CD of a Teleconference with an Q&A
A dearth of qualified successors to partners has long plagued U.S. accounting firms. Firms that would prefer to remain independent frequently merge as senior partners approach retirement, simply because they’ve failed to groom a next tier of motivated partners.
A 2006 survey by the AICPA and Texas Society of CPAs found only 7% of accounting firms have partner-in-training programs. Sometimes, simply having a program in place is not enough. A partner-in-training program that gets too little time or resources will fail because it turns out too few or poorly qualified firm leaders.
Listen as representatives from accounting firms with successful partner-in-training programs, and insightful consultants to the profession, help your firm get a partner-in-training program off the ground or reenergize an existing effort. They offered practical guidance on which approaches work well or often fail, so that you’ll be better-prepared to:
- Set up a partner-in-training program that’s deliberate enough to let the firm evaluate prospective partners, and fast-paced enough to open a career path to talented staff.
- Give interested staff a real-world opportunity to evaluate if future partnership is really for them.
- Decide which graduates of the program are ready for partnership and how soon to offer them the opportunity.
Our panelists included:
Joseph Tarasco, is founder and director of the practice management program for Accountants Advisory Group, a Cold Spring, N.Y.-based consulting firm. He is one of the nation’s best-known consultants and speakers on leadership training for CPA firm partners. Joe was managing partner of a New York CPA firm for 15 years.
Nicholas Florio, is a partner at Citrin Cooperman & Co. in New York, one of the nation’s 40 biggest CPA firms. He works with business valuation and consulting for privately held companies. Nick also chairs Premier International Associates, an accounting firm association run by Citrin Cooperman, and sits on his firm’s executive and quality control committees.
Rob Levine, is a partner at Eisner in New York, focusing on software, biotech and other technology clients. He’s worked in public accounting for 19 years and has built a specialty in debt and equity financing. Rob also serves on the SEC practices committee at the New York Society of CPAs.
Terri Smith is a customized training consultant and firms specialist with the Maryland Society of CPAs, based in Towson, Md. She specializes in training coordination and development for large CPA firms, on topics including executive leadership and management.
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TELECONFERENCE CD
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