"Advisory Board" Lists Hot Topics for 2006

The Advisory Board, a well-connected group of practitioners and consultants, peg personnel development and retention, mergers and acquisitions within CPA firms and growing use of technology as the key issues for 2006. Included in these issues will be subissues such as employee and management compensation, a push to implement merit pay (in part based on practice growth) and increased importance of document management systems. Merger forecasters expect an active M&A season, especially among small and mid-sized firms, with acquisition prices reaching double gross fees in some cases.