From the BILLiverse
In this issue’s commentary, Bill Reeb discusses partnership/shareholder agreements and their importance to a firm’s infrastructure. Without a single agreement in place, the firm’s foundation could crumble. In the first article of this series, Bill talks about the importance of these agreements and issues firms may experience without these documents in place.
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PCAOB Issues Report on Inspection Observations of Auditing During the Economic Crisis
The Public Company Accounting Oversight Board (PCAOB) released a report summarizing inspection observations of audits of financial institutions and other companies during the economic crisis. The Board is issuing this report to inform the public about the audit risks and challenges that it has identified through its inspection program as a result of the disruption in credit and financial markets and the broader economic downturn. "This report provides illustrative examples of the kinds of issues our inspection program has uncovered during the past three years as a result of the impact of the economic crisis on the work of auditors," said PCAOB Acting Chairman Daniel L. Goelzer. "These inspection observations underscore the need for auditors to be diligent in assessing and responding to emerging areas of risk when economic and business conditions change."
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Market Consolidation: Growing through M&A
The recession, and the slow pace of recovery, is leading more small to midsize CPA firms to consider mergers and acquisitions (M&A) to grow and expand their reach. For many CPA firms, M&A offer a way to establish or broaden their footprint in a faster-growing market. The recession has made it harder for firms to generate business, but a merger or acquisition can help a firm gain market share and to expand its client base and geographic reach. Read the article to learn if M&A is right for your firm.
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The Three-Step Rule to Happy Clients
Making sure you have satisfied clients should be at the top of the list for every accounting firm. Yet, while your clients seem happy, how much do you really know about their satisfaction with your firm and its services? In this article, Hugh Duffy reveals the three-step rule for firms to use to determine, if in fact, their clients truly are happy. Duffy says, “If a firm can figure this out, it can soar above its competition and truly experience long-term survival.” Keep reading to learn what it takes to determine if your clients are happy and how to keep it that way.
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Vetting a Vendor: Questions to Ask Before Making an Investment
Now that you’ve decided to move your data, there are many questions to ask potential vendors before you settle on one. This article from the Journal of Accountancy suggests you ask potential vendors a number of questions on particular topics, such as costs, reliability, security and more. Take a look at this article to find out what kinds of questions you should be asking vendors before you make the jump.
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The Social Media Big Four: Blogs
This article is the last in a series by ConvergenceCoaching, LLC that takes a look at social media tools, how they have entered the mainstream, and are transforming the way we communicate at work. The fourth and final part of the series discusses another popular social media tool, blogs. Undoubtedly, blogs are a powerful social media tool and bear consideration in positioning your firm as an expert resource for clients and other readers.
Krista Remer and Jennifer Wilson of ConvergenceCoaching, LLC take a look at the power of blogs, their general uses, strategies and benefits.
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