Succession planning

Partners at larger firms can’t wait until the last minute to set up their retirement

St. Louis-based Regional Leader Brown Smith Wallace announced that co-founder Harvey Wallace will step down as managing partner at the end of the year, with the firm’s current partner-in-charge of audit, Anthony Caleca, stepping into the MP role on Jan. 1, 2016.

The American Institute of CPAs and the National Association of State Boards of Accountancy have proposed to create a “Retired-CPA” status to deal with the wave of Baby Boom retirees in the profession.

The pace of change in the CPA profession is getting faster, and not enough accountants are ready, according to New York State Society of CPAs executive director Joanne Barry.

One of Canada’s largest accounting firms, MNP LLP, has chosen a new CEO, Jason Tuffs, who took over as the fourth CEO in the firm’s 58-year history on October 1.

Leaders of the accounting profession discuss its biggest nightmares

BlumShapiro has chosen Joseph Kask as the Connecticut-based accounting firm’s next managing partner, effective Jan. 1, 2016.

Net fees at CPA firms and per-partner income grew this past year, according to the newly released Rosenberg Survey.

Only 10 percent of accounting and finance professionals believe there is someone internally who could easily step in to fill their role if they quit, according to a new survey.

With an estimated 75 percent of CPAs expected to retire over the next 15 years, according to the AICPA, CPA firms are under pressure to recruit and retain a sufficient number of young accountants to keep the business going.

Marc Rosenberg of Rosenberg Associates has published a new how-to guide for facilitating accounting firm partner retreats.

Four out of five family-owned businesses in the United States are not ready for succession, according to a new study by the accounting firm Baker Tilly.

Is turning out the lights an option?

Professional advisors need to be more protective -- of both their practices and their clients, according to HD Vest president and CEO Roger Ochs.

Chris Rush of ADP discusses the changing demographics, technology and regulation in the accounting profession and how firm leaders can deal with succession planning, recruitment, retention, cloud computing, and the Affordable Care Act, in an interview with Accounting Today editor-in-chief Dan Hood.

George Farrah, executive editor of Bloomberg BNA Tax & Accounting, discusses changes in the accounting profession and the technology and recruiting strategies used by firms, in an interview with Accounting Today editor-in-chief Dan Hood.

The Baby Boomer exodus and technological change are making Millennials more influential than anyone expected

Top 20 accounting firm CohnReznick LLP has elected Frank Longobardi its next chief executive officer, effective October 1,

Let’s say one of your top players at your firm is out suddenly for the remainder of the most important time of the year. What do you do?

I had a client who had five sons and three daughters that worked in his business. Their ages ranged from 28 to 48. I was helping him with exit planning and suggested that I could possibly structure a transaction where either some or all of his children could buy his business.