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Scott Sanders of accounting firm Sanders Thaler Viola & Katz knows the accounting industry inside-out. The past president of the Nassau Chapter of the New York State Society of CPAs now leads the society's small firm managing and accounting practice committee - a specific niche he also knows well, as managing partner of his 35-member Jericho firm, which is riding the industry's merger wave.
What are the biggest issues facing small accounting firms? Attracting and retaining qualified personnel. It's difficult for a smaller-sized firm - not ours, we've grown to 35 people - but it's difficult for a small practitioner to attract a 15-year senior. Even attracting young people is difficult.
Is a small firm a good fit for new accountants? They learn a lot versus working for the Big Four. If you work for the Big Four out of college, you can work on one account for six months. At a small...