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a different role if your firm merges or is
acquired by another firm?
4. Is there a special expertise needed
to continue servicing your clients?
Who will fill that gap under the new
5. Have you identified a potential
successor, and do you have suffi-
cient time to devote to training your
6. How will your exit affect the remaining
employees in the firm?
A thorough study of your firm as it
relates to current employees, client
service needs, and expected personal
financial remuneration is the begin-
ning of deciding which succession
choice is best for you, your employ-
ees, and your clients. Although the
majority of the respondents in the
CSCPA study favored transition within
the firm, other viable options such as
mergers and acquisition can achieve
the desired results.
The growing awareness of the impend-
ing retirement of a large number of
baby boomer CPA firm owners has
generated both an interest and a con-
cern about CPA firm succession
issues. The survey indicated that CPA
firm owners do look to organizations
like the CSCPA for guidance and infor-
mation regarding succession topics.
Take advantage of the resources avail-
able to you and begin this essential
planning today.
Marie G. Kulesza,
MSPA, CPA is an
assistant professor of
business administra-
tion at Saint Joseph
more than 15 years
of experience in public accounting.
She is a CSCPA Educational Trust
Fund trustee and a member of the
CSCPA Student Outreach and Career
Awareness Committee, the American
Institute of CPAs, and the American
Society of Women Accountants. She
can be reached at
Pamela Q. Weaver,
DBA, CPA special-
izes in tax and busi-
ness consulting serv-
ices. She is also on
the faculty of the
University of Hartford's
Barney School of Business. She is the
former chair of the CSCPA Federal
Income Tax Committee and a member
of the Advisory Council. She holds a
Doctor of Business Administration focus-
ing on optimizing business performance
and leadership. She can be reached at
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Table 1: Information CPA Firm Owners Want
from the CSCPA Regarding Succession Planning
Succession Plan Preference
(continued from previous page)