Our systems all work, and even the bad systems are effective (up to a point). Longevity of clients and client base and high client loyalty.We run profitable businesses with a good percentage of repetitive services providing a sustainable cash flow (this could also be a weakness since losses usually spur change more than profits).The smaller firms adapted quickly (in some cases in a day) when forced to and were good enough with virtual services, which have become pretty standard and are a testament to our adaptability. The larger firms have been set up to work virtually for many years.As a profession, we are relatively free of debt.This is a model that can be emulated by smaller firms, even those with a dozen people. The larger firms, i.e., the Top 100, have become more corporate with centralized and professional management.We have a “franchise” to audit financial statements and do attestation functions.We have strong professional associations and societies that promote the profession and keep track of legislation that might hurt us.Many of us are looked at as thought leaders and our opinions are sought out and listened to.Our clients and the general public rightfully consider us as being smart.A great reputation of trust, integrity and competence.All successful firms hire out of school and grow what they need. Adaptability and adoption of technology and availability of a wide range of systems and software.
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