The AICPA 2008 Succession Survey, as you would expect, has a great deal of information about the current state of succession at multi-owner firms and recommended best practices for those firms. What will come as a surprise to some is there is an equivalent amount of information, observation of trends, and recommended best practices for the sole practitioner.
To give you a flavor, 14 percent of the sole practitioners responding indicate that they have current succession planning challenges, 18 percent say they will have succession planning challenges in the next one to two years, and one-third report they will have succession planning challenges in the next three to five years.
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