Limited Liability Partnerships: The Brain Drain Continues
Mano, Ronald M., Deppe, E. DeVon, The CPA Journal
Limited liability partnerships (LLPs) are being touted as the solution to the accounting profession's "brain drain." Proponents claim that as a result of the national CPA firms reorganizing as LLPs, the three most critical brain drains will be curtailed. Those three are 1) the brightest students choosing careers other than public accounting, 2) the profession's younger CPAs balking at becoming partners, and 3) mature professionals being driven away from the profession.
In our opinion, however, the brain drain issue has not been sufficiently analyzed. In addition, there may be reasons this form of business organization might lead to significant inefficiencies, especially for …
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Publication information: Article title: Limited Liability Partnerships: The Brain Drain Continues. Contributors: Mano, Ronald M. - Author, Deppe, E. DeVon - Author. Magazine title: The CPA Journal. Volume: 65. Issue: 12 Publication date: December 1995. Page number: 56+. © New York State Society of Certified Public Accountants Feb 2009. Provided by ProQuest LLC. All Rights Reserved.