insight magazine

Advisory Services Are the Ticket

Demand for accounting advisory services is on the rise. Are you ready? By AICPA | Digital Exclusive - 2017


It may not be surprising that the accounting services industry is projected to grow at 1.8% overall between 2012 and 2017. But it may come as a surprise that specialized advisory services are projected to grow the most aggressively — at a 5.7% clip during that same time period

There also is an increasing international demand for expertise in emerging A&A areas. Accounting organizations around the globe are addressing this with specialized resources and advisory service credentials.

Here are a few highlights for specific advisory service areas:

Forensic & Valuation Service Professionals — Trusted Experts Around The Globe

In response to increased market demand for specialized services and a recognition of the rapidly growing forensic accounting and business valuation disciplines, the Accredited in Business Valuation (ABV®) credential was created in 1997, and the Certified in Financial Forensics (CFF®) credential in 2008.

The global demand for qualified forensic and valuation specialists continues to grow as courts and other triers of facts not only seek out, but recognize CFF and ABV credential holders as experts in their respective fields.

In the 2013 “Top 100 Firms” issue of Accounting Today magazine, it was noted that more than 77% of firms offering business valuation services reported significant growth. In addition, 74% reported growth in litigation support (fifth-largest population), and 65% reported growth in forensic accounting (seventh-largest population).

Information Management and Technology Assurance in an Increasingly Complex World

Today, many corporate executives and operational managers expect immediate, on-demand financial information, advice and services. As a result, accounting operations and information management systems are becoming increasingly interdependent.

As technology evolves and advances, ensuring the integrity and transparency of financial data and business reporting information becomes a more complex process. And more critical than ever.

Qualified financial professionals who hold the Certified Information Technology Professional (CITP®) credential are equipped to provide assurance for, or business insight into, financial-related data, processing or reporting in an ever-changing business environment

The Aging Population & Personal Financial Planning

As baby boomers age and retire in record numbers, they are increasingly looking for objective financial guidance and advice to help prepare them for the next stage of their lives. This is triggering a great demand for personal financial planning services and resources.

Other factors driving this growth are tax law complexities and an uncertain regulatory, political and economic environment.

The Personal Financial Specialist (PFS™) credential was created in response to the increased market demand from this growing population segment and rapid growth in the number of financial professionals providing personal financial planning.

Building on your expertise with an AICPA advisory service credential makes a strong statement. It sets you apart and gets you noticed. Credentials boost your career potential and credibility. Most of all, an AICPA credential establishes you as an expert. And that can be an invaluable addition to your résumé and practice.

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