Investment groups are showing record interest in the field of public accounting, leading many in the profession to look at their options while also looking inward at their business model.
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TOPICS / FIRM PRACTICE MANAGEMENT
Practice growth & client service
Help reduce risk with formal client onboarding
Systematically onboarding clients can help lower professional liability risk by minimizing misunderstandings, miscommunications, and misrepresentations.
Diversification or dabbling? You make the call
Undertaking a new service or providing service to a client in an industry with which the CPA is unfamiliar, referred to as “dabbling,” can elevate the risk of errors and professional liability claims. Learn why.
Preparing clients for lifestyle changes in retirement
Retirement planning isn’t just about the money. CPA financial planners can help clients prepare in nonfinancial ways as well.
Tips for building a firm to the right size for you
Lessons learned from a practice seeking to grow better but not always bigger.
How mental shortcuts expose you to wire fraud risk
Despite warnings and trainings, wire fraud claims continue to increase in frequency and severity. Here are some tips to help short-circuit your natural responses to this threat.
Business model transformation: ‘Single best decision I’ve made’
A small-firm owner explains how the decision to cull her client base and change her billing structure netted positive outcomes on a level she couldn’t imagine.
Succession and practice continuation agreements
Entering into a practice continuation agreement with another CPA can help you plan and prepare for the unimaginable, giving you, your clients, and your next of kin some peace of mind.
Mitigating risk of large FBAR and international tax claims
Claims relating to U.S. filing obligations for foreign activity, including the FBAR, are getting increasingly more severe.
5 things to stop doing in your firm
Stop putting clients first? Stop making revenue the primary objective? Presenters at ENGAGE explain how these counterintuitive moves could help move your firm in the right direction.
Bad billing practices can affect malpractice risk
Billing and collection practices may not be perceived as a professional liability risk issue, but proactively managing this risk is important to more than just a firm’s financial health. Learn why.
Grow your firm with intention
It’s time to question whether growth is always a good thing. Growth for growth’s sake shouldn’t be the goal.
Of high interest: What rising rates mean for everyone
Higher interest rates affect more than home or vehicle purchases. Learn more about the associated risks of a high-rate environment for practitioners and the clients they advise in this podcast episode with transcript.
How CPAs focused on advisory services can answer several common questions
A leader in client advisory services shares strategies for growing your CAS practice by delighting clients in this podcast episode with transcript.
Private equity eyes accounting firms large and small
Private-equity investors are increasingly buying into accounting firms. The deals, which carry risks and benefits for the profession, change the way the firms operate.
Innovative CPA firm leader: ‘We never had a fear of trying’
The co-founder of a leading CPA firm explains why Monday is his favorite day of the week, how his firm got out of the “rat race” of hourly billing, and how it has adapted after a merger in this podcast episode with transcript.
CAS practices report growth, optimism for the future
Client advisory services (CAS) practices reported a median growth rate of 16% over the previous year and projected 15% growth in the current year, according to a survey conducted by CPA.com and AICPA & CIMA.
Do I really need a new engagement letter for that?
A dually signed engagement letter is always the best way to document agreed-upon services, especially if a disagreement arises.
4 steps to building a successful CAS practice in a traditional CPA firm
Integrating client advisory services can be challenging for a traditional CPA firm. Here are four steps to do it successfully.
Deliver business insights with CAS 2.0
Client advisory services is the fastest-growing service area in the profession, and some firms have begun to differentiate themselves by providing not only financial services but also strategic business insights.
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Handling increased enforcement of unclaimed property notices
States are changing enforcement of unclaimed property notices. Learn best practices of how companies can tackle compliance and prevent penalties and audits.
