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Succession remains one of the most serious challenges facing small firms.

Publication: The National Public Accountant
Publication Date: 01-OCT-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Succession remains one of the most serious challenges facing small firms.(succession planning )

Article Excerpt
According to the AICPA Private Companies Practice Section (PCPS) National Management of an Accounting Practice (MAP) Top Five Issues Survey, succession remains one of the most serious challenges facing small firms. Within the next decade, an increasing number of baby boomer practitioners will head into retirement, resulting in a massive transfer of ownership and management in the profession.

Firm ownership is one of your greatest assets, and proper planning can help safeguard its continuity. How can you ensure a smooth and successful transition in your firm? An important way is to groom future leaders in advance. This...

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