In this episode, Rob Brown invites Gary Shamis to discuss the challenges and strategies for accounting firms to maintain independence in a landscape dominated by mergers, acquisitions and private equity. Learn the importance of partner alignment, succession planning, leadership and a recalibrated partner buyout process as essential elements for firms to thrive independently. Plus winning strategies such as building advisory practices, fostering a strong culture and executing effective change management to navigate the evolving accounting industry.

Takeaways:

• Why it's impossible for an accounting firm to stay independent.
• Partner alignment is crucial for maintaining independence.
• Opportunistic greed can tempt firms to sell out.
• Firms need a succession plan to ensure continuity.
• Leadership development is essential for future success.
• Culture must be intentionally cultivated in firms.
• Firms should focus on creating value in client relationships.
• Growth is necessary to attract top talent.
• Change management is vital in a rapidly evolving industry.
• Firms need to think independently about their future.

You can check out the video version of this with visuals and graphics here on YouTube:

https://youtu.be/bD94-lOpiXQ

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The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

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