leadership

how to explain internal controls to clients

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man writing in notebookthen you have to use them.

by ed mendlowitz
77 ways to wow!

what are internal controls? auditors widely use this term. it also appears multiple times in engagement letters for audits of businesses and not-for-profits, but i do not believe many outside of the accounting profession really know or understand what internal controls are. i will try to explain it here.

more: the ten financial controls that’ll make you a hero | rule #1: start with cash | the priorities were backward | how to read a financial statement | 77 thoughts about client needs
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internal controls refer to an organization’s system of deterrence, oversight, checks and balances. an illustration is where someone in a business writes and mails the checks to pay a bill. if this same person then receives the bank statement and performs the reconciliation of that account, there would not be any control or oversight on that person and whether the payment was proper and not misdirected. they are checking their own work. this is how many frauds occur.
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what’s the why?

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how do you view the answers of others?

by gary adamson

the very human tendency to assume that others think as we do can lead to great misunderstanding. in truth, the things that drive individuals – what makes it all worth it – vary widely. discovering what makes each team member tick and what he or she most desires and values is an important step toward creating a cohesive partnership and bridging the gap, not just between generations but among all members of the firm.

more: three strategies to keep emerging leaders energized | marketing: not just for partners anymore | leadership growth is a two-way street | each generation must change
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as firms wrestle with baby boomer succession, the differences in attitudes, thinking and motivators between current and future leaders can sometimes be great. more often than not those differences or gaps are major contributors to the absence of future leaders who are on deck and ready to step into the shoes of the retiring partners.
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top ten types of clients (and 24 more reader suggestions)

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two women in office shake handsbonus: how verticals and the gig economy can help you.

by penny breslin
it’s not just the numbers

taking on a client’s internal accounting work requires a level of comfort for both the business owner and the accounting firm. a client that has already provided you with access to sensitive financial data is easier to work with than a new business with no previous relationship. once you have done it well with current clients a few times, then you are ready to do this with prospects.

more: eight things to stop doing now | keep the accountants focused on accounting | which kind of team do you have? | you don’t have to do everything | what do you want advisory services to be? | meet the new bos | why ai is not the enemy

reader favorite: the 24 personalities of individual tax returns (and the clients behind them)
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

understand that to be able to effectively in-source your client’s internal accounting work to your accounting firm, you need on-demand access to your client’s information. it doesn’t work if you have to wait for someone to send you the information you need. understand that the processes you use today for write-up and compliance work will not transfer well to this level of client collaboration.
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the great resignation or a reshuffling?

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how many in-person days make sense for your firm… and who decides?

by steven e. sacks

the concept of “quiet quitting” is now mainstream thought. summer 2022 is over, and with it, for many companies and their workers, their remote work arrangements.

more: four accountability steps for firm success | how to build a standout team | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

many recognizable companies have sought to get back to some normality. some want workers to return to the office full-time, some have asked for a two- to three-day in-office arrangement, and some have viewed remote work as successful and see no reason to change anything for the foreseeable future.

workers will not easily accept these changes.

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learn how to let go and let someone else step up

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young businesswoman talking to her client and using tabletthree ways for leaders to draw in more.

by sarah johnson dobek

encouraging new leaders and creating smooth transitions are easy goals to identify. honing in on specific tactics to accomplish these broad objectives can be much more difficult. this post offers practical suggestions from current leaders at firms that are finding success at developing the leadership capabilities of younger team members.

more: three strategies to keep emerging leaders energized | marketing: not just for partners anymore | leadership growth is a two-way street | win with an intentional culture
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

leadership is one of the top issues facing accounting firms today. we often hear firms say they can’t find or don’t have good leaders in their organization.
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