Succession isn’t just a future problem—it’s one of the biggest operational challenges accounting firm owners face today. Strong accounting firm succession planning can dramatically increase the value of your practice and reduce stress when the time to step back finally arrives.
The first step is documenting everything. Buyers want to see clear workflows, client management processes, technology usage, and reporting structures. A well-documented practice tells buyers the business can run smoothly without you hovering over every detail.
In Australia, a recent report shows only 19% of family businesses have a documented succession plan in place. Grant Thornton Australia
While that figure is for family enterprises broadly, it signals how prevalent the planning gap is—and by extension how much heads-up you can gain by being prepared.
Next is client handover. Practices that begin transition conversations early—ideally 6 to 12 months before a sale—retain more clients and achieve higher valuation stability. Buyers look closely at client dependency risk, so early handover plans immediately build trust.
Team structure also matters. Firms with engaged staff, clear responsibilities, and a well-communicated transition plan often complete sales faster. High staff turnover or unclear leadership responsibilities can cause delays or reduce buyer confidence. According to industry commentary, firms without clear succession processes face major value erosion. Accounting Times
Finally, consider your exit timeline. Whether you’re planning to stay for 6 months or two years post-sale, setting expectations early helps both sides plan effectively.
If you’re ready to strengthen your accounting firm succession planning, our team can help you prepare your practice and guide you through every step. Get in touch via our contact page.