Firm Management

Recently, Ernst & Young (EY) dismissed dozens of employees in the U.S. for attending multiple online training courses simultaneously, a move that EY described as “appropriate disciplinary action” for an ethics violation. This decision highlights a significant issue for all professional services firms: the policies governing employee behavior, especially around ethics and multitasking in mandatory […]

Many boutique valuation firms use DealStats as their main source of transaction analysis. However, for members that deal with larger clients or even public company clients, FactSet may be more useful compared to DealStats. Some of the situations where FactSet may be more useful compared to DealStats are: How Much Does FactSet Cost? It’s important

Micromanagement often gets a bad rap. In many industries, it’s seen as a sign of distrust or lack of leadership, where overly controlling managers stifle creativity and autonomy. However, Airbnb CEO Brian Chesky recently shared a different perspective, suggesting that micromanaging—when done correctly—can be a powerful tool for maintaining high standards, especially during periods of

As an independent business valuation firm partner, you’ve dedicated your career to helping businesses understand their true worth, plan for the future, and transition smoothly. But have you taken the time to plan for the future of your own firm? Succession planning is critical for partners of independent business valuation firms. A well-thought-out strategy ensures

The Association of International Certified Professional Accountants (AICPA & CIMA) has announced the appointment of Mark Koziel, CPA, CGMA, as its incoming CEO. Koziel will take the helm of the organization beginning January 1, 2025, following a transition period. This appointment comes after a comprehensive global search to find a successor to Barry Melancon, who

In the competitive world of business valuation, firm culture can make all the difference. Whether you’re leading an independent valuation firm or managing the business valuation arm of a large CPA practice, creating a cohesive and positive firm culture is essential to your success. But how do you build that culture? And how do you

For business valuation professionals specializing in small and medium-sized businesses (SMBs), understanding the economic landscape that these businesses operate within is crucial. Recent trends show that SMBs in the U.S. are experiencing an unprecedented mix of optimism and uncertainty, and this sentiment can significantly influence the factors you consider when valuing such businesses. You can

Offshoring is becoming an increasingly popular strategy for U.S.-based valuation firms to cut costs and scale operations. Popular offshore markets include India, the Philippines, and Eastern Europe. These regions offer skilled professionals at lower labor costs—typically resulting in savings of 30%-70% on tasks like data collection and financial modeling. However, like any strategic decision, offshoring

When it comes to partner compensation at business valuation firms, there’s no one-size-fits-all model. Just like in accounting firms, you’ll find a wide range of compensation structures, from equal profit-sharing among founding partners to significant gaps based on performance, tenure, or other factors. So, how can partners and firm leaders ensure that the earnings gap

In recent years, advancements in technology have begun transforming traditional industries, and business valuation is no exception. Many of us in the valuation profession are familiar with the time-intensive, detail-oriented process that comes with preparing business valuations. From gathering extensive financial data to applying various valuation methodologies, it often feels like a manual, customized process