stop sending the wrong message to audit teams

audit is becoming further commodified. 

by alan anderson
transforming audit for the future

instant download:
the new manifesto for accountants.

the value of what we provide to clients has declined until it has become a commodity. that, in turn, drives our fees down.

the lack of innovation means that our clients can’t tell the difference between the audit we do and one done by the firm down the street. none of them provide relevant information or any value to our clients.

more: three fundamental questions to ask in audit | how auditors can beat ai | the big issues in audit: frustration, inconsistency and technologyfive ways to increase audit efficiency | early adopters gain an edge in audittalent retention: five tips for an audit adjustmentsix benefits of an internal audit | the ten financial controls that’ll make you a hero | five cash reports you can’t live without | when an audit is a great thing
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if our clients don’t see the value, then the audit is only being done to meet a regulatory or banking requirement, and in that case, the cheapest option that meets that basic requirement is the one they choose.

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how to help a client start a new business

two men looking at computer screen

of course there’s a checklist … with 64 items to consider.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

many clients start small businesses and some grow into big businesses. anyone starting a business needs assistance at the beginning from an accountant on choosing an entity, determining the initial capitalization, getting an identification number and setting up the books.

more on marketing: the tax effects of buying or selling a business | how to offer conflict resolution | get your clients talking about retirement | how to assist investment clubs | when clients remarry | seven questions to suggest estate planning | four reasons to perform tax projections | four additional services to suggest
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services also related in this area are buying a franchise, entering into a partnership and structuring investments. all proposed transactions by clients should be reviewed by an accountant for the tax consequences of such activities.
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adrian hong: necessity can make you an expert

innovation insights: trial by fire may not be fun, but it can make you a pro.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegooglespotifyiheartdeezer, amazon music and audibleplayer fmaudacygaana (india), and boomplay (africa).

innovation insights
with donny shimamoto

center for accounting transformation

adrian hong’s journey into the realm of environmental, social, and governmental (esg) reporting has been nothing short of inspiring. as the founder of hong consulting, llc, his dedication to assisting companies with esg reporting stems from a rich tapestry of experiences, all pointing to one common thread – the desire to help.

center for accounting transformation
center for accounting transformation

more: blake oliver: why tax work yearns to be free |private equity explodes in u.k. | brannon poe: the status quo must go  |  accounting nerds, unlock your super powers  | private equity vs. the cpa firm partnershipthe fintech flood: accounting will never be the same  |  think small to think big with matt wilkinson | your sales tax headaches are only just beginning | when financial statements go extinct with corey schmidt  |  can geraldine carter save accountants from themselves? |  re-inventing accounting with tyler anderson |  turning client service into new revenue

see also: deloitte develops audit technology for smaller firms

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after building a formidable reputation in auditing within public accounting and lending his skills to the financial accounting standards board for refining external taxonomy, life had other plans. hong returned to his roots in hawaii to steer the helm of his family’s venture, island plastic bags.

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it’s ok to have favorite clients


happy business professionals giving high five hand slap

here’s how to get more work from them.

by penny breslin
it’s not just the numbers

you cannot do everything all at once for everyone. this group exercise calls on your team to be an integral part of selecting the best clients to approach for back-office support services.

more: narrow your prospects by choosing a vertical | eight tasks to delegate today | ten questions for teamwork | build your team, then choose your clients | advisory services done your way | yes, you can be an outsourcer | how back office support adds value | ai is not your enemy
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sit down with your team members and identify those clients you like working with now. get their experience of working with these clients. because your team’s collaboration is critical to success, getting their input is vital. the changes that occur will affect them as much as it will your clients.
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bill penczak: stop forcing smart people to do stupid work

challenge your people and keep the work interesting or risk losing them. 

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr

too many accounting firms have “smart people doing stupid work,” according to bill penczak, a veteran sales and marketing professional. the founder and chief insights officer for mica ventures said to think about the effort it takes to get an accounting degree and get your cpa, and contrast that with the years of mindless work that many new hires are required to do, especially if they go into audit, he said. “one of the reasons why there’s such a talent shortage is because the market has figured this out,” and no one wants to do that stupid work, penczak said.

more podcasts and videos: sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right pricesmarie green: your bad apples are ruining youmegan genest tarnow: hire for curiosity rather than complianceclayton oates: one way to keep clients for liferandy crabtree: follow these three rules to keep employees happyerik solbakken: yes, you can work less and make more | donny shimamoto: future firm growth requires a mindshiftjennifer wilson: empower young workers to build the firm everyone lovesmike whitmire: re-think your hiring and training practiceshector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be freeprivate equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinsonwhen financial statements go extinct with corey schmidtcan geraldine carter save accountants from themselves?re-inventing accounting with tyler anderson

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besides making smart people do stupid work, penczak said many of the firms he works with are realizing that they need to do a better job with mentoring and career development, as well as simply having more conversations with their people.

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