here’s what you’re looking for: marc rosenberg

the biggest issue? how part-time partners are treated.

by marc rosenberg

yes. yes.  i understand that the title of this post may be offensive to both men (why do we need special rules for women?) and women (why do we need to be singled out – isn’t it a given in the 21^st century that women and men should be treated equally?).

more: mandatory retirement: pros and cons (and is it legal?) | partner duties, prohibitions and grounds for expulsion | principals who aren’t cpas | why non-compete and non-solicitation covenants matter | handling pay during the disability of a partner | why voting isn’t such a big deal
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the good news is that i don’t see many partner agreements that blatantly discriminate against women.
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it depends.

by marc rosenberg

of all the issues involved in cpa firm governance, mandatory retirement is one of the most hotly contested and debatable provisions in a partner agreement.

more: partner duties, prohibitions and grounds for expulsion | quick tip: partners investing in clients | why you might want an executive committee | buyout when a partner dies | why and how new partners buy in | a crash course in partner retirement/buyout plans
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first, let’s clarify what we mean by “mandatory retirement.”
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what does “all of their time and attention” mean?

by marc rosenberg

i’ve read hundreds of partner agreements over 20 years and i am unable to meaningfully distinguish between the following:

• partner duties (what partners must do to keep their jobs)
• partner prohibitions (what partners cannot do)
• grounds for expulsion (what actions partners may do that are serious enough to cause their dismissal from the firm)

more: quick tip: partners investing in clients | deciding how to allocate partner income | making partner: today’s 15 essential skills and traits | how to specify managing partner duties | when votes must be taken, what are the options?
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i’ve seen countless different ways that these items are presented in partner agreements. for years i’ve asked these questions:
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bonus: sample agreement language.

by marc rosenberg

during my career, i’ve seen partners come to blows over this.

more: deciding how to allocate partner income | principals who aren’t cpas | why non-compete and non-solicitation covenants matter | handling pay during the disability of a partner | why voting isn’t such a big deal | what’s in a (firm) name? | protect your business with a solid partner agreement
exclusively for pro members. log in here or 2022世界杯足球排名 today.

one partner has a non-attest client who offers an opportunity to invest in the client’s business. a very common example is a client who is a real estate syndicator. this can often be quite lucrative for the partner.
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8 points worth noting.

by marc rosenberg

for 20 years or more, the cpa profession has been expanding services beyond traditional audit, accounting and tax, supplementing its portfolio with a wide variety of consulting services. indeed, in recognition of this, most cpa firms’ logo states something to the effect of “cpas and consultants.”

more: non-equity partners: why have them? | making partner: today’s 15 essential skills and traits | how to specify managing partner duties | when votes must be taken, what are the options? | ownership percentage and capital accounts
exclusively for pro members. log in here or 2022世界杯足球排名 today.

some firms have cpas on board who provide consulting services. other firms hire outside, non-cpa consultants in areas such as technology, wealth management, m&a and health care.
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