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As the accounting profession evolves, so must the leadership strategies employed by CPAs to foster collaboration, maintain productivity and ensure the well-being of their teams. Hybrid teams have become a necessity to adapt to evolving demands.

The U.S. Department of Labor (DOL) is on the verge of finalizing a proposal that will make more of your employees eligible for overtime (OT) premiums or require salary increases for a significant number of management employees.This rule impacts CPAs both as employers and as trusted advisors.

A one-size-fits-all leadership guide to succession planning does not exist. But whichever path we take, it must have trust, communication and respect for the individuals we hope to lead at its core.

By investing in mentorship, leadership training, planning strategies and a commitment to retaining expertise, we collectively shape a bright and enduring future for the CPA profession.

Private equity can be a powerful tool in succession planning. Understanding the nuances of private equity will help position businesses and their CPAs for a successful transition, ensuring their legacy continues to thrive in the new business era.