Guide to Practice Management for SMPs
The Guide to Practice Management for Small and Medium-sized Practices (SMPs) is written by the International Federation of Accountants (IFAC) and aims to assist practices in operating in a safe, profitable and professional manner. It is intended to improve the management and operational efficiency of SMPs with practical guidance for those engaged in managing practices to enable them to run more sustainable and successful practices.
While the primary user is likely to be those managing the practice, senior professional staff or those starting out on their own, some of the content may also be useful as an introduction to practice for new or junior staff.
The guide provides practical guidance across a whole range of diverse topics, both strategic and operational in nature, including:
- Planning for your firm
- Practice models, associations and networks
- Building and growing your firm
- People power: developing a people strategy
- Leveraging technology
- Client relationship management
- Risk management
- Succession planning
Each topic is designed as a standalone module, therefore practices can pick and choose those of most relevance to them. Each module illustrates how to apply the theoretical concepts, implement change and monitor progress including case studies and checklists.
Access the modules here
