A Formula for Reinventing a CPA Firm

Source: Innovative Practice Management

How Mark Bailey Company became one of the top CPA firms to work for in the United States:

• Elimination of time sheets, a form of micromanagement. This led to other changes including the following.
• A results-oriented work environment—team members are ‘invited’ to work on specific engagements and may decline without prejudice, and they decide when, where, and how to do the work.
• Elimination of annual performance evaluations—in favor of a mentoring program. As a result, communication is continual, not annual.
• True flex time environment—pick your level of commitment and be responsible for your own work/life balance.
• True teamwork—as a result of eliminating the dysfunctional staff competitive environments found in most firms.
• Involvement at all levels in the committees that set the direction for the firm.
• New pricing model supported by strong proposals, detailed client service agreements, a staffing and scheduling committee, after action reports, budgeting and profit analysis by engagement.

For the complete blog entry, click here.

From Innovative Practice Management, the blog of Mark Bailey Co., http://www.markbaileyco.com/blog/, October 18, 2008.

Measuring CPA Leadership Effectiveness

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