Extra Succession Planning for Audit Services

As most within the accounting profession will acknowledge as a concern, the number of registered company auditors (RCAs) are dwindling. While I appreciate that not all non-SMSF audits require the RCA status, we tend to find those who perform these type of audits have had a long standing involvement in this area and are typically RCAs. Find out more…

Are the Kiwis Coming to Snatch Up our Firms?

As we enter June, efforts within the practice transaction space will be at an almost feverish pace as purchasers attempt to wind up due diligence activities and finalise contracts for sale. Whilst transactions take place at all times of the year, the January to June period is traditionally a good time to transact, enabling the purchaser Find out more…

Is Equal Revenue Generation a Necessity within Happy Partnerships?

Quite often we are asked whether there should be some form of clause within a partnership/proprietorship agreement regarding the contribution of revenue by its partners. This can be a double edged sword; in some respects the answer is yes, and in others, it’s no. Nevertheless, this is certainly a very important topic to discuss when Find out more…

Tips & Traps to Structuring a Practice Offer

Structuring an offer to either sell or buy a practice is one of the fundamental pillars in the practice sale/transaction process. Typically, the purchaser would submit an offer to purchase a practice, however the vendor could also define the type of terms that they would like to see and would accept as part of a Find out more…

Rent and its Potential Impact on Profitability

With the release of our benchmarking report early in June, the next couple of months will be a great time for firms to review their main KPIs. After staffing costs, RENT is generally one of the next big ticket items. Commonly, rent represents somewhere between 4.5% – 6.5% of total revenue, although a review of Find out more…

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