billable hours; compensation is based on performance metrics. Large firms are driven more by corporate strategic plans and firm values, and are more concerned about a team approach, which wouldn't work well if partners were concerned about their personal book of business.

CPAs Visit Congress - The American Institute of CPAs' Major Firms Group visited Capitol Hill for the first time in September 2008 to discuss with lawmakers issues such as tax patents and uniform non-resident tax standards. The Major Firms Group is made up of the largest 100 accounting firms other than the Big Four. Members generally met with their own representatives, and discussed issues of importance to the accounting industry, stressing the importance of the industry to US commerce.

Canadian Piecemeal System Hurts Accountability - The Canadian Public Accountability Board (CPAB) says that the country's provincial regulatory system hurts efforts to hold auditors accountable. It wants to create a watchdog for auditors, and has helped craft laws in Quebec and Ontario for that purpose. CPAB was formed in the aftermath of the Enron and WorldCom collapses, and is trying to establish a framework to audit and protect auditors.

Competitive Landscape

Demand for accounting services depends on new business formations, the increasing complexity of corporate business, and higher personal income. The profitability of individual firms depends on the right mix of services and effective marketing. Large firms have advantages in providing a range of services to large corporate clients and having the resources to serve customers with many locations. Small firms can compete effectively by specializing and providing superior service. The industry's average annual revenue per worker is $100,000.

Full Industry Overview For Accounting Services

Accounting Services Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US accounting and bookkeeping services is forecast to grow at an annual compounded rate of 4.1 percent between 2008 and 2013.

Accounting Services Growth Stabilizes After Dip

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.