GUIDELINES FOR MERGER OF SMALL AND MEDIUM PRACTICES
Economies of scale are advantages that accrue to an entity as a result of its broader operation. Over the years it has been noted that some accounting firms in Uganda cannot compete favorably for work in certain sectors because of their sizes. Many small firms struggle with the increasing demands for compliance with applicable laws, regulations and international standards.
The guidelines for merger of small- and medium-sized accounting firms are aimed at encouraging sole practitioners to exploit the benefits of size in their operations. These guidelines are to be applied and adopted, as necessary, in the merging of accounting firms and other business combination activities. The purpose is to enable small firms exploit the avenues and synergies related to a bigger sizeable force in securing work and ensuring quality services.