Mastering Accounting Firm Governance with Jeremy Clopton: Success Strategies for CPAs - Accounting Voices Podcast

Episode 66

Governance Best Practice for Successful Accounting Firms

Published on: 6th May, 2024

Jeremy Clopton is a governance and leadership expert who works extensively with accounting firms.

Jeremy and Rob delve into the critical topic of governance best practices for successful accounting firms. Jeremy emphasizes the importance of separating governance (strategic decision-making) from operations (day-to-day management). He shares insights on streamlining decision-making processes, delegating authority, and fostering effective communication within partner groups.

Clopton's insights shed light on the common challenges firms face as they grow, including the need for partners to relinquish autonomy and embrace a more structured, business-like approach to governance.

He stresses the importance of clearly defining decision-making authority at different levels within the firm and ensuring that partners understand and buy into the governance model.

Key Takeaways:

  • Differentiate between governance (strategic decisions) and operations (day-to-day management)
  • Clearly define decision-making authority at partner, management committee, and managing partner levels
  • Foster effective communication to keep partners informed and engaged
  • Embrace a business-like approach to governance while maintaining a people-focused culture
  • Align partner compensation with desired behaviors and contributions to firm success

"You can either be running your firm like a business, or you can be running it as nine different firms that all sit under the same roof."

View this episode in video on YouTube here: https://youtu.be/QYUCukwNwQs

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About the Podcast

Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.
Accounting Voices, hosted by Rob Brown, helps decision makers and leaders in accounting and finance stay relevant, visible and vocal in a profession being reshaped by technology, private equity, regulation and shifting client expectations. Each episode interprets the trends disrupting accounting and finance such as AI, automation, M&A, talent and the move to advisory and translates them into practical insight that strengthens authority and influence.
Accounting Voices is also a platform for the wider ecosystem of networks, associations, educators, consultants, software vendors and technology experts who serve accountants and finance professionals worldwide. It extends into regular Accounting Voices networking sessions that connect this audience and amplify ideas that move the profession forward. With its international reach and long shelf life the show delivers credibility and commercial value for listeners and sponsors alike. Search for "Accounting Voices" on YouTube for all episodes and connect with Rob Brown on LinkedIn to find out more: https://www.linkedin.com/in/therobbrown

About your host

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Rob Brown

ob Brown is the creator and host of the Accounting Voices Network, a media platform that includes the flagship solo podcast Accounting Voices and the panel shows Accounting M&A and Accounting Tech. He chairs conferences, panels and virtual events worldwide and is recognised as a leading advocate for the accounting profession.

He is an accomplished speaker and authority on trust, reputation, employer brand, talent, succession, executive presence and the forces shaping the future of accounting. Rob is the author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk The Personal Brand of You has been viewed more than 400,000 times.

A former co-founder of the Accounting Influencers Roundtable, Rob now focuses on amplifying the voices of leaders, firms, networks, vendors and influencers across the global accounting ecosystem.

Outside of work he is a stroke survivor, lives with epilepsy, holds a black belt in kickboxing and is based in Nottingham, UK. He plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.