PROVIDENCE ‚Äď The accounting and business consulting firm Kahn, Litwin, Renza & Co. has been ranked as the 96th-largest firm in its industry by Inside Public Accounting in its 2014 IPA 100.
‚ÄúWe are pleased to make IPA‚Äôs list again this year after experiencing 12 percent growth,‚ÄĚ said KLR Managing Director Alan Litwin in an Aug. 4 announcement. ‚ÄúThis recognition is directly attributed to our dedication to developing and maintaining our relationships with our client‚Äôs and our team. There is nothing more important to us than bringing solutions to our clients and delivering extraordinary service with integrity and passion.‚ÄĚ
The only Rhode Island firm on the list, Providence- based KLR‚Äôs 2014 ranking at 96th place was up from 100th place the previous year.
KLR had net revenue of $35.6 million for the fiscal year ending December 2013, according to the IPA ranking.
In its report of the largest accounting firms in the nation, IPA said the challenges facing the industry include ‚Äú‚Ä¶tighter margins, with lower revenues due to post‚Äď recession client demands and higher wages as firms compete for limited experienced talent, which means firms are keeping a watchful eye on finances.‚ÄĚ
Cultural shifts are another challenge, according to the IPA report, because ‚Äúup-and-comers who have ‚Äėthe right stuff‚Äô aren‚Äôt willing to wait the traditional 12-15 years to become a partner and will challenge the firm to rethink normal career paths.‚ÄĚ