Dear PMG:
My mom’s a Certified Public Accountant who, for decades, has
run a thriving practice. Her dad was a CPA in the USA, and a Chartered
Accountant in India. And his father, too, was a CA in India. I studied
accounting in college, and after receiving my MBA, I joined a public accounting
firm where I was promoted to the partner level. Now contemplating retirement,
Mom has been encouraging me to take over the helm at her firm.
It seems
to me that nepotism is a fundamental part of Indian life but out of place in the
modern world of free markets. Indeed, in the postmodern world that this column
promotes, I would think that nepotism constrains not only merit, but also free
choice. As such, I’m contemplating saying no to my mother.
Dear
Friend,
“Almost every page of the Gita advises us not to make a
distinction between our own people and others. How is this to be done?
Reflection will lead us to the conclusion that we should perform all our acts in
a spirit of non-attachment.” (M. K. Gandhi).
Yes, Abhishek has Amitabh
and Jaya, Anil and Mukesh had Dhirubhai, and Rahul has Sonia who had Rajiv who
had Indira who had Jawaharlal who had Motilal?. Nepotism is as Indian as the
tricolor. It also seems to be wrapped up in the American red, white, and blue,
as evidenced by the Kennedy clan and the Bush dynasty. But does that make it
true in the Gandhian sense of seeking truth?
Your field of endeavor is a
noble one. Unlike family life, accounting is founded on ethical non-attachment.
Indeed, the American Institute of Certified Public Accountants has a website
dedicated to a Code of Professional Conduct from which I’ve unearthed this gem:
“Integrity also requires a member to observe the principles of objectivity and
independence and of due care.” While my search for “family” yielded countless
pages at the AICPA site, there was not a single result associated with a query
on “nepotism.” This suggests to me that there is nothing inherently unethical in
the concept of a family business, but that undue favoritism is not in the public
good.
In regards to your situation, perhaps you can use the simple
arithmetic formula of Nepotism = Momma’s Boy / Capability. If you will be
perceived by colleagues or clients as a Momma’s Boy with limited capability, you
can be sure that the charge of nepotism will stick. If, however, your
considerable education and experience qualifies you to take over a firm led by a
high-integrity leader who happens to be your mother, I imagine that most (though
perhaps not all) stakeholders will celebrate a succession planning process that
will enable continued success for all.
Parents, who, naturally, want
their children to succeed, would do well to heed the following guidance from
Gandhiji: “The real property that a parent can transmit to all equally is his or
her character and educational facilities. Parents should seek to make their sons
and daughters self-reliant.”