Talk about your eye-opening numbers. In a recent presentation in Scottsdale, Ariz., AICPA President Barry Melancon examined some of the biggest issues impacting the profession today, and near the top of the list is the availability of CPAs. According to Melancon:
Contributing to those numbers are the impending retirements of leaders of small businesses and CPA firms throughout the country. A solid succession plan can help ensure that your organization survives that transition. The problem, according to the AICPA’s Private Companies Practice Section, is that a shocking 81 percent of firms have no documented succession plan in place.
Help is available, however, starting with this article from the AICPA, which offers guidelines for developing a workable succession plan. Among the suggestions:
Interested in exploring succession planning further? Other helpful resources include:
Do you have a succession plan in place? Click “Comments” below and give us your best advice for putting one in place.
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