Certified
Public Accountant
What to look for when selecting an ethical
certified public accountant:
When selecting a CPA, here are some items to consider:
Does the CPA firm have experience and a solid track record within the
community?
Does the CPA spend the time to learn and understand your needs or do they spend most of the time selling their services? It is important to select a CPA that really understands your
business.
Does the business have a local physical
address?
Does the CPA have professional liability insurance? Why would you take the risk by having an uninsured person take control of your company’s books?
Is the CPA bonded? Any CPA that is writing checks for you should be bonded. Again, why take the risk?
Does the CPA have references from your
industry?
An ethical CPA will have a difficult time giving price quotes over the phone. In most cases the hourly rate is irrelevant - it is the cost to do the work that is important. A qualified, experienced professional may charge 30% more by the hour, but may be able to do twice as much work per hour. Most quotes over the phone are probably going to be low ball numbers
anyway.
It is important to select a CPA that will stand behind their work. Make sure you ask what happens in case of an audit? Will there be an additional fee? A good ethical CPA will stand behind their work and have the confidence in their ability to not charge an additional fee in case of a routine audit.
Every CPA firm goes through an extensive review every Three (3) years. Do not be afraid to ask to see the review. A good ethical CPA will show you the review without being asked.
Please take the time to allow the CPA to fully understand your company and how it operates. By spending the time to select a professional, experienced CPA and investing the additional time to educate them about your business operation, it is amazing how much time and money can be
saved.
Also, it is important to understand that if a fraudulent deduction is used on your return, the individual is liable and not the firm preparing the taxes. Why would you take that risk and not have a licensed professional CPA prepare your
taxes?
In interviewing CPA’s and tax preparation services we found out to our surprise that the national chains that prepare tax returns without the assistants of qualified CPA’s are about the same fee as many CPA’s. Why would you ever not have a licensed CPA do your return?
What to avoid when selecting a business in this
industry:
If a CPA promises anything that sounds too good to be true. Especially in the case of expected refunds or tax
bills.
Make sure the person that actually prepares your return is a licensed professional CPA themselves. If any mistakes are made the individual is liable in most cases and why take the risk of having someone that attends a 3 day class prepare your taxes?
It is important not to make your decision on your CPA or tax preparer over the phone or by reading advertisements. There are real consequences to filing a tax return with mistakes, why take the
chance?
A CPA that does not have clients in your industry that you can check references.
Any CPA that tells you too make up deductions or not to report any amount of income.