TWR Podcast Episode 91: Top 50 Client Accounting Services Firms

The world is full of hardworking accounting and bookkeeping firms whose hard work doesn’t always get acknowledged. Long hours, tons of physical and mental energy, and often extra legwork ensure the financial health of countless individuals and businesses every year. Yet, that exhaustive labor doesn’t always get the recognition it deserves.

In our most recent episode of the Woodard Report podcast (sponsored by RightWorks), hosts Joe Woodard and Heather Satterley delve into the Woodard Top 50 Accounting Services Practice Awards, which were created specifically to give accounting and bookkeeping professionals that much-deserved recognition.

This award, now in its third year, recognizes exceptional client advisory services (CAS) practices in the accounting industry. In this episode, Woodard and Satterley discussed the award's nomination process and the seven ideals that Woodard uses to evaluate the nominees for Woodard's top accounting firms.

What are the Woodard Top 50 CAS Practice Awards?

The Woodard Top 50 CAS Practice Awards honor the best CAS practices, emphasizing their alignment with Woodard’s Ideal Practice Model. The awards are open to firms globally, including non-credentialed bookkeeping firms and CAS practices within CPA firms.

Winners are celebrated at Scaling New Heights 2025 in Orlando and are featured on various platforms such as the Woodard Report and social media.

The nomination and application process

Nominations for the 2025 awards will open in November 2024. Practitioners can nominate themselves or other deserving firms. Following the nomination period, a comprehensive application process begins in January, where nominees will provide detailed information about their practices.

This thorough application helps the selection committee determine how well a firm embodies the seven ideals of the Ideal Practice Model.

Understanding the Seven Ideals

Woodard and Satterley outlined the seven ideals that form the foundation of the Ideal Practice Model. These ideals guide firms toward creating an exemplary CAS practice aligned with their vision, mission, and purpose.

Ideal you/brand

You must understand who you are as a firm. It emphasizes the importance of having a defined vision, mission, and purpose. Woodard explains that even as a firm grows, the leadership's values and identity continue to influence the company’s brand and culture.

Ideal services

Firms must clearly define their services and identify their ideal market. Satterley shared that when she started her firm, she accepted any client, leading to challenges later on. Defining ideal services and clients helps firms avoid the pitfalls of taking on non-aligned or unprofitable clients.

Ideal client

This ideal is about defining who your firm’s ideal clients are. Firms need to establish clear boundaries and processes to ensure they attract and retain the right clients, contributing to the overall success and sustainability of the practice.

Ideal technology

Woodard and Satterley emphasize the importance of having a streamlined, technology-forward tech stack. Technology should complement and enhance the firm’s processes, leading to greater efficiency and better client service.

Ideal process

Documenting and standardizing processes is crucial for scalability and consistency. Satterley reflects on her experience of not documenting processes early in her career, which made it difficult to delegate and maintain quality as her firm grew.

Ideal engagement

You must have clearly defined engagement letters and master services agreements. These documents protect both the firm and the client, setting clear expectations and boundaries from the outset.

Ideal team

The final ideal addresses building a team that aligns with the firm’s brand and culture. A well-constructed team is essential for delivering excellent client service and achieving the firm’s vision.

Practical insights for business leaders

Woodard and Satterley discussed their insights for firms looking to improve their practices. They explained the importance of building a cohesive leadership team. Woodard brought up the concept of “interactive trust,” a term he attributed to business management expert and author Patrick Lencioni. Woodard said that in any organization, the leadership team “needs to say whenever they're not getting things done, or whether they're at the right headspace—that kind of honesty, that kind of vulnerability, being able to ask for help, being able to offer help, without the other person thinking that you're intruding on their space…it makes for healthy teams.”

Listen to The Woodard Report Podcast

Want to hear more insights from Joe Woodard and Heather Satterley? Listen to the entire discussion on The Woodard Report Podcast, available for download and streaming on your favorite podcast platform!