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Choosing a CPA
There are a few
relationships in business today that are more important than your
relationship with a CPA firm. When interviewing firms for possible
engagement, you should ask a series of questions which can help
determine which firm would be the best "fit" with your
business and offer long-term service with a high level of comfort and
confidence.
9
Questions you should ask when comparing accounting firms.
Question 1:
Are the principals of the firm directly involved with daily client
work and familiar with details of each client, or are they more
involved in administrative duties such as marketing, staff supervision
and practice management?
Question 2:
Is the firm large enough to offer the resources I require, yet small
enough that I will get personal service and feel like an important
client?
Question 3:
Is this firm one that will be accepted by my banks and other financial
statement users?
Question 4:
Do I need an accountant who has experience in my industry or are my
needs generic? If I need industry or special technical expertise, can
this firm accommodate this need?
Question 5:
Is the principal of the firm who I am considering for engagement the
one who will actually work on my business?
Question 6:
Hourly rates can be the indication of value in a well-run firm where
principals and staff are focused on client matters. What are the
firm’s hourly rates and how experienced are the accountants to whom
these hourly rates are assigned?
Question 7:
Do I feel comfortable with the personalities of the principals and
staff members of the firm who would be working on my business?
Question 8:
Is the firm a member of the AICPA (and, thus, subject to the stringent
continuing education and peer review requirements that such membership
entails) ?
Question 9:
Has the firm received "unqualified" clean opinion on its
recent peer reviews?
The answers to theses questions should give you a higher level of
confidence that you have properly reviewed the capabilities,
experience , reputation and chemistry of the firm you select and
should result in a long-term and beneficial relationship with your CPA
professional.
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