{"id":116048,"date":"2023-10-11t11:59:42","date_gmt":"2023-10-11t15:59:42","guid":{"rendered":"\/\/www.g005e.com\/?p=116048"},"modified":"2024-08-27t17:01:00","modified_gmt":"2024-08-27t21:01:00","slug":"bill-penczak-partner-accountability-the-only-two-things-that-really-matter","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/10\/11\/bill-penczak-partner-accountability-the-only-two-things-that-really-matter\/","title":{"rendered":"partner accountability: the only two things that really matter"},"content":{"rendered":"

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both tax and audit partners can achieve margin goals, but in different ways.<\/strong><\/p>\n

by bill penczak<\/em><\/p>\n

i was leading a midyear review of the 2023 strategic plan for one of my cpa firm clients, one that has experienced exponential growth (you\u2019re welcome) in the past few years but simultaneously is facing the positives and negatives that accompany rapid growth. as we delved into the goals and objectives in the six strategic areas, it dawned on me that partner focus \u2013 and the ensuing measurement and related compensation \u2013 should be narrowed to just two things, which i will address in a bit.<\/p>\n

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the polar opposite of this kiss approach was the managing partner of a $100 million-plus firm that wound up being gobbled up by one of the supernationals almost 10 years ago. he was brilliant \u2013 he could look at an excel spreadsheet and, in \u201crain man\u201d fashion, immediately identify wrong entries or formulas. (for those readers on the younger age spectrum, \u201crain man\u201d was an academy award-winning film from 1988 starring dustin hoffman and tom cruise.) being the king of excel, this managing partner had created a 20-column rating sheet for each partner to measure their performance. in the words of one partner at the time, \u201cthere was so much detail, we didn\u2019t even know what to focus on.\u201d<\/p>\n

time for wapner, indeed.<\/p>\n

read more →<\/a><\/p>\n