Every four years, the AICPA’s Private Companies Practice Section (PCPS) works with the Succession Institute to survey practitioners and better understand succession challenges in CPA firms. One survey is exclusively for multi-owner firms. Here are the 2020 survey’s key takeaways for those firms.
Although succession considerations are a concern for many firms, most don’t have formal plans to address it. Succession planning is either already an issue for multi-owner firms or it is looming on the horizon. A large majority