 |
|
Why Succession Planning is a MUST
|
|
Much of the work we do here at Mathieson, Moyski, Austin & Co. is for business owners and organizations. Whether you own a business or work within one, building a pipeline of talent is critical to any organization's future. That's why succession planning is a must for any company that wants to build a strong team and a legacy.
No one knows this better than
Brian Eisenmenger, CPA. A graduate of Eastern Illinois University, Brian went on to earn his master of taxation degree at Northern Illinois University and launched his own practice in 2001. He was active on the board of the
Wheaton Chamber of Commerce and a teacher for other accounting professionals through Thomson Reuters. Brian ran marathons and enjoyed building his practice and his network. Then in 2010 he learned he had stage IV lung cancer and his world changed.
|
"Whether we like it or not, life has a way of getting in the way of business," Brian wrote in a recent column in the Daily Herald Business Ledger in their "Focus on Accounting" issue. "I wasn't ever going to get sick--I had run six marathons, for crying out loud!" he wrote. "The thing I hadn't done was protect my biggest asset--my business."
Here are a few of the things Brian recommends for business owners and leaders who need to consider succession planning in order to build legacies for the future:
|
- Make sure you link your long-term vision with the values of the organization as well as the needs and interests of the senior leaders.
- Analyze gaps you might have between current resources you have and the talent you think you'll need.
- Create a talent "ladder" to move people along as they develop their skills.
- Develop strategies for recruitment, retention and ongoing learning and development, including coaching and mentoring.
- Link succession planning to any human resource processes that are in place, including performance management, compensation and workforce planning.
This story has a happy outcome: Brian joined forces with MMA & Co. in 2015, bringing his deep expertise to the firm, expanding services for his existing clients and bringing his "rainmaking" skills to the team. To read the full article in the
Daily Herald Business Ledger,
click here. If we can help you with your own succession planning needs, please give us a call.
|
|
|
MMA & Co. Completes Successful Peer Review
The partners of Mathieson, Moyski, Austin & Co., LLP, are pleased to announce the successful completion of an independent peer review of our accounting and auditing practice. This review is undertaken every three years as a condition of membership in the American Institute of Certified Public Accountants (AICPA), the national organization of CPAs in public practice, industry, government and education. The peer review was conducted by May, Cocagne & King, P.C., a CPA firm based in Decatur, IL.
"Bankers, bonding agents, investors, suppliers, legal advisors and others use the financial statements our firm audits, reviews or compiles," said Mike Moyski, CPA. "We believe these people, our clients and our own staff deserve independent assurance that our firm provides quality services," he said.
Peer review is the result of a 1988 bylaw amendment approved by the AICPA to require members active in the practice of public accounting to participate in a practice monitoring program. With the adoption of this proposal, the AICPA implemented a peer review program of unprecedented scope in the CPA profession or any other.
"Our participation in peer review demonstrates our firm's desire to meet the profession's high standards of professionalism and our commitment to maintaining and improving the quality of our practice.
We're proud of our peer review results and proud of our team," Mike said. If you have any questions about this process, please contact Mike at
[email protected] or call 630-653-1616.
|
|
|
|
 |
|
Shannon joins fellow volunteer Vince Salinas at "Cuisine for a Cause"
|
|
|
Our People Make a Difference
This past April MMA & Co. was proud to be a sponsor of the 13th Annual "Cuisine for a Cause," a fund-raising event for
Naperville CARES.
Shannon Bachara, CPA, has served two three-year terms on the board and this month she steps down from her role as corporate secretary of the board. "It's been a joy to have been of service to Naperville CARES and I'm proud to represent Mathieson, Moyski, Austin & Co. as a community representative," Shannon said.
|
Naperville CARES recently announced they will be merging with Loaves & Fishes Community Services, combining forces to fight hunger and help families achieve self-sufficiency. In a recent article in the Naperville Sun Loaves & Fishes Community Services interim CEO and board Chairman Mike Havala made the announcement, saying the merger will provide significant benefits to clients who use the services of both not-for-profits.
As for Shannon, she says that she'll be taking a little time off before making any future board commitments. However, she plans to stay active through her participation in the |
|
|
|
Kim Scroggs, CPA, (second from right) celebrates with fellow volunteers (L to R) Angela Regan, daughter Jackie Scroggs
and Sarah Commike
|
|
Carol Stream Chamber of Commerce... you can look for her and fellow MMA & Co. team member
Helen Demsher, CPA, to represent the firm at the Chamber's upcoming golf tournament.
|
|
The Fourth of July holiday reminds us of the many blessings of our country and the people who have contributed to making it great. We hope you have a safe and happy holiday, whether you're enjoying a picnic with family and friends, cheering for your favorite high school band at a local parade or watching a colorful display of fireworks. Thank you as always for inviting us to be your trusted advisors.
|
The Team at Mathieson, Moyski, Austin & Co., LLP
Mike Moyski, CPA
Ron Austin, CPA
Brett Mathieson, CPA
Brian Eisenmenger, CPA
Jim Mathieson, CPA, Of Counsel
211 South Wheaton Avenue | Suite 300 | Wheaton, IL 60187 | 630-653-1616
|
|
|
|
| |
|
|
|
|
