Practice Management: Succession Planning

by IFAC

Helps you to develop a succession plan, value your firm and consider both internal succession and shared ownership.

This course is not currently available

This course will enable you to

  • Develop a succession plan
  • Value your firm
  • Understand the procedures of an internal succession
  • Understand the options of shared ownership

About the course

As professional accountants grow older their thoughts inevitably turn to their exit - not only from the firm, but from practicing accountancy altogether. If you start to consider your departure from business life, you must consider if the firm you have built up will have value in someone else's eyes.

During your career you have built relationships with clients, helped them, served them and supported them. Yet the question remains will your firm be worth anything to anyone else? And if so, how much and to whom?

A succession plan allows for your orderly exit. This means it is not left to chance and there is a plan in place which gives a degree of comfort to those involved, particularly staff.

This course is part of a series of courses based on the IFAC Guide to Practice Management for Small and Medium Sized Practices and has been produced with the permission of IFAC.

Work through the knowledge and application modules to understand the theory and exchange your ideas with your peers. Then complete the final Putting it into Practice module to create an action plan for your practice.

Look inside

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Contents

How it works

Author

IFAC

IFAC is the global organization for the accountancy profession. It works with its 164 members and associates in 125 countries and jurisdictions to protect the public interest by encouraging high quality practices by the world's accountants. IFAC members and associates, which are primarily national professional accountancy bodies, represent 2.5 million accountants employed in public practice, industry and commerce, government, and academia.

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This course is not currently available. To find out more, please get in touch.