■ Accounting
■ Accounting
Finally , you should consider how an accounting firm invests in its own business ; both in technology and in people . By weighing these factors thoughtfully , you can transition to a firm that not only meets your current needs but becomes a long-term ally in achieving your financial goals .
Forvis Mazars Paula Ferreira , CPA Partner and New Jersey Market Leader
Some accounting firms are focused only on financial statements and compliance needs and do not suggest ways a business can overcome pain points in the next month , quarter , or year . To remedy this , a company needs an accounting firm that truly understands its business and the industry in which it operates . Accounting firms bring more value when we partner with clients and work strategically alongside them . We do much more than deliver a product ; we bring our experience in the industry to help companies make proactive and strategic business decisions .
Some accounting firms and their clients are not responsive to each other ’ s needs . Deadlines and business move too fast to be waiting for answers from either side . Listening to understand and being responsive to one another are imperative for ongoing success . Setting up clear lines of responsibility – and specific people or committees to execute those duties – is a best practice . When this happens , the results are truly strategic in nature and customized to a company ’ s evolving needs .
HBK CPA Tom Angelo Chief Executive Officer
Today ’ s business landscape demands more from CPA and advisory firms than ever before . When relationships with CPA firms deteriorate , it ’ s rarely about technical competence alone ; it ’ s often about communication , proactivity , and strategic alignment .
One common breaking point is the tax season surprise ; finding out about significant tax implications when it ’ s too late to implement strategic solutions . Business leaders should seek firms that provide year-round planning , not just compliance work . Our firm believes in continuous engagement , helping clients anticipate and address challenges before they become problems .
Another frequent issue is the loss of senior-level attention after the honeymoon period ends . When evaluating potential firms , ask about their partner-to-staff ratios and their specific commitment to your account . Understand how they maintain consistency while developing the next generation of leaders who will serve your business .
Technology integration is also crucial . Many firms struggle to keep pace with digital transformation , leading to inefficient processes and
delayed reporting . Look for firms investing in advanced platforms that provide real-time insights and seamless collaboration .
Most importantly , assess whether potential firms truly understand your industry and growth trajectory . The right accounting partners should offer insights extending beyond the numbers ; including introductions to potential strategic partners , guidance on succession planning , and perspectives on industry trends .
The best relationships aren ’ t built on promises of perfection but on transparent communication , shared values , and a genuine commitment to your success . When these elements align , you create a partnership that grows stronger with each challenge overcome .
SKC & Co . CPAs , LLC Sarah Krom , CPA , MST Managing Partner
One of the most important questions you can ask a CPA firm is their policy on turnaround time responding to phone calls and emails . The biggest reason I hear business owners give when looking for another CPA firm is a lack of responsiveness and feeling as if they are not a priority . Our firm only takes on a set number of clients per year , allowing us to grow as a firm in a measured way that doesn ’ t impact client service .
Often , there isn ’ t a team assigned to clients , so there is no continuity year to year and a relationship is almost impossible . Ensure that you meet the team and that there will be consistency in that team year-over-year . Finally , ask about a succession plan for the firm . Our industry is deep with consolidation and CPA firms that merge up can quickly outgrow their small to medium-sized business-owner clients . Your financial world demands trust and confidence and every business owner , regardless of size deserves this right , do not settle for less .
Smolin , Lupin & Co ., LLC Paul Fried , CPA Chief Executive Officer
When selecting a new accounting firm , business leadership must carefully evaluate several key factors to ensure the partnership aligns with their organizational goals and needs . Proactive excellence is crucial , as businesses benefit from a firm that anticipates issues , stays updated on tax law changes , and offers insights to minimize risks and capitalize on opportunities . A firm that demonstrates initiative can provide valuable guidance , helping businesses remain competitive and compliant .
Equally important is the delivery of timely professional services . Businesses rely on accurate , on-time financial reporting and tax filings to make informed decisions and avoid penalties . A firm that prioritizes meeting deadlines and maintains strong communication practices ensures that leadership always has access to critical financial data when needed .
Last , firms offering superior advisory services can significantly enhance business performance . Beyond routine accounting , firms that provide strategic advice on growth strategies , financial planning , and market trends empower leadership to make confident , forward-thinking decisions . Advisory expertise adds immense value by tailoring solutions to the unique challenges and opportunities of the business . Business leaders should prioritize accounting firms that excel in proactive service , ensure timely and accurate deliverables , and offer strategic advisory expertise . These qualities contribute to long-term financial health and sustained growth .
Traphagen CPAs & Wealth Advisors Robert J . Traphagen , CPA CGMA Managing Partner
This tax season has revealed what the industry has been experiencing over the past few years with a consolidating market and private equity inclusion , there has been a significant gap in client relationships .
Some of the clients we have onboarded recently shared the following reasons for their change of firms :
◾ Communication . There is a lack of consistent , proactive communication throughout the year to be an integral partner in the growth and wellbeing of the entity .
◾ Strategic Guidance . Lack of guidance during critical periods prior to the company ’ s year-end to implement timely tax-efficient strategies .
◾ Limited Resources . Inability to provide holistic solutions for the business , its shareholders , key personnel , and family members including estate planning , retirement planning , financing , financial planning & wealth management services .
What differentiates our firm ? Everyone in our firm understands and embraces our vision and our culture . Our purpose , our “ why ” ( Simon Sinek ) is to make our clients successful . We minimize their respective tax burden , build wealth , and provide financial security for our clients , their families , and now , in many cases , their extended families .
We maintain a Jim Collins “ Good to Great ” consistency of rigor and discipline that permeates our organization and creates a flywheel of holistic life cycle services for our firm ’ s clients . We are trusted business advisors , client-centric , and thought leaders .
With a high demand for financial advisory services , firms need to highlight their expertise , leverage technology , and embrace a client-focused approach to providing valuable advisory services as active strategic decision-makers .
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