Succession planning for public practice – micro course

Learners will explore the various areas they need to consider, document, and/or address in their succession plan. You might provide advice for your clients, but how often do you take the time to consider and update your own succession plan?

Having an up-to-date succession plan for your practice is an essential part of your risk management plan. Not only does it provide for an orderly transition when you decide to retire or move on from the practice, but it also provides an important fallback position should something unexpected happen to you or one of your partners.

This micro course emphasises the importance of succession planning and provides a structured approach to help you create or update yours. The resources and activities in this course are tailored for you, the public practitioner.

Benefits

Key benefits of attending this micro course include:

• Create a succession plan for your practice that is fit for purpose
• Enable the practice to keep running in the event that a partner/practitioner leaves or is otherwise incapacitated
• In Australia, ensure compliance with APES 325.

Learning outcomes

By completing this micro course, you’ll be able to:

• Recognise the importance of succession planning for public practices
• Analyse the essential financial, client, operational, and people inputs needed for a succession plan
• Evaluate different exit options for your practice
• Create a succession plan for your practice