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ENG2124 - ENG2124. How to Assess Your Firm's Future Succession Paths - Internal vs. External

‐ Jul 28, 2021 3:45pm

This session will explore the pros and cons of internal vs. external succession. It will highlight the benefits, challenges, risks, and opportunities that should be considered in determining which pathway is best for your firm. The presenter will use actual case studies of firms that have had success (and failures) with both internal and external succession. The presentation will drill down on the critical areas that drive successful succession including: Required Investment Capital; Leadership Succession; Sustainable Practice Growth; Firm Profitability and Partner Compensation; and Firm Valuation and Deferred Compensation/Retirement Benefits.

Learning Objectives:

  • Distinguish the life cycles of a CPA firm.
  • Identify why the pillars of succession – leadership, growth, talent, and client service need to be repopulated every decade.
  • Outline how to assess the pros and cons of internal vs. external succession.


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