With the aging baby boomer population, Boards of Accountancy are reporting an increase in the number of inquiries from licensees and the public with respect to the practices of sole practitioners who have died or become incapacitated. When the death or incapacity of a practitioner occurs, several key issues arise including who will take control of client records and who will assure their safekeeping during the winding down of the practice.

Working together with the AICPA, NASBA recently finalized the Practice Continuation Agreements: A Practice Survival Kit.

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