Tell us what you think about the Guide to Practice Management for SMPs

  • Tell us what you think about the Guide to Practice Management for SMPs


    2 Messages | Views

    In December 2012 the SMP Committee issued the third edition of its Guide to Practice Management for Small- and Medium-Sized Practices, which provides guidance to SMPs on how to more proficiently manage their practice on a comprehensive range of topics, including strategic planning, managing staff, client relationship management, and succession planning. It is supplemented with other free resources and tools (see Practice Management).

    We are committed to updating the Guide on a regular basis to ensure it reflects current best practice and is as useful as possible. We welcome comments from IFAC member bodies, practitioners, and others. In particular, we welcome views on the following questions.

    1. How do you use the Guide? For example, do you use it as a basis for training and/or as a practical reference guide, or in some other way?
    2. Do you believe that the Guide has appropriately included all of the relevant aspects of practice management? If not, which elements would you suggest be added to or deleted from the Guide? (For example, is the guidance on IT sufficiently up to date, and is there sufficient material on building the capacity to offer business advisory services?)
    3. Do you consider the Guide’s contents to be sufficiently tailored to the key practice management issues faced by small- and medium-sized practices?
    4. Do you find the Guide easy to navigate? If not, can you suggest how navigation can be improved? (for example, include hyperlinked table of contents for each module)
    5. What other references, further readings, and resources do you suggest be included? Please be as specific as possible.
    6. In what other ways do you think the Guide can be made more useful? (for example, the inclusion of more forms and checklists)
    7. Are you aware of any derivative products—such as training materials, forms, checklists, and programs—that have been developed based on the Guide? If so, please provide details.

    To help us as we subsequent editions, please post your comments here and/or submit them to Paul Thompson, Deputy Director, SME and SMP Affairs



    I useit as a basis for

    I useit as a basis for training.
    It does not incorporate all the necessary requiements.


    2012-03-07 | celestine aniche
    Comment on the Practice Management Guide ("Guide")

    Dear Paul,
    Trained and qualified as Public Accountant myself, I read with great interest in the past 2 days and the excitement keeps growing because the Guide was very comprehensive and meticulous yet very realistic. Well done and congratulations to IFAC.
    Though I am in commercial sector, the Guide is very relevant in my line of duty and just to share my thoughts on 4.6.6b.
    One of my main tasks is to turnaround each employee into a high and productive performer and in the last 2 years, they showed great improvement despite lack of financial incentives over the years before my term. The deserved employees are promptly rewarded with mid year increment and promotions as well and everyone are upbeat. But behind the scene, they have not shed their old habitual perceptions and negative personalities. A lot of gossips and accusations around and I have no to deal with the matter more direct (when their standard is not up to speed) which means the issue of personality was touched upon ie incompetent and lack of initiatives
    I find them voluntary leaving and in my opinion, the organization can improve further with "old" employees gone.
    The question now is no matter how much effort and level of integrity I put in, along with coaching and motivation tagged with recognition awarded, they always perceive negatively the managemetn's intention. This is probably due to their not so ideal upbringing but the root cause, linivng in denial. Unless they are open minded and receptive to change and improvement, I am still searching for altenatives to help them. Still are as of to-date and I almost believe that nothing can be done.
    These are employees who have worked for 20-30 years and the younger "supporters" who merely seek peer approval to avoid redicule who don't speak their mind either.
    The Directors appear to believe in them have now reduce the support and authority they have delegated to me earlier despite positive results and performance seen.
    I remain professional throughout with my self-awareness and self-regulated skills I have gained in last 20 years esperience.
    Ideally, they have to be given the formal counselling and unless they changed in specified period, we have to ask them to leave while improveing our recruitment process. Easier said than done, but this is less likely to happen here. Sad but true.
    Am grateful to IFAC for providing avenue for me to share my views and many thanks for your time.

    Thanks and warm regards,
    Raymond Ng

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