In an exclusive interview, Professor Arnold Schilder, Chairman, International Auditing and Assurance Standards Board, speaks about the essential role of audit in the accounting profession.

This article was first published in the IS Chartered Accountant, May 2014.  Reproduced with permission from the Institute of Singapore Chartered Accountants (ISCA).

Part I explains the rationale and underlying theories that support the switch from hourly to value pricing.

Part II discusses early challenges and practical steps to take when beginning to transition your accounting practice to a pricing model based on value. 

Part III outlines the 8 steps an accounting practice or firm should take to implement value pricing. Accompanying exhibits include practical checklists and forms.

Articles by Ronald J. Baker. This three-part series of articles were excerpted, and adapted, from his latest book, Implementing Value Pricing: A Radical Business Model for Professional Firms, published by John Wiley & Sons, Inc., 2011