Do Your Partners Pay Their Own Way?

Included: both objective and subjective criteria.

By August J. Aquila
What Makes a Great Partnership

While times may be good for many CPA firms, we should not forget that firms cannot afford to have partners who coast or are unable to pay their own way.

MORE ON GREAT PARTNERSHIPS: Why Partners Need Written Goals | The 6-Step Plan for Transitioning Clients | Fighting Restraining Forces | Chemistry and Mutual Respect Matter | Great CPA Firm Partnerships Begin with Trust | Work Together Better in 11 Steps | What Makes a Successful Strategic Plan? | Partners Love, Hate Leadership
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Firms are expecting more from their partners. It doesn’t mean that partners have to work longer hours, but it does mean that partners need to contribute more to the economic value of the firm and learn how to work smarter.

Posted on December 16, 2016

August J. Aquila

About the Author

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August J. Aquila is an internationally known speaker, consultant and author and has held leading positions in the accounting profession for more than 25 years. He is CEO of AQUILA Global Advisors, a full-service consulting firm to accounting and other professional service firms in the US, Canada UK and India. August focuses his consulting on designing compensation plans, resolving organizational and partner issues, transition planning and developing strategic plans.

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Before starting AQUILA Global Advisors, he held several executive leadership positions with American Express Tax and Business Services, Inc. He was also a partner in a top-50 firm and regional marketing director for Coopers & Lybrand (now PWC) in Chicago. In 2003 he was elected into the Association for Accounting Marketing’s Hall of Fame and has been selected as one of the “Top 100 Most Influential People in The Accounting Profession” by Accounting Today for several years.

He is the author of hundreds of articles and several books on practice management; mergers and acquisitions and compensation plan designs. Recent books include The CA Firm of the Future (Bombay CA Society, 2013), Performance is Everything (AICPA 2012), Compensation as a Strategic Asset (AICPA 2007) and Client at the Core (John Wiley & Sons 2004). August is also a co-author, with Robert J. Lees and Derek Klyhn, of Leadership at its Strongest: What Successful Managing Partners Do (Bay Street Group LLC, 2013), the ground-breaking research on how managing partners drive improvements in their firm’s competitive and financial performance

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