Being Accountable for Accountability . . . Continued

Source: Public Practice

In his previous column, Bill Reeb recommended that managing partners approach the goal-setting process with partners or shareholders in four phases: Guidance, suggestion, discussion, and direction.

In this column, Reeb delves deeper into the process using a case study. The study begins with an initial goal sheet that's prepared by an MP for a partner and that outlines partner expectation and action steps for one goal: Increase trusted business advisor activity. Reeb illustrates the back and forth between the MP and the partner as they move through the four phases and fine-tune their plan.

One “overarching theme” in discussing each action item listed for a particular goal, Reeb says, is “What can we do to make sure I [the MP] catch you [the partner] doing this?” He also emphasizes the importance of setting goals based on “normal expectations.” That way, “When exceptional performance is achieved, some reward calculated at something greater than 100 percent for that goal incentive should be given.”

For the complete article, read “Accountability for Performance Management (Column 5).”

From Public Practice, Texas Society of CPAs, August 2012, www.tscpa.org.