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Signed engagement letters help CPA firms improve communication with clients and protect the firm from litigation as “the first line of defense.”
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My firm has a Written Information Security Plan (“WISP”), but it hasn’t been updated since early 2023. How often should we be reviewing/updating our WISP?
Business compliance means that your business adheres to all applicable laws, rules, and regulations established by local, state, and federal government entities and agencies. Understanding noncompliance and what it means for your business goals, HR policies, and hiring practices can help you avoid associated risks and penalties.
Do you often find yourself buried under a pile of administrative tasks, taking valuable time away from client work? You're not alone. According to the 2023 Accounting Practice Management Survey, accountants spend just 55% of their time working with clients—with the rest dedicated to administrative matters.
The fear is that the change of ownership itself will cause clients to leave the firm for a competitor or start doing the work themselves. Everyone has a horror story about someone who bought a practice and lost two-thirds of the clients.
The Michigan Association of Certified Public Accountants (MICPA) announced the winners of its 2024 awards program, Celebrate, which recognizes the outstanding contributions of individual and organizational leadership today, while paving the way for the leaders of tomorrow.
With over 25 years of experience advising on 401(k) plans, I’ve seen firsthand how a well-structured retirement plan can be a game-changer for businesses. For CPAs looking to expand their advisory role, understanding workplace retirement plan options is crucial to offering tailored, value-added recommendations that align with a client’s goals and needs
In the past five years, the federal government has enacted several laws – Setting Every Community Up for Retirement Enhancement (SECURE) Act in December 2019 and SECURE 2.0 in December 2022 – to address the retirement crisis, targeting businesses as key players in the effort to help private-sector workers gain access to retirement plans.
Most nonprofits have unique ways of accounting for revenue sources, and many operate with special conditions related to raising funds for their mission. Very complex and complicated.
The role of accountants has traditionally centered on compliance services, such as tax filing, audits, and financial statement preparation. However, the landscape of accounting is evolving rapidly