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Introduction
I don’t need to tell the good folks responsible for molding the future of the
accounting profession that we’re in the middle of a succession crisis. In fact,
we’re on the brink of a time our profession has never seen. It’s estimated
that between 40 and 50 percent of all accounting firm partners will retire
within the next ten years. In short, there simply aren’t near enough younger
accountants to turn the car keys over to.
Traditionally, accounting firms relied on as high as ten-to-one staff-to-
partner ratios to maintain the profitability needed to keep our ownership
systems intact. But after the latest economic decline, with its los ...