The Accountable Accountant

Source: Partner Insights

Partner accountability is the theme of this article by August Aquila. Here are highlights, excerpted with permission.

In my experience — from being a partner in a top 100 firm to consulting with hundreds of firms — I don't think that the average partner takes accountability seriously.

But lack of accountability has a real financial impact: Partners have low trust and are very reluctant to share clients with other partners. Decisions take a long time or perhaps don't get made at all. Partners operate like sole practitioners rather than members of a team.

Lack of accountability is not a new phenomenon, but several factors have made accountability an important element of successful CPA firms today:

• Scarcity of people. One of the key issues facing firms today is the lack of future owners. As a result, firms are requiring more of their current owners and staff.
• Pressure to produce results for clients. Clients continue to become more sophisticated and want more than just compliance services.
• Profit squeeze. Both clients and firms are feeling the profit squeeze. It's no longer acceptable for partners to just be busy. They now need to produce results.

Don't think of accountability as just another management program “du jour.” Accountability is the essence of your success, especially in these trying times.

For the complete article, click here.

From Partner Insights, Aquila Global Advisors, LLC, May 5, 2009, www.aquilaadvisors.com.