Negotiating the terms for a CPA practice transfer or merger is the most important step in setting the stage for a successful transaction. Nearly as important, but often overlooked, is having a well-designed integration plan. Depending on the practices involved and their operational comfort zones, an integration plan may need to be very detailed. It must be developed collaboratively and customized to the firms involved. Typically, firms are on top of their game with the administrative transition (technology, vendors, payroll, etc.). Areas that are worthy of more attention than they often receive include staffing, clients, external communications, and leadership.
Get more details in this article written by Ira Rosenbloom in the Fall 2019 issue of Pennsylvania CPA Journal (PICPA).
Want to listen to the podcast? Ira also did an audio interview with Bill Hayes, the Managing Editor of Pennsylvania CPA Journal about this topic. Listen to or download "Financial Negotiations Are Important, but Don’t Forget Well-Designed Integration."