When an individual graduates with a degree in Accounting and an interest in joining a public accounting firm, they are faced with a choice — “Which career track will work best for me?” While CPA firms have traditionally been defined by Tax and Audit practices, CAAS (Client Accounting and Advisory Services) is the fastest growing sector of modern CPA firms.
CAAS practices differ from traditional Tax and Audit in a variety of ways, but a major point of difference manifests in day-to-day client relations. Advisors maintain strong relationships with clients by working hand-in-hand with them to encourage decisions supported by data and analytics. Unlike Audit and Tax, CAAS does not have a busy season. Each team of advisors is interacting and communicating with their clients on a regular basis, year-round. While the frequency of communication varies on a client-by-client basis, this allows CAAS accountants to form strong and lasting advisory relationships with each of their clients. This personal touch often offers a unique sense of gratification that might be missing in more traditional public accounting roles.
Teamwork is a major part of all CAAS practices. Each client has a service team made up of accountants who fill various roles. For example, one client team might consist of a staff accountant, supervisor, and manager that operate as the outsourced accountant, controller, and CFO, respectively. While team members have their own responsibilities, the team environment allows for mentorship, cross-training, and staff flexibility that may not be found in other areas of public accounting. The team-based approach also fosters the opportunity to work intimately with an array of service industries. Working in internal teams helps create a deeper understanding of individual client needs regardless of industry or niche.
As the outsourced accounting industry continues carving its space in CPA firms, there has never been more buzz around the role of an accounting advisor. Someone who is interested in relationship-driven accounting services, enjoys working in teams, and dreads the idea of a busy season might find their fit in Client Accounting and Advisory Services. Does this sound interesting to you? Learn more about our Client Accounting and Advisory Service practice and career opportunities.