More than 80 percent of firms do not have a documented succession plan, according to a recent survey from PCPS, the American Institute of CPAs' firm membership section.

Knowing that many CPA firm owners will be retiring before 2010, the PCPS has issued a new white paper, called "Preparing For Transition: The State of Succession Planning and How to Handle the Process in Your Firm." The paper was developed with an outside consultant and members of the PCPS Executive Committee.

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