From outsourcing to deals with multi-partner firms, there is a revolution underway in the world of the sole practitioner
Many sole practitioners are from the baby boomer generation. On qualifying, they were authorised to undertake most activities requiring on behalf of their clients, whether it be an audit or a tax investigation. Even insolvency was covered by the original qualification.
Over successive years there has been increasing legislation from the government and ever tighter restrictions placed on the profession by the various institutes and more rules introduced. This has narrowed the work that can be undertaken by an accountancy practice let alone a sole practitioner.
The end result is that a multi-partner firm of a reasonable size has been able to cope with the changes, designating partners to undertake various roles.
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