Practice Tips - partnership accountability

Editorial team
AccountingWEB.co.uk
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It's my guess that very few accountants are in practice just for the love of it. They work for money. And there's no shock in that.

It's also true that most practicing accountants do not, at least at some point in their career, work by themselves. They commonly set up businesses with other professional people, and most commonly with other accountants, whether it be as partners, co-directors of a limited company, or whatever.

In my experience partnership is the most complex working arrangement anyone can enter into. It's also in many ways the least accountable. The two issues are related of course. And they are so wide that I certainly could not cover all the issues that arise in one comment. What worries me though is much of what is written concentrates on the first issue, and little on the...

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