Get Practice Continuation Agreements: - Aicpa

Filling out the Practice Continuation Agreements is an essential task for ensuring business continuity in public accounting practices. This guide provides a thorough walkthrough of the agreement’s components, helping users navigate each section clearly and effectively.

Follow the steps to complete the agreement accurately.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering the date of the agreement at the top of the form. Format this as the day and month followed by the year (e.g., '_____ day of _______, 20___').
3. Specify the parties involved by detailing the name and structure of the company (e.g., XYZ & Company) and the individual's name (e.g., John Doe). Ensure the business structure (general partnership, professional corporation) is correctly indicated.
4. Clearly define in Section 1 the terms such as 'Total Temporary Disability', 'Total Disability', 'Retirement', and 'Effective Date'. Fill in the blanks with the appropriate time frames as required.
5. Proceed to Section 2 where you will indicate the type of public accounting services to be provided. Ensure to write down the timelines or conditions relevant to service commencement and payment terms.
6. Fill in specific provisions regarding the retention and transfer of accounting records. This includes any necessary financial arrangements for services rendered during the temporary disability period.
7. In Section 3, indicate the conditions for the assumption of lease obligations and any necessary details related to equipment or office space leases.
8. Complete the sections regarding the purchase of furniture and equipment, noncompetition agreements, and indemnification clauses by filling in the required percentages and time frames.
9. For the arbitration clause in Section 9, specify the governing state and any additional information on arbitration procedure.
10. Review all fields for accuracy and completeness. Save your changes, and you may then download, print, or share the finalized form as required.

Complete your Practice Continuation Agreement online today to ensure your practice’s long-term stability.