most firms find that it takes three to four years to fully implement a merger. but during the first few months after the effective date of the merger, there are quite a few administrative and procedural things that need to be attended to immediately. most firms try to get as much of a head start as possible, before the effective date of the merger. read more →
1. the partners must understand the heart and soul of the compensation committee (cc) approach: the system can only work if the people being judged are willing to trust the judges. period. if the partners aren’t comfortable with this, they should not use the cc. read more →
recently my clients, tony frabotta and rick david of uhy advisors, forwarded to me the summer 1988 issue of the pdi report. tongue in cheek, they said to me they were surprised to see that there was another allan koltin who also did consulting to the accounting profession. (needless to say, they were poking fun at me based on my 1988 photo versus how i appear today!)
this issue of the pdi report was not just any issue; it was an issue in which we gathered together the country’s leading consultants (similar to how i participate in the advisory board and new horizons group today) and aired their views on the profession and industry trends through what was then called the first annual consultants roundtable.
some of the issues discussed almost three decades ago are still what we talk about today, including: industry specialization, quality service, the importance of great leadership and management, value billing, and the significance of having a firm vision, mission and core values.
it’s also interesting that back then a mid-sized firm was defined as a firm with $1 million to $10 million in revenues, whereas today a mid-sized firm probably would start at $10 million and potentially go up to $36 million (the cutoff point for being a top 100 firm).
that being said, the following are items that have completely changed since that time or weren’t even on the table for discussion: read more →
a practice continuation agreement (pca) is a written contract between a sole practitioner and another firm for the latter to take over the solo’s practice, either permanently or temporarily, in the event of a sudden, unexpected event that prevents the solo from working, most commonly a health issue.
logically, it would make total sense for every one of the 30,000 sole practitioners in the u.s. to have a pca in place. after all, the solo has no other partners to take her place and in the vast majority of cases, the solo’s staff doesn’t have the skill level or the certifications needed to run the practice in the absence of the owner. read more →
there is no question that leadership development is the most important part of succession planning. but at cpa firms, much more is necessary. a successful succession plan requires: read more →
enduring factors: the talent of our professionals in delivering value to our clients. 
