Find a CPA, and you will be able to take advantage of people who have to be highly trained to do the job they do. You will be able to have accounts audited, whether a publicly listed corporation employs you with a need to comply with the annual auditing requirement, or whether you are a smaller business needing to fill in your tax returns.
You can also use a trained CPA internally, within your organization, to show you where improvements can be made in your business, and where resources can be employed more effectively.
Publicly listed companies’ auditing
The most critical work of a CPA firm is in auditing the accounts of publicly listed companies, and the senior accountants do this within the company. There is a need for public accounts to be reviewed every year, as publicly listed companies have their stock traded by institutions and the investing public.
There have been significant scandals in recent years, highlighting the need for accurate auditing, and these have resulted not only in publicly listed companies going bankrupt but also the demise of long-standing accounting firms. While no guarantees can ever be made, no doubt finding the right accountancy firm can save your business.
Any CPA firm will have employees at different levels of the business, but the ones you deal with will depend on the exact nature of the service you need. The major auditing work is always carried out by senior professionals, but some of the routine work can be delegated to other staff accountants within the organization.
These staff accountants may be fully qualified and may have passed the Uniform Certified Public Accountant Examination, or they may be in the previous year, which they need to go through before they reach that stage.
One of the most common reasons for wanting to find a CPA or other accountant is the preparation of tax returns. CPA accountants are not necessarily tax specialists, but they will undoubtedly have someone within the organization who will deal with this.
In the rare event that they don’t, they will undoubtedly have contacts within the industry who can give you what you need. Tax return preparation is also something you can do for yourself using computer software if you have the time to learn how to use it. Some of these software programs will be the same ones used by your accountant.
Working with accountants is something that gets easier with time as you develop a relationship, and the accountant becomes more familiar with the way you run your business. When you are starting, it is vital to make sure you give the accountant as much information as possible, and the records you keep must be accurate.
— Titan Echo (@costsegsoftware) September 16, 2019
Many business owners find an accountant they can work with through referrals, so it is always worth asking everyone you know if they can recommend anyone. Even if they cannot do this directly, they may know someone who can.
If you are trying to find a CPA for your business, you will be pleased to know that this is easier to do than ever before. Even the old fashioned companies have realized that they need to have an Internet presence if they are to survive, so a simple search should give you a wide range of alternatives.
It is also more than likely that there will be a directory site for your area, and this will have many accountants listed together. If you have no direct associations with anyone who can refer you by word of mouth, use these resources to find a CPA. Here’s an awesome article on how to avoid tax filing mistakes.