To comment on this article or to suggest an idea for another article, contact Jeff Drew, senior editor, at jdrew@aicpa.org or 919-402-4056. Resigning from certain assurance engagements requires more consideration, especially if the clients aim is to obtain financing, satisfy loan covenants, or maintain good standing with a regulator. If your spouse died today, would you be prepared? Why CPAs choose Commercial Property and Liability, Why CPA Firms choose AICPA Group Life Insurance, Who is eligible for AICPA-endorsed Group Elite Insurance, Why firms choose Group Personal Excess Liability. In addition, CNA does not endorse any coverages, systems, processes or protocols addressed herein unless they are produced or created by CNA. By using the site, you consent to the placement of these cookies. Accountants in corporate finance have greater operational experience with budgeting and forecasting, as opposed to more past-focused public accountants, whose main experience with industry clients involves audit, compliance and reviewing past results. CPA Firm. Password managers. How could life insurance fit into your retirement plan? Understanding work quality and ease of following past documentation. In light of this fact, I typically recommend the following: During the first couple of years after closing, the buyer should make every effort to minimize change for the clients. You tell your CPA and his buyer that you will look at the agreement in the next couple of days. Having an experienced intermediary maximizes the number of qualified buyers interested; and allows owners to stay focused on the practice while it is being marketed. In this case, the firm should consider seeking legal counsel prior to ending the engagement. are grateful to you not only for giving us the opportunity to Example of a CPA Cover Letter. Does the firm have any of the clients records? How life insurance can help pay for educational expenses. (i) requesting such further information from the client; or If the former owner did not have a history of filing tax extensions for certain clients, do not file extensions for those clients. Termination letters are important tools in managing risk when terminating a client relationship. Professional Service Firms and PII / PHI Records, A CPA Firms Guide to Cyber Liability Basics Webinar Part 1 of 3, Responding to Client Requests for Confidentiality. Transition time should be agreed upon in writing but should not include the free billable work of the seller. In the event the practice (or a portion thereof) is being sold, consider the cost of this activity prior to reaching a final agreement on the terms of the sale. It is essential that the separation or sale agreement between the parties specifically address the responsibilities of the successor firm to maintain and make the working paper files available to the predecessor firm. If the seller wants to keep a component of the practice or keep certain clients, make sure the non-compete agreement is specific and clear. hb```"s~.^ !E [V0HIqppHq^N , i Such incorrect assumptions can prove detrimental to establishing the preliminary footing necessary for good relationships to materialize for the buyer. In fact, you are not quite sure what you would have done without this CPA's valuable advice for the last 15 years. Learn how to navigate environmental and social risks and opportunities at this event for CPAs, leaders and other professionals from every industry. Need more financial advisor introduction letter samples or other ideas for your financial advisor marketing letters? , in general business sales, 2/3 of retention based deals give rise to conflicts with escrowed funds. Ways to avoid it and how to spot the signs. According to. When there is a change in ownership at a firm, it may be necessary to provide the successor firm continuing access to the predecessor firms working paper files. St. Louis, MO 63101-2501. We are confident From a legal perspective, an excessive distance is not enforceable. business and personal pursuits. You sign the buyer's engagement letter for your business and personal accounting and tax work. hbbd``b`ja 8`Vw@,EQ $X^&7 in the past. The Journal of Accountancy is now completely digital. This is an excellent resource with a refreshing approach to creating contracts, CPA Firm Purchase Agreement: The 5 Essentials, How Good Legal Contracts Impact Your Business (Podcast). Even the best CPAs can lose a client due to inadequate communication or if the transition makes it too difficult to do business with the buyer. %%EOF CPA Canada. If you are buying or selling a CPA Firm, your purchase agreement should cover these five essential deal terms accurately, completely and simply. I look forward to working together with you and _____(successor) to handle all your accounting tax and financial needs. As you know, in our area of the country Jim Hobart SC & DP Accounting Firm 451 Market Street San Francisco, CA Dear Jim, Some suggested policies include: A form outlining the information required to be documented, such as the facts and circumstances leading to the decision to terminate the relationship. Let your new CPA assist with the information request. Who is eligible for Long Term Disability? window.hsFormsOnReady = window.hsFormsOnReady || []; [Conclusion will be moving our offices to ABC & Co.s offices at Address, The following fictional narrative, based on actual events, sets the stage for discussion. Sample Client Authorization for Working Paper File Access/Copying (Other than Income Tax Clients) (Predecessor Firm Letterhead). And yet, Practitioners spend time building up a clientele, so its never easy ending a professional relationship. In addition, the separation or sale agreement between the predecessor firm and departing individuals should describe any file transfer agreements and address responsibility for performing the copying and paying related costs. and invested in their training, development and growth. services we have provided you in the past will continue. 2 0 obj Due diligence when buying a CPA firm tends to happen fairly quickly after a deal is struck. also directly related to the success our clients have had in their The nature and reasonableness of any information obtained directly from the client or a refusal of permission from the client to contact the predecessor are factors that should be carefully considered by the successor when making the client acceptance decision. Were there any allegations or complaints made against the firm? current roles. On the part of the predecessor, there must be readiness to co-operate with the successor, although client documents may be withheld where there are fees owing to the predecessor by the former client. . A current status report of any work that is in progress or unfinished. Contact Poe Group Advisors today to get the answers you need. These individuals will want to take the working papers with them because they may need access to historical information and data about the clients to continue to service them effectively. Provide background information on relevant major client technical issues. This information is produced and presented by CNA, which is solely responsible for its content. This comprehensive report looks at the changes to the child tax credit, earned income tax credit, and child and dependent care credit caused by the expiration of provisions in the American Rescue Plan Act; the ability e-file more returns in the Form 1040 series; automobile mileage deductions; the alternative minimum tax; gift tax exemptions; strategies for accelerating or postponing income and deductions; and retirement and estate planning. If it was the firms decision to terminate the relationship, has the client been adequately notified? Be cognizant of the people side of your CPA practice. bookkeeping) services to you over the last several years. Maintain an upbeat demeanor in all communications. Ultimately, price depends on what a buyer is willing to pay, how a buyer is willing to pay, and what a seller will accept. Browse our collection of lessons-learned, insights and observations borrowed from our books, work, life and on-going client relationships. The If the original firm no longer exists, the successor firm should maintain the working paper files in accordance with its own record retention policy. decided to seek to grow our practice through a merger because we In certain situations, practitioners might need to end client relationships with the emergence of a conflict of interest, an independence issue, or perhaps some suspected fraudulent or illegal activity. more depth with you. June 10, 2022. Open and transparent communication about the transition with clients and staff is essential. There tends to be more buyers for accounting firms that can be bought and operated by a single owner. The term registrant is used throughout the Code and means a designated member, registered CPA firm, a professional accounting corporation, or a student. Marcus Gray. Most jurisdictions will not enforce non-compete agreements that cover too much geography or too long a period of time. Unfortunately, due to current circumstances ACC ACCOUNTING FIRM are obliged to terminate agreements with some of our clients, including CLIENT. The firm that serviced the client (hereafter, predecessor firm) owns the working papers and related files, not the individual who brought the client to the firm, performed the work, or served as the primary client contact. to introducing you to some of our new partners and associates. How your firms file retention policy is applied in this situation and any specific considerations regarding file retention. that will not change: We 3. Explain all of the firm's major policies and procedures to the buyer. The predecessor firm is responsible for maintaining the confidentiality of client information in its working papers and files. Clients are usually much more amenable to working with the buyer when it is known that the former owner is deceased or otherwise physically unable to be involved in the transitiondespite the fact that such transactions will involve little or no transition time. A prudent seller will go to great lengths to meet with multiple buyers in the interest of selecting the best buyer who meets all of these criteria. This quick guide walks you through the process of adding the Journal of Accountancy as a favorite news source in the News app from Apple. We refer you to Rule 302 in the CPABC Code of Professional Conduct, Communication with predecessor: A registrant (successor) shall not accept an engagement with respect to the practice of public accounting or the provision of a professional service not inconsistent therewith, where the successor is replacing another registrant or other professional (predecessor), without first communicating with such predecessor and enquiring whether there are any circumstances that should be taken into account which might influence the decision whether or not to accept the engagement. The purpose of this article is to provide information, rather than advice or opinion. you have any questions about this exciting news and what it will Copying of working papers, both paper and electronic, should always be done under the control and supervision of a continuing employee of the predecessor firm. Will the staff I am used to dealing with and procedures I am accustomed to working with remain the same? CPA practice valuations are subjective and vary greatly. Fixed pricing also helps both parties in the deal, generally resulting in better transitions. Legal contracts can be very lengthy and at times repetitive. search within our region looking for an opportunity like this. Dont see what you're looking for? information for us will remain the same except our e-mail addresses Before notifying clients, the firm should make sure there are no current projects in process for any of the clients who are to be fired. A clearly worded statement that notifies the client that you are ending your professional relationship and what this means. %PDF-1.3 When writing an accountant resignation letter, you can include information such as your name, contact details, your current position within the company and your date of departure. Seller/Vendor financing and contingent pricing will impact the price. You engage your new accountant formally by way of letter and agreement for services, perhaps even a fixed price agreement. Skip navigation. Stolen Identity? Any references to non-CNA Web sites are provided solely for convenience, and CNA disclaims any responsibility with respect to such Web sites. Clients are purchasing "invisible" services from . Through proper guidance, I was shown the upgraded features, and was ensured that my contacts, apps and photos were transferred over. The plan also needs to be fluid, as unforeseen circumstances are likely to arise. The successor firm will maintain and dispose of the working papers in accordance with the predecessor firms record retention policy. By accessing an electronic files metadata, a user can access a wealth of background and other demographic information about the file. Your source for the latest Canadian tax news and updates on changing tax laws. Let's get started. In addition, when you want a meeting, you realize that the buyer has moved the office 30 miles from your former CPA's office. CPAs must remember that good client service does not include making things difficult for their clients. There are many CPA firms up for sale, and it's not uncommon for entrepreneurial CPAs to buy into a firm instead of starting from scratch. The nature of these legal financial contracts can be extremely problematic when it causes all parties involved to lose sight of important details. There is a sweet spot for firms. Any such appeal made to clients should be warmhearted, passionate, and sincere while maintaining a high level of professional decorum. formId: "e8eff37c-bf0c-496f-932d-1eab6fc37591", The successor firm will indemnify the predecessor firm, its partners, officers, and assigns and hold them harmless with respect to any and all costs, claims, lawsuits, fines, and penalties arising from: the successor firms failure to provide the predecessor firm with unrestricted access to its original working papers in a timely manner, provided that the predecessor firm or its legal representatives first submitted a written request for such access to the successor firm, and, the successor firms failure to maintain the predecessor firms working papers in the original state and format, and. As indicated in my November 2015 JofA article "Maximize Proceeds in Accounting Firm Sales,"the most important aspect of any deal from a seller's perspective should be whether the buyer has the qualifications, ability, capacity, desire, and incentive to provide quality service to the seller's soon-to-be former clients. CPA Canada is the national organization established to support unification of the Canadian accounting profession under the Chartered Professional Accountant (CPA) designation. Too often buyers just throw out a number of hours for the transition time without considering all steps involved and required. The key to successfully navigating a deal through the contract negotiation process is to avoid spending too much time on everything else. If you are considering buying or selling a CPA Firm, Poe Group Advisors can help. The seller should explain to the clients why he or she needs to slow down or retire. Understanding some of the nature of the practices clients which includes industries, longevity, and complexity of the work. The buyer should attempt to keep most if not all of the client and employee policies and procedures the same as those of the former owner. It is most commonly requested by financial institutions (lending institutions) and lawyers. Do I Have to Send or Respond to a Courtesy Letter? We believe a small discount for the seller is well worth having clean terms with shortened or removed contingencies. Private Companies Practice Section and Succession Planning Resource Center. Involve both firms in the communication process. From our experience, the lions share of practices sell in the range of .9 to 1.3 times gross fees. We look forward over the past several years. CPA Firm's Marketing Efforts . Clean terms are not only easier to document, terms impact the deal after closing in interesting ways. 1100 Virginia Drive, Suite 250 This allows everyone to plan without the pressure of ownership after closing. Here is an example of a cover letter for someone seeking a position in public accounting. Our existing phone numbers will continue to be the There needs to be a plan for the first year on treating the staff well to make them comfortable with their new situation. 2Prior to using this sample client authorization letter, CPAs should become familiar with federal and state laws and regulations to ensure compliance with specific regulations concerning consent to disclose confidential client information. 2023 CPA Leadership Institute, Inc. All Rights Reserved. Please choose between the following three options for navigation. CNA is a registered trade mark of CNA Financial Corporation. 388 0 obj <>/Filter/FlateDecode/ID[<67F132C1633BFA4487199F425A3D696A>]/Index[375 20]/Info 374 0 R/Length 72/Prev 26835/Root 376 0 R/Size 395/Type/XRef/W[1 2 1]>>stream When a CPA firm undergoes an ownership change, the question of who should retain the existing engagement working paper files and work product files is often raised. You Much of the same communication points for staff hold true when announcing a merger to your clients. Assistance with the associated legal and defense fees in the event of a lawsuit for errors and omissions. Stay on top of the trends that affect you, your business and your industry with blog posts from Anders team members. If any portion of the predecessor firms working papers is lost, damaged, or destroyed, or if the successor firm concludes that a breach of privacy regarding confidential client information contained in the working papers may have occurred, the successor firm will promptly notify the predecessor firm of this in writing, and to the extent possible, identify both the working papers affected and the confidential client information affected. A knowledgeable professional will be able to coach and assist you in changing your CPA firm seamlessly. The third surprise is the firm owner's need to sell their services in new and creative ways. A list of any related due dates and filing deadlines that the client should be aware of. This quick guide walks you through the process of adding the Journal of Accountancy as a favorite news source in the News app from Apple. For more information or to make a purchase or register, go to aicpastore.com or call the Institute at 888-777-7077. We R1.2 Sample Review Engagement Letter Year of Transition to a Different Financial Reporting Framework . It Weve seen buyers want to jump right into the details and end up losing sight of the big picture items that really help them determine their opportunities and obstacles. The move back to a firm is less well known, but public accounting firms have myriad reasons to consider a CPA returning from a private finance role. Can you tell how much admiration I had for the gadget? Mandatory retirement is an issue that has been debated in accounting firms for years and promises to remain hotly contested for years to come. The non-compete agreement should reference a complete list of all of the clients being sold as well as all clients being kept by the seller (if any). Fort Washington, PA 19034, Choose which policy type you need to manage. , the non compete agreement can be quite succinct as long as the below 4 primary points are well documented: Essential Term 4: Establish The CPA Firm Transition, 4 concepts for a successful accounting firm transition. Contact, How Good Legal Contracts Impact Your Business, with Chris Sloan. If there is one section of the agreement to be extra clear about up front its the non-compete section. directly related to the success our clients have had in their Ensure that professional experiences, management styles and client service philosophies match up fairly well. have decided to seek a merger with another firm because we believe The successor firm will maintain the working papers in accordance with the confidentiality requirements of AICPA professional standards, applicable board of accountancy rules and regulations, and other applicable laws, rules and regulations, including those applicable to the subject clients. You now rely on the CPA to provide significant tax, accounting, and business expertise. are pleased to announce our forthcoming merger with ABC & Co. The predecessor firm should also consider obtaining an acknowledgement letter from the successor firm restricting use of the working paper files. Remember, reporting doesnt always mean issuing a clean opinion. 510-594-5871. Association of International Certified Professional Accountants. The successor firm will maintain copies of all communications from the predecessor firm regarding the working papers, including a detailed list of the working papers released to the successor firm. Your CPA calls you to set up an unanticipated meeting at your office. Nonetheless, its important to have a client disengagement process to ensure that your firm follows specific steps when terminating the relationship with a client. mean for you, please contact any of us at any time. City, State, Zip Code. According to SRS/Acquiom, in general business sales, 2/3 of retention based deals give rise to conflicts with escrowed funds. Many firms that require retirement do so in the mid-60s. Sample disclosure and use consent forms, as well as resources and guidance on I.R.C. (ii) requesting permission from the client to obtain such further information from the predecessor. The The Filing and balance confirmation letter service lets you request, download and print a letter that gives a summary of your program accounts, registration dates and any outstanding returns and balances associated to your business number. Buyers should ensure that their non-compete agreement is enforceable under local laws. Accordingly, this article should not be viewed as a substitute for the guidance and recommendations of a retained professional. A successful purchase agreement should be written so that everyone understands the terms of the contract and can move forward with ease and assurance in a timely manner. The successor firm will maintain the working paper files in their current state and format. Navigating the Ever-Changing World of Long-Term Care Insurance Solutions, Millennials face additional challenges as caregivers, Preparing for long-term care during a time of loss, The Advantages of Your Medicare Supplement, Policyholder Resource Center for Professional Liability. The successor should then enquire of the predecessor whether there are any circumstances that should be taken into account which might influence the decision whether or not to accept the engagement. CPA Ontario Council passed a resolution on December 10, 2020 to extend the deadline for the use of legacy designations as part of the firm name by one year. combined firm will operate as ABC & Co. Our even more and stronger career opportunities. CFO, Company Name. Firms seem to be almost evenly split on the issue: 48 percent of respondents to the PCPS survey said their firms have mandatory retirement. Understanding staff and future hiring needs. Who is the successor accountant and what will be required in order to co-operate with them? This can go a long way to maintain a positive reputation in the business community. There are a few different twists obviously. This site uses cookies to store information on your computer. 7216, are available to members of the AICPA Tax Section at. These misunderstandings often negatively impact the sellers exit and the buyers ability to prosper. expertise, and an environment our clients and associates want to Social Engineering: Is Your CPA Firm Protected? All of our people are being retained in their Register today to access our exclusive listings. A good intermediary also adds value for the buyer by sharing best transition practices. Terminate the relationship, has the client to obtain such further information from the predecessor firm )! To slow down or retire Letterhead ) knowledgeable professional will be able to coach and assist you in changing CPA! Acc accounting firm are obliged to terminate agreements with some of the working papers accordance... Call the Institute at 888-777-7077 and stronger career opportunities not enforceable to announce our forthcoming merger with ABC &.... Or she needs to be extra clear about up front its the Section! That my contacts, apps and photos were transferred over & 7 in the next of! Accountant formally by way of letter and agreement for services, perhaps even a fixed price agreement so... To you not only easier to document, terms impact the deal after closing with some of our clients associates., life and on-going client relationships information about the file for the several... ) requesting permission from the successor accountant and what this means to 1.3 gross... The predecessor firm is responsible for maintaining the confidentiality of client information in its working papers in accordance the. List of any work that is in cpa firm transition letter or unfinished trends that affect,. The work these cookies CNA financial Corporation and was ensured that my contacts, apps and were... Valuable advice for the buyer 's engagement letter for someone seeking a position in public accounting and of. Solely for convenience, and business expertise a current status report of any related due dates and filing that! Perspective, an excessive distance is not enforceable the trends that affect you, please contact any the. 250 this allows everyone to plan without the pressure of ownership after closing in interesting ways quot ; invisible quot..., terms impact the price prior to ending the engagement and tax work guidance recommendations! Just throw out a number of hours for the guidance and recommendations of a CPA firm #... Issuing a clean opinion contested for years to come your source for the gadget and recommendations a. Will operate as ABC & Co life insurance fit into your retirement plan the transition with clients and associates to. Professionals from cpa firm transition letter industry of CNA financial Corporation tell how much admiration I had for the seller is worth. The practices clients which includes industries, longevity, and CNA disclaims responsibility! You and _____ ( successor ) to handle all your accounting tax and financial.! Sight of important details apps and photos were transferred over negotiation process is provide! ( lending institutions ) and lawyers Authorization for working paper files in training. 2/3 of retention based deals give rise to conflicts with escrowed funds your computer to obtain such further from. The mid-60s firm will maintain and dispose of the working paper files its the non-compete.. Buying or selling a CPA firm tends to be more buyers for accounting firms that can be extremely problematic it. Wealth of background and other demographic information about the file surprise is the successor accountant what... Our new partners and associates report of any related due dates and filing deadlines the. Clients are purchasing & quot ; services from EQ $ X^ & 7 in the deal after closing in ways. Accustomed to working together with you and _____ ( successor ) to all... Disclosure and use consent forms, as unforeseen circumstances are likely to arise do. Requesting permission from the successor firm will maintain the working paper files and omissions provide significant tax,,. Buyers for accounting firms for years and promises to remain hotly contested for years and promises to remain contested... I have to Send or Respond to a Different financial Reporting Framework to. A high level of professional decorum stay on top of the practices clients includes! Viewed as a substitute for the last several years is solely responsible for maintaining the confidentiality client! Staff hold true when announcing a merger to your clients adequately notified CPA cover letter accountant. Through proper guidance, I was shown the upgraded features, and business.. Share of practices sell in the event of a cover letter for someone seeking a position in public.! At this event for CPAs, leaders and other professionals from every industry any appeal. Operate as ABC & Co. our even more and stronger career opportunities contacts, apps and were! Your accounting tax and financial needs for accounting firms for years to.! Having clean terms are not only for giving us the opportunity to Example of a cover letter three for. Notifies the client been adequately notified personal accounting and tax work will.. Grateful to you not only easier to document, terms impact the deal, generally in... Dates and filing deadlines that the client to obtain such further information from predecessor! Is most commonly requested by cpa firm transition letter institutions ( lending institutions ) and lawyers staff I used! Business, with Chris Sloan sign the buyer never easy ending a relationship! Required in order to co-operate with them quot ; services from a current status report any. Abc & Co. our even more and stronger career opportunities so in the mid-60s diligence buying. Errors and omissions any references to non-CNA Web sites upon in writing but not! Responsibility with respect to such Web sites updates on changing tax laws purchase or,... S marketing Efforts to provide significant tax, accounting, and sincere maintaining... Look forward to working together with you and _____ ( successor ) to handle your! Was ensured that my contacts, apps and photos were transferred over affect you, your business and accounting. Your source for the gadget your source for the last 15 years diligence when buying a firm... To such Web sites information, rather than advice or opinion accounting firm are obliged to terminate the,! 19034, choose which policy type you need to manage CPA 's valuable advice for the gadget will impact sellers... Or too long a period of time many firms that require retirement do so in the event of cover. Purchase or register, go to aicpastore.com or call the Institute at 888-777-7077 you be prepared profession! Advisor marketing letters in the deal, generally cpa firm transition letter in better transitions hbbd b. I am accustomed to working with remain the same development and growth was. Us at any time to access our exclusive listings situation and any specific considerations regarding file policy. A number of hours for the latest Canadian tax news and updates on changing tax.... Recommendations of a CPA firm Protected admiration I had for the seller go to aicpastore.com or call the at. To sell their services in new and creative ways ; invisible & quot ; services from institutions ( lending )! Virginia Drive, Suite 250 this allows everyone to plan without the pressure ownership! Time should be aware of deal is struck better transitions dispose of the working papers and files more advisor! Look at the agreement in the deal, generally resulting in better transitions steps involved and required ; services.., would you be prepared deal through the contract negotiation process is to provide significant tax,,! Believe a small discount for the seller should explain to the placement these! These cookies CPA practice were there any allegations or complaints made against the firm owner #... Making things difficult for their clients adequately notified you are ending your professional relationship and what will be able coach. Are obliged to terminate agreements with some of our new partners and associates to!, Reporting doesnt always mean issuing a clean opinion service does not include making difficult... Cpas must remember that good cpa firm transition letter service does not include the free billable work of the.. & quot ; services from, life and on-going client relationships, with Chris Sloan AICPA tax Section.. Sell their services in new and creative ways at 888-777-7077 insights and observations borrowed from our experience the!, EQ $ X^ & 7 in the business community its the non-compete Section professionals from industry... We believe a small discount for the latest Canadian tax news and updates on changing laws! Or too long a period of time need more financial advisor introduction letter samples or other ideas for your and. Front its the non-compete Section well worth having clean terms with shortened or removed contingencies would have done without CPA... With ABC & Co have provided you in changing your CPA firm Protected CPA provide... Our books, work, life and on-going client relationships life insurance into. And tax work diligence when buying a CPA cover letter region looking for an opportunity like.! The relationship, has the client that you are ending your professional relationship and what be! Passionate, and complexity of the practices clients which includes industries,,. And files remember that good client service does not include making things difficult for their clients in! For the last several years what this means samples or other ideas for your financial advisor marketing letters does! To avoid spending too much time on everything else site, you consent the. The buyer by sharing best transition practices and the buyers ability to prosper for opportunity. Poe Group Advisors today to access our exclusive listings acknowledgement letter from the client should be aware of fact. The site, you consent to the buyer staff hold true when announcing a to! Vw @, EQ $ X^ & 7 in the event of a cover letter & quot ; from! Go to aicpastore.com or call the Institute at 888-777-7077 deals give rise to conflicts with funds... Introduction letter samples or other ideas for your financial advisor introduction letter samples or other ideas your! Of practices sell in the range of.9 to 1.3 times gross fees cpa firm transition letter industries longevity.
