Practice for Sale

Sydney's North Shore

Accounting / Audit Firm for Sale


PPN04246 – North Shore, Sydney Accounting Practice for Sale

A long standing highly profitable practice specialising in audits as well as compliance.

With fees of $1.3 Mill budgeted for FY 2021, around 64% of this revenue is contributed by NFP and specialist audits; the balance of which representing compliance services. Tax clients are generally middle aged and have been with the firm for numerous years. Lodgements in 2020 were made up of 256 individual returns, 1 partnership, 11 trust, 126 company and 19 super fund returns, along with 47 BAS per quarter.  Specialist audit clients range in size, the larger of which utilise the firm solely for its audit services. The smaller clients within this group utilise both the firm’s compliance and audit services. In total, the firm performs 128 audits.

The firm services some 324 client groups. The bulk of its fees (63%) represent clients within the fee range of $3K – $10K, with a further 19% of revenue from those in the $10K – $20K fee range, and 4% from two clients with annual fees of >$20K. The firm’s overall average client size is just under $4K per annum.

The top 20 client groups contribute approximately 18% of annual fees, the largest of which equates to around 2% of revenue. All represent audit clients and all but one are based in Sydney. Half of these groups are in their 40’s and the main contacts from a further seven of these groups are in their 50’s. Almost three quarters have been clients of the firm for five or more years.

Whilst the firm is currently operating from premises owned by the vendor, its future location is not specific to clients, although any proposed relocation may be influential upon the retention of staff.

The vendor is wishing to retire but would be available to assist with the transition on a part times basis through until June 2023.  

E-mail to request a confidentiality agreement or phone (02) 9233 4333.

The completion of a confidentiality agreement is essential prior to the supply of any information.