Since 1982, Miami-based CPA and business advisory firm Watson Rice has worked with a neighboring accounting firm to fill its personnel needs in auditing engagements. That may not be so unusual, but what makes the relationship unique is the way the two firms have solidified the partnership - through a handshake.As unbelievable as that seems in today's litigious culture, another firm shares a similar experience.

Bill Pirolli, a partner at DiSanto Priest & Co., in Warwick, R.I., merged his small firm into a larger neighboring one after three years of what he described as a "courtship." When he moved his former firm, Pirolli, Deller & Conaty PC, into DiSanto Priest's location before the merger, there was a spatial contract, but how work would be relayed back and forth was done by a gentlemen's agreement, he said.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access