Has the switch to electronic invoicing had a big impact?

The introduction of electronic invoicing, for tax purposes, was scheduled for July 2024 in France. Given its postponement until September 2026, CPA firms are starting to change their organisation and their clients' relations to effectively implement electronic invoicing from an economic point of view in order to improve and facilitate client support and the production of data and advice.

Software, which until now have focused on optimising production, will now be geared towards client relations, with the introduction of tools available to clients, and preparation for electronic invoicing despite the 'tax' time lag.

Electronic invoicing will make it easier to process data and provide indicators and dashboards, helping entrepreneurs to manage their businesses more effectively.

Has the EU’s CSRD increased business?

Not yet, but structured firms are preparing, training, and starting to support their clients.

At AFIGEC, we are starting to respond to requests from our clients and have prepared our first 'carbon footprints' statements for clients this year.

Have there been any significant regulatory developments in France over the last 12 months?

Some, such as the CSRD or the implementation of a one-stop shop (“guichet unique”) to facilitate exchanges with government organisations.

How would you describe the health of the accounting industry in France in terms of customer demand, fee pressure, and staff recruitment and retention?

The accounting industry in France is coughing up a bit. As in many countries, we are experiencing:

• Recruitment difficulties
• Sharp rise in wages
• Strong pressure on fees
• CPA firms are grouping together to keep pace with technological developments and offer clients new services,
• Increasing use of employer branding. We are making efforts to retain our employees by offering them benefits to build loyalty.

Are there any service areas where demand has grown over the last 12 months?

In France, the assistance on HR topics is increasing significantly.

Also, the digitalization needs, and the clients need precise and regular indicators.

Furthermore, and above all, clients want to rediscover a sense of proximity that has been lost, particularly with being post COVID and the new technologies that have made it possible to do everything remotely.

Has there been any significant consolidation or merger activity in the accounting profession?

In France, there are more and more mergers, and the larger ones are getting bigger and bigger; this meets the following objectives, among others:

• to facilitate investment in the necessary tools
• to have a greater market impact
• to have more and more specialists in different fields (M&A, tax, legal HR, asset management, etc.)
• a stronger brand image and employer brand

What are your expectations for the next 12 months - are there any potentially significant developments in the pipeline?

Reorganisation of AFIGEC's production tools towards client-focused tools.

Deployment of CSRD missions

Continuing to digitalise client services.