Accountability is Not Easy

Source: CPA Practice Management Forum

Authors August Aquila and Coral Rice argue that accountability is one of the most important issues CPA firm leaders face. Even though problems like client retention are critical today, “without top-down accountability at your firm, you won't be able to be as successful as you address your other problems.”

Unfortunately, many managing partners mistakenly believe that implementing accountability is easy, and their firms have no process for achieving it. Common mistakes include:

• Using a “checklist” approach rather than concentrating on shaping behavior.
• Focusing on production measures and other outcomes of accountability, rather than on the way things are done.
• Adjusting isolated elements, such as compensation systems.
• Failing to lay the proper foundation for a culture of accountability.

The authors offer a seven-step approach for achieving accountability:

1. Build a culture of trust.
2. Develop strategic leaders.
3. Create a shared mission and vision.
4. Embed core values into the firm.
5. Develop partner standards.
6. Embrace a culture of accountability.
7. Adopt a culture of change.

For the complete article, read “Accountability Is Achievable if...”

From CPA Practice Management Forum, CCH Incorporated, 800-449-8114, September 2010, p. 13.