surveys & research

four basic understandings every auditor must master

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make your audits more relevant and provide value-added insights and services to your clients.

by alan anderson, cpa
transforming audit for the future

the question professionals should always ask is, “are we leaving the profession better than we found it?” so, let’s ask: are we leaving the audit profession in better shape than it was when we inherited it?

more: put the ethics code to work for your clients and your firm | turning audit & accounting into assurance & advisory | wanted: great audit mentors | is audit in crisis because of definitions? | stop sending the wrong message to audit teams | closing the audit expectations gap
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

right now, we’re not providing value, but i honestly believe it’s not too late. the future of audit is ours to create or a future that will happen to us, and not necessarily a future we would prefer.

it will take leadership to change the future of audits. we have to take ownership of the process.

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survey shows that tech remains the great divide

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casually dressed man working at laptop, money stacks covering surrounding desk space

why are the non-adopters not adopting?

by 卡塔尔世界杯常规比赛时间 research

wolters kluwer tax and accounting has issued its annual tax and accounting survey. the results show an industry re-evaluating its criteria for success as firmwide changes occur.

technology is the driver of those changes, and its rapid evolution is enabling, and even necessitating, innovation.

more: is the cpa business model the clog in the pipeline? | can big data spot financial fraud? | accountants torn over 2024 economy, offer advice | survey: are you offering the right services? | 42% of accountants turn away work over staff shortages | talent gap widening: be very scared | cpa biz is booming, but for how long? | survey: accountants economic outlook brightens
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in her introductory letter, cathy rowe, wolters kluwer senior vice president, professional market, says, “those who embrace innovation will be able to redefine their firms, leave no spreadsheet untouched by the winds of change, and truly be future-ready accountants.”

the numbers back up the increasing use of and dependence on technology, but they also reveal a significant part of the industry declining to board the tech train.
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four questions for choosing your marketing audit strategies

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smiling woman with head surrounded by question marks, exclamation points and yellow light bulb

what segments and services offer you the most potential?

by august j. aquila
price it right: how to value accounting services

let’s continue with our marketing audit discussion. now that we have some firmwide objectives, we need to select strategies. there are many ways to accomplish something, and it is necessary to select how you are going to go about doing it.

more: maybe what you need is a marketing audit | clients have six reasons for needing you | six ways to market your technology consulting practice | sixteen marketing activities to try | the four steps of your personal marketing process | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | ten keys to marketing success
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selecting your strategies

let’s look at four different strategies.

  1. cost reduction. as new forms of technology and artificial intelligence enter the workplace, it is increasingly possible to achieve a competitive advantage by using them to reduce the cost of service delivery. tax processing software is a common example that firms have used over the last 20 years. ai could help firms reduce costs in multiple areas of the firm, from tax research to improving processes.

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ftc nails turbotax for ‘free filing’ scam

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shocked couple looking at laptop while sitting on couch

what does ‘free’ mean? it shouldn’t be up for debate.

by 卡塔尔世界杯常规比赛时间 research

american taxpayers are all victims of a tax scam.

yes, all of them.

more: if only the irs’s tax pro were useful | tax pros file 33% of early returns | the nightmare of non-credentialed tax preparers | must the irs be a dark hole? | irs plays whac-a-mole with the phones | vcs plunk $60 million into ai-powered ‘autonomous’ tax prep
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and the new york times points an accusatory finger straight at turbotax.

a tax season villain

in a 15-minute video article by john harris and binyamin appelbaum, the times says there’s a tax villain, and it’s neither the tax rate nor the internal revenue service.
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advisory work must be priced by value, not hours

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technology pushes us to handle more advisory work, which allows more value pricing. 

by jody padar
the radical cpa

as a professional in the industry, you may find some of what you do easy. just because you find it easy doesn’t mean it isn’t valuable and worth more than the time you put into it. if it were truly easy, your clients would be doing it themselves rather than paying you.

more: how hard do you work to keep your clients? | four things to know about social media | internal communications are underrated | four things better than a company song | let’s lose the word ‘image’ | the risk in not understanding risk | what your marketing program can and can’t do | nine reasons that prospects say yes | how marketing evolved to 3.0
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

undervaluing ourselves and what we bring to the table is a chronic problem plaguing accountants and cpas. why do i say this? because people pay more for the luxuries they value. let’s look at a comparison:

today, the msrp of a cadillac escalade is over $81,000 while the msrp of a chevy suburban is slightly under $60,000. if these automobiles were priced according to the time it takes to make them, plus the cost of their parts, the difference between their retail prices would probably be far less. to maximize profits, gm spends a lot of time and money researching how much their customers value their different products. certainly, the brand makes a difference, but the cadillac also offers a more luxurious package. it doesn’t cost gm a lot more money to offer these luxuries, but their customers place a much higher value on them, and gm understands that value.

pricing according to value really isn’t a radical concept!

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