How Should You Communicate With Staff During an Accounting Practice Acquisition?
Updated: Oct 24
GUEST AUTHOR | Blackhall & Co
Today’s guest post is by Blackhall & Co. Blackhall & Co helps buyers find businesses worth owning. Opinions expressed by guest authors are their own and do not necessarily reflect the views of Fairlane Finance.
Staff communication should explain what the ownership change means for people’s work, distinguish confirmed arrangements from proposals and give employees a reliable way to obtain answers.
When you communicate with staff during an accounting-practice acquisition, the questions can be more personal than the purchase documents suggest.
Who will approve leave? Will the new owner understand a longstanding flexible arrangement? Who can review a difficult client file when the vendor steps back?
For an Australian buyer, a useful conversation begins before those questions become rumours. Agree the timing and approach with the vendor, check the relevant employment requirements with your advisers and prepare to listen.
Although the announcement introduces your ownership, what happens afterwards gives staff a reason to trust it.
The short answer
Agree when staff can be approached and who will deliver each message.
Explain confirmed roles, reporting lines and immediate working arrangements.
Obtain advice on employment, entitlements and any consultation requirements.
Provide group updates and a private route for individual questions.
Set a realistic next update date and follow through on commitments.
When should you communicate with staff?
The right timing depends on the transaction, its confidentiality arrangements and the information staff need. Discuss access with the vendor rather than approaching employees unexpectedly.
A premature introduction can unsettle people while important details remain undecided, while leaving everything until the last moment can make the transition feel imposed.
Your earlier review of the practice’s staff structure helps identify who needs to be involved and which responsibilities require explanation. Agree how employees on leave, working remotely or attending different offices will receive the same core information.
Nobody should have to discover a significant update second-hand simply because they missed a meeting.
Keep the announcement plan aligned with legal advice. Where consultation or individual employment communications are required, an agreed commercial timetable should accommodate them. A confidentiality preference is a matter to discuss with your solicitor, rather than a reason to assume employee obligations can wait.
Explain what people can rely on today
You do not need to present a finished strategy for the next five years.
Staff first need to understand who you are, when ownership changes and how their work will be supported. Explain your relevant experience and management approach in concrete terms, such as how technical questions will reach you and how priorities will be discussed.
Distinguish what is confirmed, what is proposed and what remains under review. If a future office move is only being considered, describe it that way. Avoid reassuring people that nothing will change when changes are already planned.
Equally, do not turn a possibility into an announcement before the implications and required process have been assessed.
A concise written follow-up can cover:
The ownership timetable and relevant contact people.
Confirmed reporting lines, current responsibilities and immediate priorities.
Confirmed work location and arrangements, where appropriate.
How employment questions will be addressed individually.
The route for confidential concerns and the date of the next update.
Treat employment questions as individual matters
The Fair Work Ombudsman’s guidance on changes of business ownership explains that a transfer of business can affect employee entitlements and has specific requirements. Your advisers should assess the acquisition structure, employing entity and each relevant arrangement. A sale of shares and a purchase of business assets should not be assumed to produce the same employment consequences.
Employees may ask about continuity of service, leave balances, pay, contracts or the identity of their employer. Prepare accurate, adviser-reviewed answers where possible, and give a named contact for unresolved questions.
Discuss personal details privately. A broad promise made at the first meeting can create confusion if an individual’s actual position differs.
If you cannot answer immediately, explain what needs checking and when you expect to respond. The useful commitment is to a clear process you can deliver. An employee’s concern deserves a specific answer, even if the answer is that further advice is needed.
An announcement does not replace consultation
Fair Work’s consultation and cooperation guide explains that consultation requirements arise through legislation, awards and enterprise agreements, including requirements relating to significant workplace changes and regular rosters or ordinary hours. Check which provisions apply before implementing proposed changes. A presentation of a decision and a chance to ask questions may not satisfy the applicable process.
Proposed technology changes illustrate the practical point. Employees may need training, different access or time to learn a revised workflow. Explaining the reason for the change is useful, but listening to its effect on workloads can reveal implementation problems before they interrupt client service.
Confirm legal requirements separately from your preferred communication approach.
Make it possible to raise uncomfortable questions
A quiet room does not establish that everyone is comfortable.
Some employees may prefer a private conversation, particularly about pay, caring responsibilities or concerns involving a colleague. Offer a clear route to the appropriate manager and explain how questions will be followed up. Include representatives where required or appropriate.
Fair Work’s effective dispute resolution guide encourages employers to identify who staff can approach, listen to concerns and address issues early. During an acquisition, that approach can help you distinguish a misunderstanding from a genuine operational problem. Listen before defending the plan, and clarify the facts before promising a solution.
Your assessment of key staff risk may highlight people with important client or technical responsibilities. Give them suitable attention without overlooking the wider team.
Reception, administration and junior accountants may notice bottlenecks that senior staff do not encounter.
Keep personal information out of general updates
The OAIC’s employee-records guidance explains that the private-sector exemption applies in particular circumstances and does not cover future employment relationships. Do not assume every employment record can be shared freely during acquisition discussions. Have your advisers assess applicable privacy obligations and agree appropriate access and transfer arrangements.
A general update can explain the question process without revealing an employee’s remuneration, health information or personal circumstances. Your data and cybersecurity review should inform how sensitive records are handled.
Practical discretion also matters: notes intended for a private employment discussion should not enter a broadly shared transition tracker.
An illustrative example: clarify where decisions now sit
Suppose the vendor remains for a limited handover period. Staff continue seeking their approval for technical questions, while the buyer assumes a manager is now responsible. The first announcement mentioned continuity but did not explain the new reporting arrangement.
A follow-up discussion can clarify the responsible reviewer, the vendor’s support role and the route for urgent questions. Staff can then explain where the arrangement still creates gaps.
This hypothetical example illustrates a communication issue, while the appropriate responsibilities depend on qualifications, supervision needs and the agreed handover.
Frequently asked questions
Should the buyer and vendor speak to staff together?
A joint introduction may provide continuity and consistent information. Agree the format and timing, while keeping individual employment matters and required consultation within the appropriate process.
Can I promise that everyone’s arrangements will stay the same?
Make only commitments you can support after obtaining relevant advice. Explain confirmed arrangements accurately and distinguish proposals or unresolved matters.
What if I do not know the answer to a staff question?
Identify what needs checking, who will respond and the expected update date. Record the question and follow through rather than offering an unsupported reassurance.
Does an ownership announcement satisfy consultation obligations?
Not necessarily. Requirements depend on applicable legislation, awards, agreements and the proposed change. Have your employment adviser assess the required process.
How often should I update the team?
Agree a rhythm that suits the transition and provide material confirmed updates promptly. A short update acknowledging open questions can be useful when there is no final answer yet.
Let follow-through establish confidence
Staff communication works best when the next action matches the message.
Keep answers accurate, responsibilities visible and update commitments realistic. Your team should know who to approach, what they can rely on and how their concerns will be considered as the practice moves into your ownership.
Sources and further reading
Contributor disclaimer: This article is contributed by Blackhall & Co and published on the Fairlane Finance website. The views, opinions and conclusions expressed are those of the contributor alone, not statements of Fairlane Finance’s position. Publication does not constitute Fairlane Finance’s endorsement of the contributor’s views, services or any proposed acquisition.
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