Nick May, CPA

The Audit Spiral If your audit season feels like Groundhog Day something’s broken. Every year, it’s the same: late reconciliations, review notes piling up, and your finance team running on fumes before the year’s even started. Here’s the uncomfortable truth: The audit isn’t the problem. Capacity is. When your senior team’s spread thin between compliance and projects, you lose control of both. That’s where a Virtual CFO changes the rhythm. We bring order to the chaos designing tighter workflows, setting up pre audit packs, aligning global entities, and managing audit partners with CFO level experience. The result? No more last minute scrambles. No more all nighters before sign-off. Just a clean, confident audit process your board can rely on. 📌 You can’t audit clarity into chaos you have to build it in. 👉 If audit season owns your calendar every year, it’s time to change the model not just the process.  

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Interesting insights about the CPA exam from a recent Journal of Accountancy podcast:   ➡️Spoiler alert: TCP has the highest pass rate, and the pass rate for BAR is under 40%   ➡️The difference in the test and what is causing the most challenges are the task-based simulations (i.e. small case studies.)   ➡️As a reminder, if you passed BEC before the change, you did not need to take a ‘Discipline’ test. Therefore, the number of individuals taking one of the ‘Discipline’ tests is low.   ➡️Most candidates are sitting for the Core sections first. 💡If you are studying for the test, remember:   ➡️Multiple-choice questions are easier and give immediate feedback.   ➡️But you need to practice the more complex simulations. Not just memorizing facts, but understanding a situation, putting different pieces of accounting knowledge together, and solving a more complicated problem. 𝗙𝗶𝗻𝗮𝗹 𝘁𝗵𝗼𝘂𝗴𝗵𝘁 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗽𝗼𝗱𝗰𝗮𝘀𝘁:   The changes are normal; demand for CPAs is strong; the exam is still very passable with good preparation and a smart strategy. As a refresher:   Everyone has to pass 3 core sections:   • Auditing and Attestation (AUD) • Financial Accounting and Reporting (FAR) • Taxation and Regulation (REG)   Then you choose one Discipline section based on your background and interest:   • Business Analysis and Reporting (BAR) • Information Systems and Controls (ISC) • Tax Compliance and Planning (TCP) https://lnkd.in/dhUwm_ei #cpa  #publicaccounting #accountingandaccountants #cfo  

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Accounting market update. The latest AICPA data was released last week, below are the highlights… • Accounting grads dropped to around 55,000 in 2023‑24, a 6.6% decline from prior year. • At the same time, accounting firms remain optimistic. 75% expect to maintain or increase hiring. • Accounting program enrollments rose about 12%, which could help ease the shortage in the coming years. What does this mean for companies hiring? • Entry level accounting talent is tighter than ever • Competition is high, and hiring gaps are a real risk Its not all doom and gloom. There’s an opportunity for companies that act now. The ones who win during times like these do these things well. • Build talent pipelines before roles open • Rethink hiring cycles and sourcing strategies, with a focus on the candidate experience throughout the process • Partner with one or two trusted recruiting firms to get their story in front of the right audience

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If you’re looking to add strong accounting talent to your team… read this! 🔸3 yr. CPA 🔸Big Four foundation 🔸Targeting $90K+ base And here’s the best part - She wants to move into inventory and cost accounting. Not “open to it.” Not “would consider it.” Actively interested. She’s specifically targeting CPG, retail, and manufacturing - wants to be tied to a tangible product and closer to the business. Centrally located, which we all know matters. From a personality standpoint, she’s fantastic - grounded, coachable, and very intentional about her next move. This is not a profile I see often at the 3 yr. level! If you’ve been struggling to find early-career talent that’s both technically strong and knows what they want… I’d connect on this one quickly.

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An eye-opening article from The CPA Journal on the declining pool of accounting graduates and the disproportionate impact between the different fields of accounting. https://lnkd.in/eU6wwxRG

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What is in the air lately? And I don’t mean the crisp Fall air. In the past month alone, I have heard at least six instances of Accounting and Finance candidates resigning without providing any notice to their employers at all levels from Directors of Accounting down to Senior Accountants. And on top of this, the resignation was done via email. No phone call or in person meeting. This is the easiest way for you to “burn a bridge.” Hiring managers talk, you more than likely didn’t burn just one bridge, but several. It’s never about the decision itself, it’s all in how you go about communicating it. Let’s use this as an opportunity to remind everyone about professional etiquette. - Two weeks is the standard minimum notice period. I understand that some work environments can become toxic and unacceptable. However, it is still advisable to provide the two weeks' notice. If conditions remain intolerable or worsen, you have every right to leave. This way, there is documentation on file that you acted professionally. “To gain respect, you have to give respect.” Follow Laurie Canepa Follow StevenDouglas

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Hiring a Tax Consultant? Don’t Just Look at the Résumé When tax teams bring in consultants, it’s often under pressure—tight deadlines, complex filings, or staff bandwidth stretched thin. But here’s the truth: the most successful engagements aren’t just about technical expertise. Here’s what great (experienced) tax consultants bring to the table—beyond the bullet points on their resume: 🔍 Context Awareness – They are accustomed to quickly learning new systems, team dynamic, and project goals. 🧠 Critical Thinking – They don't just complete a task—they understand how it fits into your overall strategy. They can offer suggestions/solutions your team may never have considered. 💡 Resourcefulness – When things get unclear (and they often do), they find answers without handholding. 🤝 Team Mentality – They show up as partners, not placeholders. The right consultant doesn’t just "fill a gap"—they add real value. If you’ve worked with a consultant who went above and beyond, I’d love to hear what stood out most to you. #TaxLeadership #ConsultingSuccess #TaxConsultants #InterimSupport #TaxHiring #FinanceLeadership #AccountingStrategy #RecruitmentInsights

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What’s Actually Attracting Finance & Accounting Talent Right Now in the “Job Hugging” job market I’ve been having a lot of conversations lately with finance & accounting talent across South Florida, and a few things keep coming up. The candidates who are still taking calls aren’t looking just to make a change for a small raise in compensation. They’re looking for the right environment to build their careers. Here’s what’s consistently moving the needle: In 1st place: Stability + Profitability People want to know the business is healthy. The roles getting traction are with companies that are profitable, growing organically and through acquisitions — but not overly leveraged or playing financial gymnastics. It’s one of the questions I get most when I say that a company is private equity backed the first thing they think of is how heavily leverage is the business. In 2nd place: Hybrid Flexibility. A couple of days in the office and flexibility the rest of the week is the sweet spot. The “4–5 days in” mandates are turning off a lot of top performers. In 3rd place: Strong Benefits. Healthcare matters again. With rising costs, a solid benefits package is often the deciding factor between two offers. My advice is make sure that you know what they’re currently paying and how it stacks up to your companies offerings as you need to look at everything holistically not just what increase they’re getting on a base salary. They could actually be taking a loss if the healthcare cost are higher. Last place: Mission & Culture Fit. Candidates are being intentional. They’re asking, “Do I believe in this place?” When the mission, culture, and leadership style line up with their values, they lean in. When it doesn’t, they pass. This market isn’t about dangling the biggest comp number anymore. It’s about building trust and showing candidates a stable, aligned, flexible environment where they can grow. The companies that get this are quietly winning the talent war. #SouthFlorida #HiringTrends #ExecutiveSearch #FinanceJobs #CFO #AccountingTalent #Leadership #RecruitingStrategy

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CPA Designation becoming even more important??? One of the more interesting shifts happening in public accounting right now: firms are starting to materially increase incentives around the CPA. Ernst & Young recently announced it is doubling its CPA exam bonus to $10,000 for early-career professionals who pass all four sections in their first year. That’s a notable change for a profession that historically relied more on long-term career incentives than upfront compensation. A few forces seem to be driving the shift: • Pipeline pressure – fewer accounting graduates entering the profession • Licensing changes – states creating alternative paths that may delay when candidates sit for the CPA • AI & automation – firms hiring fewer entry-level staff, but placing a higher premium on those who advance quickly In other words: fewer hires, but more value placed on the ones who become CPAs. For context, a $10K bonus is roughly ~12% of an entry-level salary at many firms. It will be interesting to see how quickly the rest of the Big 4 responds. The bigger takeaway: the CPA designation may actually become more valuable—not less—in the AI era. Curious if others in public accounting are seeing compensation and incentive structures shift as well.

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Accounting ranked as the top finance function struggling with talent shortages, with with 81% of CFOs reporting a shortage in that area, a recent survey by Avalara found. Finance leaders are facing shortages as the accounting profession has been hit by a perfect storm of retirements, employee retention challenges, and dwindling numbers of graduates who specialize in the field.

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OK, Friday hiring debate here - “Does a Controller really need a CPA?” It’s one of the most common debates I see in Accounting & Finance hiring — especially inside PE-backed Portfolio companies. Some of our clients insist on it. Others say it’s outdated. Most candidates have strong opinions either way. Here’s what I’m seeing:  * Pro-CPA: - Demonstrates a rigorous technical foundation - Signals discipline, credibility, and commitment to the craft - Often correlates with stronger audit, compliance, and controls experience - Gives PE firms confidence in environments where accuracy really matters  * Anti-CPA (or ‘CPA nice to have, not required’): - Plenty of top-tier Controllers don’t have the letters — but do have the track record -Operational experience, leadership, and systems skills often outweigh certifications - The best PortCo Controllers are usually business partners, not just technical accountants - Ruling out non-CPAs can shrink your candidate pool more than you realize From my seat — after placing A&F leaders for 20+ years — there’s no universal right answer. It depends on: - The maturity of the finance function - The speed of the value-creation plan - The complexity of reporting - The strength of the existing team And ultimately… what the next 18–24 months look like for the business Sometimes a CPA is non-negotiable. Other times, it’s a nice-to-have, not a dealbreaker. So… Are we overemphasizing credentials? Or underestimating their value? Is CPA a true success predictor — or an outdated hiring filter? Curious to hear your perspective:   If you’re a hiring leader — do you require it? Why or why not?   If you’re a candidate — has CPA (or not having one) helped or hurt your career?

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Private Equity is still buying CPA firms, for books of business and efficiency. For decades, CPA firm buyouts were simple: You valued the firm based on its client list (multiple of revenue). Often, firms were sold to other partners or employees. Private Equity is reshaping that equation. PE firms are moving away from the traditional partner buyout model. They aren't looking for a roster of clients; they are looking for "Platforms." • Scalability: Can the back office handle 2x growth? • Tech Stack: Is the firm automated or manual? • Operational Alpha: Is there a "business" beyond the partners? The Imperial Take: Whether you are selling a firm or running a business, keep in mind: Value is created in the operations, not just the sales. If your "back office" is a mess, you are leaving multiples of value on the table. #PrivateEquity #CPAFirms #BusinessValuation #OperationalEfficiency #ImperialCFO

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Can Tax Survive the Private Equity Model? This is an article you don't want to miss. Private equity is remaking the accounting profession, one acquisition at a time — and it’s not just CPA firms that will feel the impact. In-house tax leaders could soon face inflated costs, continuity risks, and a labor market too thin to support rebuilding domestic capacity if offshoring falters. In "Can Tax Experts Thrive in Private Equity’s Evolving World?", we unpack these hidden ripple effects and how forward-looking tax professionals can protect what matters most Read more: https://bit.ly/3TQPjkU .

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𝐑𝐞𝐜𝐫𝐮𝐢𝐭𝐞𝐫 𝐈𝐧𝐬𝐢𝐠𝐡𝐭: 𝐏𝐄 𝐅𝐢𝐫𝐦𝐬 𝐈𝐧𝐯𝐨𝐥𝐯𝐞𝐦𝐞𝐧𝐭 𝐈𝐧 𝐂𝐏𝐀 𝐅𝐢𝐫𝐦𝐬 What does this mean? What should you look for? ⤵️ When a private equity (PE) firm acquires a CPA firm, it usually signals big changes (some positive or some challenging) for the employees. Here's what it typically means: 1. More Focus on Growth and Profitability 🚀 PE firms aim to increase the value of their investment, which usually means driving revenue growth, efficiency, and profitability. 🚀 You might see more emphasis on metrics, billable hours, cross-selling services, or expanding client bases. 2. Possible Cultural Shift 🚀 CPA firms often have a collaborative, long term, relationship driven culture. PE firms may bring a more corporate, performance driven mindset, with pressure to deliver results quickly. 🚀 Some employees may feel a shift in values or priorities. For example, less autonomy or changes in how decisions are made. 3. Compensation and Incentive Changes 🚀 There may be increased performance based compensation, like bonuses tied to specific metrics. 🚀 Key team members (especially partners) might get equity or profit-sharing in the new entity. 🚀 Benefits and compensation structures might be re-evaluated or standardized. 4. New Career Opportunities 🚀 PE firms often invest in technology, marketing, and infrastructure, which can create new roles and promotion opportunities. 🚀 If the PE firm plans to grow through acquisitions, employees may have the chance to work on integrations or leadership roles in newly acquired firms. 5. Risk of Restructuring 🚀 There might be job changes or redundancies, especially in non-client-facing or administrative roles. 🚀 Some CPA firms experience management shake ups or partner retirements after the deal closes. 🚀 If the PE firm flips the firm in a few years (as is common), there may be more changes down the line. In Short: For most employees, it means: 🌟 A faster-paced, more business-focused environment. Potential for better tools, growth, and compensation but also, less traditional firm culture and more scrutiny on performance. If you're in a CPA firm that's been acquired, it's worth asking leadership: 🤔 What’s the long-term strategy? 🤔 How will performance be measured? 🤔 What changes are planned for staff and clients? #recruiterinsight #PEbackedfirms #whatdopefirmsdo https://lnkd.in/egbxEc5w

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This is a clear and thoughtful breakdown of the common myths around interim tax professionals—and why delaying support can backfire. To the consultants I work with: this captures just a fraction of the value you bring. The ability to step into complex environments, get up to speed quickly, and deliver results is no small feat. To hiring teams: if interim support has been on the back burner, now might be the time to revisit it. We specialize in connecting skilled tax professionals with the teams that need them—often faster than you’d expect.

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Hiring a Senior Accountant in Miami? Here’s What the Market Is Really Saying: Miami has strong accounting talent, but most qualified Senior Accountants are already employed and comfortable. They’re passive candidates, and a lateral move alone rarely gets their attention. What I’m seeing in the market: • Comp has moved up. Competitive Senior Accountant salaries in Miami are now typically $90K–$115K base, with top profiles reaching $120K+ depending on scope, ERP, and leadership exposure. Job descriptions haven’t always caught up. • Demand is high. Companies want public + industry experience, CPA (or CPA-track), ERP expertise, process improvement skills, and strong communication with leadership — a narrow and highly competed-for profile. • Flexibility and speed matter. Limited hybrid options or slow interview processes cause strong candidates to disengage quickly, especially when other employers move faster. The companies successfully hiring right now are aligned internally, realistic on compensation, clear on priorities, and decisive. The issue isn’t Miami talent — it’s market alignment. If you’re hiring or open to the right Senior Accountant opportunity, let’s connect.

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