Professional Responsibility Comes First

BY CHARLES TODER

I disagree with the points made in “ Pay for Performance ” ( JofA, Jun.02, page 24).

The goal of partner compensation should not be “to inspire the most profitable performance.” Profits are good, but only after assuring each partner diligently exercises his or her professional responsibilities. Partners who accept substandard financial reporting or auditing may for awhile have very profitable performance, but they jeopardize their careers, their firms and our profession.

Charles Toder, CPA (retired)
New York City

SPONSORED REPORT

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.