How To Choose Among The Top CPA Firms
Choosing a CPA firm can be a daunting task. Firms vary in the services offered, the size, and the backgrounds of the accountants. This is not a task that can be accomplished very quickly since research is involved in choosing the best fit for your business. Use the suggestions below to make sure the firm you choose if a good match with your business.
One of the aspects of choosing a CPA firm is the size that you prefer. If you enjoy working one-on-one with a single person, a smaller firm would be better suited for your needs. However, if you enjoy having a team dedicated to your account, look into the larger firms. Also, you must consider if you are comfortable having your account subcontracted out to another firm because large firms often use this practice.
Check to see if the CPA firm specializes in your type of business. The world of accounting is vast, so firms often narrow their focus by choosing specific areas of expertise. This allows the firm to hone its skills and become experts in the chosen focus area.
When looking at CPA firms, you must consider the complexity of your requirements. Is the job of the firm only to prepare your year-end items such as financial statements and tax returns, or are you looking for a firm to manage your accounting and payroll throughout the year? Do you need advice on financial management and making a larger profit, or do you want a firm that will simply manage your existing system? These are important questions to consider before choosing among the top CPA firms.
The reputation of the firm is very important to consider. Have your friends and associates heard of the firm, and does the mention of the name bring a positive response? Does the firm have references for businesses of similar size that you can contact? Does the firm have a reputation for only maintaining standards or do the accountants look for new and innovative ways to aid their clients?
Word of mouth can be an indicator of a firm’s reputation. Check with your associates to see who they would choose if they had to pick another CPA firm. Who are your associates currently using and what has been the result of the services? Also, you need to consider if your personality and business savvy meshes with that of the firm. If there appears to be friction or disagreements regarding the approach to take, it is advisable to continue looking at other firms.
When looking at CPA firms, it is important to examine their qualifications. Although it is not common, there are people who offer accounting services who do not have the necessary qualifications. Does the firm carry liability insurance? If so, this is a positive indication that they possess the necessary qualifications. Does the firm have some type of supervisor or are they a member of an organization where you can voice any complaints? Check into the education credentials of the employees and research to see if the educational institutions have a reputation for producing excellent candidates in the accounting field.