Succession planning

Usually when a practice is sold, the seller sticks around long enough to introduce the buyer to the clients and assures the client they will be available if any problems develop or to field calls when necessary.

The Institute of Management Accountants has engaged the search firm Korn Ferry to help identify its next leader.

The Illinois CPA Society's annual summit highlighted the biggest concerns confronting the profession.

What will happen to your practice if you die prematurely? What happens if you suddenly become disabled?

There are some solos with pretty large practices and those are more difficult to sell since finding the right type of buyer is harder.

If your CPA firm doesn't have an ownership agreement in place, it desperately needs one.

There will be fewer future buyers of practices, leaving the next generation of solos who want to retire perhaps unable to find a suitable buyer.

Regardless of whether they have reached retirement age, owners must identify the “why” of exiting their business as a first step. Transitions are often entwined with personal relationships, finances and emotions.

Don’t wait for a succession plan; ID.me looms; what the CBO sees for the next decade; and other highlights from our favorite tax bloggers.

Two professionals from Andrea & Orendorff in Kenosha, Wisconsin share their perspectives on how to realign your client base to prepare for succession.

As you counsel your clients about the importance of business transition planning, are you also creating a strategy for your own optimized exit?

Accountants who guide business owners through the exit-planning process can not only deepen their relationships, but also create new revenue streams.

If your firm is a more pleasant place to work, succession often takes care of itself. If you don’t like working there, no one else will.

Cindy Adams, who has served as ISCPA CEO since 2012 and as a member for 40 years, will step down this October.

Ernst & Young elected Julie Boland as EY US chair, as well as managing partner and Americas area managing partner, effective July 1.

The Cleveland-based Top 10 Firm has appointed Andrew Gragnani as its new president, succeeding Andy Burczyk, who is retiring.

Todd Shapiro, longtime president and CEO of the ICPAS, said Wednesday he intends to retire in February 2023.

Weaver merged in PJ; Marcum added BWTP; Somerset acquired an Acumatica practice; Louis Plung is merging in LSB; and Goering & Granatino added Jeff Katz.

The Top Eight Firm has named the leader of the firm’s consulting practice, Brian Becker, as its next MP and CEO.