the senior partner of an accounting firm is looking for ways to increase the firm’s business. What other services besides traditional accounting can the firm offer to its clients? What new challenges might this additional work create?
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Accounting firms offer a specific service. This is mainly accounting. Accounting includes book keeping and balancing annual finances. This firm can start offering consultancy services to clients. These services may include advise on how to reduce tax burdens and also forecast the firm's performance.
Not all accounting firms offer audit services. With a little more training the firm can increase their service base by offering audit services to clients.
The major challenge in offering these services may include the cost of hiring new employees or even introducing training to the firm.
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