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Buying or selling an accountancy practice

The purchase or sale of an accountancy practice can succeed or fail due to a number of factors. The articles on this page focus on ways sellers can make their practice more saleable, as well as highlighting some areas that potential buyers will want to explore.
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ICAEW resources

Exclusive Buying and selling fees
  • 27 Nov 2023
Technical helpsheet to help ICAEW members in practice to identify various issues in connection with the purchase or sale of a block of fees of a practice.
Exclusive Closing your practice
  • 28 Nov 2023
Technical helpsheet issued to help ICAEW members consider the practical and ethical implications of ceasing to practice; be it retiring from practice or closing your practice.
Exit routes from practice
  • 21 Jul 2023
If you are thinking of exiting practice in the next few years planning is essential. Whether you are aiming to ensure a successful sale or want to understand the regulatory requirements of retiring, this event explores your key considerations.
Small Practitioners Community
  • 21 Sep 2023
Exclusive to ICAEW members in practice, this community provides sole practitioners and small firms with bespoke content, webinars, exclusive benefits and networking opportunities.

eBooks

The ICAEW Library & Information Service provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.
Exclusive Buying a business
  • eBook chapter
  • 2018
  • Della Hudson
A chapter on buying an accountancy practice, in this book designed to help a qualified professional to start a successful business from scratch with no personal or business contacts.
Exclusive Buying a franchise
  • eBook chapter
  • 2018
  • Della Hudson
A chapter on buying an accountancy franchise, in this book designed to help a qualified professional to start a successful business from scratch with no personal or business contacts.
Exclusive Deciding your exit strategy
  • eBook chapter
  • 2018
  • Della Hudson
A chapter on how to eventually retire from your accountancy practice, in this book designed to help a qualified professional to start a successful business from scratch with no personal or business contacts.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

More eBooks

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Bloomsbury Accounting and Tax Service.
Exclusive Selling the owner-managed business or company
  • eBook chapter
  • Aug 2023
  • Peter Rayney
  • Tax Planning for Family and Owner-managed Companies
Tax planning advice on selling a family or owner-managed company, written for anyone who advises or runs one.
Terms of use

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

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Online articles

The ICAEW Library & Information Service provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.
Exclusive Common misconceptions about selling a practice
  • 01 Sep 2023
  • Sherif Boctor
  • New Jersey Society of CPAs
Selling an accounting practice is a once-in-a-lifetime experience for most practice owners. Since it is such a rare event, sellers need to be aware of some key misconceptions about the process, says Sherif Boctor.
Exclusive The succession advisor: Don't use a multiplier to value a business
  • 24 Jun 2023
  • Gene Marks
  • Arizent
Advice on using valuation multipliers across different industries and sectors based on historical sales data. The author includes information on typical strategies for valuing an accounting firm for sale and ultimately questions whether the multiplier method should be the primary way to value a business.
Exclusive Smarter ways to buy an accounting firm
  • 14 Mar 2023
  • Blake Oliver
  • Arizent
There are more good accounting firms than ever looking to sell. It's never been easier to acquire complementary firms into your practice if you take the right approach, says Michael Ly, founder of US accounting and tax firm Reconciled. After integrating three successful acquisitions in just two years, he shares some lessons learned along the way.
Exclusive Mergers and acquisitions in the accounting profession
  • 01 Mar 2021
  • Mark Butler
  • Institute of Certified Public Accountants in Ireland
New technologies and the demand for 'one stop shop' advice present opportunities for Irish accounting firms who are open to growing their business through mergers and acquisitions, says Mark Butler.
Exclusive Technical debt: is your firm underwater?
  • 01 Dec 2016
  • L. Gary Boomer
  • American Institute of Certified Public Accountants
A look at the broad business and technological implications of technical debt for accounting firms and their clients. The article suggests some steps firms can take to manage technical debt.
Exclusive Make or buy?
  • 01 Nov 2016
  • Michael Blake
  • Sourcemedia
The article offers ideas for accountants on to determine the price of an accounting firm in an acquisition. Several important factors to consider when pricing firms during mergers including the assumption of liabilities, enrollment of new partners into the compensation program, and the guaranteed minimum compensation levels, are discussed. Suggestion for accounts to refresh the fundamental laws of valuation and the substitution principle to make an accurate estimate of the process is offered..
Exclusive How to keep clients after an accounting practice sale
  • 01 Sep 2016
  • Harry L. Olson
  • Wolters Kluwer
Looks at the seller's perspective on lowering transitional risks, how the seller should communicate with their clients, and the need for the buyer to minimize change for clients in the first years after closing.
Exclusive Navigating the path to success in accounting practice sales
  • 01 Jul 2016
  • Harry L Olson
  • American Institute of Certified Public Accountants
The article discusses the importance of knowing how to avoid major hazards in accounting practice. It explains the protection of the seller's confidentiality and the strongest confidentiality procedures. It suggests avoiding due diligence prior to accepting an offer, avoiding premature announcements to employees and clients, and discusses the importance of competition for keeping the deal on track.
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Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a collection of articles, books and model documents that can support your work. Use the links below to see what we have available to request in our Library catalogue (Libcat).
CPA firm mergers and acquisitions: how to buy a firm, how to sell a firm, and how to make the best deal
  • Library book
  • 2014
  • J.L.Sinkin
  • AICPA
This book aims to 'demonstrate how you can arrive at a reasonable deal in which retiring partners are paid a satisfying price for the practice they've built, remaining partners make more than they did before, and new owners take on a practice that is poised for continuing success and potential growth'. Written from a US perspective.
A practitioner's guide to the sale, merger, acquisition & valuation of accountancy practices
  • Library book
  • 2013
  • J.Hamilton
  • Jobtel
Contains lots of practical advice, key questions to ask, due diligence checklists and sample heads of agreement documents for the process of going about selling, merging, acquiring or valuing an accountancy practice.

Find more titles

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Useful links

Guide to Practice Management for Small- and Medium-Sized Practices
  • Website
  • IFAC
Good practice guidance prepared by the Small and medium practices committee of the International Federation of Accountants (IFAC). Includes modules on managing staff, client relationship management and succession planning, with checklists covering the sale of a firm and the sale of fee-parcels. Available to download in PDF format.
Terms of use

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided 'as is' with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Join the Small Practitioners Community

Exclusive to ICAEW members in practice, this brand new community provides sole practitioners and small firms with bespoke content, webinars, exclusive benefits and networking opportunities.
Find out more
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