Why do some CPA firm owners require the buyer to be a CPA – even when there’s no certified work in the firm?

Why do some CPA firm owners require the buyer to be a CPA – even when there’s no certified work in the firm? We’ve been selling accounting firms for many years, and every time a CPA firm owner hires us to help them sell their firm, we ask that question. Does the buyer have to be a CPA?

When owners say they feel the buyer must be a CPA, we always ask why – especially when the firm does not perform any work for clients that requires the signature of a CPA. Sometimes, they say it’s about what their clients expect or they truly believe not having a CPA buyer will have a negative impact on client retention. We always share with them our experience in having helped many non-CPA buyers acquire CPA owned firms over the years successfully.

Many owners do change their mind when they realize that what matters most is that the right person takes over their firm, not just the certification of that buyer. But in the end, no one knows their firm like the owner. If they remain steadfast, we honor that. We list the firm as they envision, ensuring the best chance for a successful transition.