The International Federation of Accountants (IFAC) published the fourth edition of the Guide to Practice Management for Small- and Medium-Sized Practices, Fourth Edition, available free of charge on IFAC’s website.
First realised by IFAC in 2010, the guide intends to provide detailed guidance to help SMPs operate more efficiently in the increasingly complex and competitive global economic environment. The new edition is structured into eight standalone modules addressing a wide range of topics, such as strategic planning, staff management, client relationships, risk management and succession planning.
The guide also addresses the fundamental changes brought by technological changes in the way organizations operate, highlighting the importance of how SMPs must adapt to service their clients utilizing technology and providing guidance regarding the existing options, technology risks, and use of technology for practice innovation.
