The Shift from Traditional CPA Services to Advisory: Is It Just Hype?

The conversation around the evolving landscape of Accounting is gaining momentum. Professionals are frequently urged to pivot from traditional practices, like Bookkeeping and tax preparation, towards advisory services. With automation and artificial intelligence increasingly taking over routine tasks, many wonder if CPA firms are truly adapting to this change or merely paying lip service to these industry trends.

Despite the clear consensus on the need for a shift, many CPA firms still seem entrenched in their conventional roles. When I speak with these firms, it becomes evident that a significant majority are still focused heavily on tax returns, financial reconciliations, and client cleanups. This raises an important question: Is the transition to advisory services genuinely underway, or is it simply a popular topic at conferences?

It appears that much of the advisory work might be migrating away from traditional CPA firms and into other arenas. Organizations are tapping into internal teams, CFO consultants, and outsourced Financial Planning and Analysis (FP&A) departments to fulfill their advisory needs. This could indicate a fundamental shift in how businesses prefer to receive strategic guidance.

I am eager to hear insights from those working within CPA firms. What does “advisory” really entail in your experience? Are firms offering substantial advisory services, or has it become just another buzzword accompanying historical data analysis? Your perspectives will help illuminate the current state—and future—of advisory work in the Accounting profession.