A Very Long Audit



y sister, a nursing student at the time, had come to visit and arrived early enough to meet me at my client’s site. She came up to our audit room, met my fellow team members and sat at the partner’s desk, right next to mine. Our workload had slowed substantially, as we had just completed what was my fifth yearend audit for this client, and we were giddy with the excitement of having our first weekend off in quite some time.

After a lull in our group’s conversation, my sister looked at me with an expression of confusion.

“Cara? You’ve been here at this same client since you first started five years ago, right?”

“Yes, I have,” I replied, beaming with pride, reflecting on all I had learned over the past five years. No two days were alike with this client. There was constantly something new to learn; fresh, complex accounting issues arising during each year’s audit.

My sister shot back, “Well, what’s taking so long?”

Having never taken a business course in her life, she had no idea the client needed to have an audit performed each year.

—Cara Greene, CPA


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.