Successful practice succession can be a real challenge. You may need to fund the retirement of older partners while keeping the practice an attractive proposition for new ones.
Set a high bar for successors
A collection of practical tips for finding and introducing an effective successor for your accounting firm.
You will need to be logged-in to the website to access the full range of articles available online.
GAA Global succession survey 2014
Analysis of a 2014 survey by the Global Accounting Alliance into the current state of succession planning among firms belonging to its 11 member bodies. 4,547 respondents answered questions on their plans for retirement, succession and business continuation.
The Library 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.
A collection of practical tips for finding and introducing an effective successor for your accounting firm. The author stresses the need to have a consensus among the stakeholders, a clear vision for the firm after closing, and management of the new client base.
Appointing your own successor is not sufficient. This article discusses the importance of having a broader succession plan, particularly for small and medium-sized firms. It also describes the key elements of any good succession plan.
Partners at larger accountancy firms shouldn't wait until the last minute to plan their retirement. Consider your retirement goals and have a long-term plan in place to develop replacement talent.
Strategies and tactics to help sole and small accounting firm owners get the most from their practices before retirement. Topics discussed include planning for succession, developing a practice that will be attractive to buyers, and an M&A consultant's advice for sellers to ensure the successful transfer of a business.
Business strategy: Succession planning
A collection of articles, books and online resources on succession planning for businesses.
Guide to practice management for small-and medium-sized practices
The 4th edition of IFAC's practice guide, published in 2018. Module 8 covers succession planning and includes checklists for a range of scenarios.
Succession planning in the independent firm
(Wolters Kluwer, 2007)
This Accountants Digest examines how to go about orderly retirement and planned succession.
Retiring minds
Economia, Dec 2014
Highlights the issues you need to think about when retiring from your accounting practice. Includes the questions: when are you planning to retire? Are multiple exit strategies on your list of possibilities? How many of your partners or principals are planning to retire in the next few years?
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.
If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by email at library@icaew.com or through webchat.
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.