Tax planning advice for passing a family or owner-managed company on to the next generation or selling to a third party, written for anyone who advises or runs one.
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.
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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.
Bloomsbury Core 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 Core Accounting and Tax Service.
Set a high bar for successors
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.
Succession at every level
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.
Time to start planning your exit
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.
The small practitioner's guide to retirement
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.
Articles and books in the Library collection
Succession planning in the independent firm
(Wolters Kluwer, 2007)
This Accountants Digest examines how to go about orderly retirement and planned succession.
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?
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