IFAC resources & guidance

Guide to Practice Management for Small- and Medium-Sized Practices Fourth Edition (the Guide). This updated publication will help SMPs improve their management and operational efficiency and support their sustainability and success.

Now its fourth edition, the Guide is organised into eight stand-alone modules, including a new module on “leveraging technology”.

In order to help member organisations and practices maximise the Guide’s use, IFAC has updated the Companion Manual which provides suggestions on making best use of the Guide.

G-20 Public Trust in TaxThis report details the results of new study that surveyed citizens across the G-20 on issues of trust and international taxation. Prepared by the Association of Chartered Certified Accountants, Chartered Accountants Australia and New Zealand, and IFAC, the study draws on the views of more than 7,600 people across G-20 countries.

Good Practice Checklist for Small Business. This checklist is meant primarily for SMPs, as a marketing or diagnostic tool to help them determine the advice a small business client may need, and also to help them in managing their own businesses.

This updated second edition of this multi-part checklist contains a new standalone section on environmental management. Other sections include financial tasks, strategic management tasks, and regulatory requirements, among other areas. 

Guide to Practice Management for Small- and Medium-Sized Practices. This provides guidance to small- and medium-sized practices on how to better manage their practice and ultimately operate in a safe, profitable, and professional manner. 

The publication includes practice management principles and best practices on a comprehensive range of topics, including strategic planning, managing staff, client relationship management, and succession planning. It features case studies to illustrate the concepts, checklists and forms, a list of further readings, and modules that may be used for training and education.

The Relationship between Accountancy Expertise and Business Performance: Key Findings. The report summarises and discusses the findings of more than 90 academic research papers on the relationship between accessing accountancy expertise and business performance to gain insight.

2016 IFAC Global SMP Survey Report & Summary. The survey asked practitioners operating in SMPs a number of questions about the challenges they face, the market factors most likely to affect them in the future, the consulting services they provide, and their performance, both in 2016 and projected for the year ahead.

In addition, respondents were asked about their SME clients, including questions around the challenges they face and the extent of their engagement in international activities. The report includes a summary of overall insights and notable highlights by region and size of practice. 

The Role of SMPs in Greening Small BusinessThis article presents the rationale for small businesses to improve their environmental performance and highlights the role that SMPs have in this emerging area of business advisory services.

How to Build Your Business Advisory PracticeThis article examines the business case for SMPs to develop a business advisory practice and offers tips for getting started.

How to Make Your Small Practice a Big Success: Practice Management Tips for SMPsThis article features seven practice management tips for SMPs and highlights a number of relevant resources that are available to download for free from the IFAC website.

The Role of Small and Medium Practices in Providing Business Support to Small- and Medium-sized EnterprisesThis paper analyses the literature and evidence base on the role of accounting practices, and in particular SMPs in providing business support to SMEs.

The Role of SMPs in Providing Business Support to SMEs—New EvidenceThis report examines: the key drivers of the advisor-client relationship; the demand for—and supply of—SMP business advisory services; and the growth implications for SMPs, as well as how professional accountancy organisations (PAOs) around the world can support them. 

Business advisory video series

These videos feature interviews with SMP Committee Members Florin Toma, CPA, Romania, and Stuart Black, FCA, Australia. View all on the IFAC YouTube Channel

What do you think is the key to your practice's success in business advisory?

How do you market and position your business advisory services to clients?

Looking ahead, in what areas of business advisory do you see the most potential for growth?

What is the biggest challenge your practice has faced in building its advisory work? 

How did your small practice develop the capacity to provide high-quality business advice?