Prof Frans Vermaak and Ms Elize Kirsten of the Department of Financial Management recently attended the International Academy of Business and Public Administration Disciplines (IABPAD) Conference in Dallas, Texas, where they presented a research report entitled ‘Management of an Accounting Practice (MAP) Survey’.

 

The IABPAD has a global scope and aims to bring together researchers and professionals from all over the world. To reach its goal, the IABPAD has constructed a publication outlet and academic conferences for global scholars. The latest conference was widely attended by scholars from all over the world, including the USA, Canada, Europe, Asia and Africa.

 

Abstracts, work-in-progress and complete papers on topics such as accounting, business communication, economics, education, and entrepreneurship were invited for presentation. Many other topics were also covered during the conference sessions, including  marketing and e-commerce, finance, international business, management, leadership, and public administration,  as well as information technology, contemporary business issues, supply chain management and human resources.

 

Meanwhile, Prof Vermaak and Ms Kirsten co-authored an article with Prof Wolmarans in April 2015, which was published in the Journal of Economic and Financial Sciences. The article discusses the professional accountants sector, which consists of a diverse community of small, medium and large firms.

 

Very little research and analysis have been performed on these accounting firms, especially on the small and medium practices. According to the research, this results in a very challenging environment for new entrants into the market, as they have no reference point as to what makes a successful practice. Existing firms also have no reference point as to how they can improve their service delivery to their clients.

 

As part of the research, a survey was conducted among South African firms ranging from sole practitioners to practices with more than fifty partners. It provided answers to some of the most vexing questions asked by practitioners. The results to the key questions include the following: the best methods to attract new clients; the average fees charged for specific services; the services with the most significant contribution to the average firm’s turnover; and the general ways to manage staff, clients and cash flow in an accounting practice.

 

Ms Kirsten at the IABPAD Conference in Dallas, Texas

 

 

Ms Kirsten during her presentation at the IABPAD Conference in Dallas, Texas