Firm operations

TOPICS / FIRM PRACTICE MANAGEMENT

August 1, 2025

Professional liability risk stemming from CPA firm acquisitions — part 2

Disparity in processes can lead to heightened risk.

August 1, 2025

Building a better CPA firm: Getting governance right

One firm’s example shows what’s important to consider when firms transform their governance models.

July 1, 2025

Professional liability risk stemming from CPA firm acquisitions – part 1

Failure to perform sufficient due diligence could lead to professional liability claims, as highlighted in the following scenarios.

June 1, 2025

Form 1065: Pay attention or pay up

Along with the changes brought about by the Bipartisan Budget Act of 2015, the IRS’s focus on partnership returns appears to be undergoing a renaissance. Understand how the environment is changing and how you can be prepared.

May 1, 2025

Changes at the firm? What to do with working papers

In the event of a malpractice claim or a regulatory inquiry, you may need to produce working papers to support your defense.

April 1, 2025

Employee ownership and taxes: Why firms are choosing ESOPs

Converting to an employee stock ownership plan offers firms tax benefits and an alternative to private equity.

April 1, 2025

Should I disclose my use of gen AI to clients?

Informing clients about the incorporation of generative AI can enhance transparency and trust, ultimately strengthening the client-accountant relationship.

March 1, 2025

The risk of providing unintentional financial advice

Clients often seek their CPA’s advice on potential investments. Failure to respond properly can leave the CPA subject to lawsuits.

February 1, 2025

Retired partners: A liability risk?

A retired partner may expose a CPA firm to professional liability risk if clients believe the former partner still speaks for the firm and rely upon that individual’s advice.

January 21, 2025

Activities to ease busy season stress

CPA firms have numerous options to relieve stress and show appreciation.

January 1, 2025

Building and running an accounting podcast

Two professors explain how they produce their Journeys of Accountancy podcasts, which feature successful accountants in a variety of careers.

January 1, 2025

Why firms should review their pricing

Reviewing and adjusting fees can solve problems with high client demand and low talent supply. Find out how to improve capacity and revenue.

January 1, 2025

Risk management mantras to add to your daily practice

January is a time to reflect on the past and set your intentions for the year to come.

December 1, 2024

How to not lose sleep over NOCLAR

CPAs can be at risk of a claim related to a client’s non-compliance with laws and regulations, or “NOCLAR.” Learn what to do should you encounter suspected NOCLAR.

November 18, 2024

PKF O’Connor Davies strikes a deal with private equity

The top 30 firm announces investment by two entities in the continuation of an industry trend.

November 1, 2024

Missed due dates: Diligence and the lurking danger

The IRS’s increased enforcement efforts come at a time when claims related to late or missed filings are increasing. A docket system can help avoid these errors, but it can’t do it alone. It needs your diligence.

November 1, 2024

Offshoring for CPA firms: The hows and whys

Offshoring can open the door to a global talent pool, but firms should follow best practices and avoid common pitfalls.

October 1, 2024

10 tips to help avoid wire fraud scams

CPA firms can protect themselves from falling victim to a wire fraud scheme by taking these actions before, during, and after payment processing.

September 1, 2024

Outsourcing and professional liability

CPA firms that outsource services need to understand what professional liability risks exist and what actions they can take to help mitigate those risks.

August 1, 2024

Single-owner firms: The thrill of flying solo

CPAs piloting their own accounting practices share their challenges, successes, and lessons learned.

FROM THIS MONTH'S ISSUE

Drafting an AI policy that actually works

As AI use accelerates, many firms are discovering their policies haven’t kept pace. This article breaks down what CPAs and finance leaders should consider when drafting an AI policy that’s practical, flexible, and fit for real world use.