2H 2022 Business Services M&A Report

What happens when you can’t count on accounting? Boomers in the field began retiring in waves starting in 2020 while fewer young people are interested in the field, which businesses large and small depend on for managing financial operations, internal controls, and financial reporting. There’s a shortage of accountants. Job listings for these financial professionals in 2022 were up 25% from the prior period. And unlike other professionals, digitization and automation don’t appear to be poised to fill the gaps. The 2022 $80 billion Inflation Reduction Act, with funding for 87,000 new IRS agents promises to squeeze the supply even tighter.