CPAs like to get together to compare notes and try to solve the world’s problems. At one of these meetings, a fine group of partners were discussing their teams, especially in light of the recession.
When the discussion turned to the current economy the general consensus was that this was an appropriate time to reduce overhead by firing marginal team members – thinning the herd. I have two very significant problems with this concept.
Some of the most common complaints expressed by our assurance seniors are that the client “didn’t complete the schedule request properly, or provide adequate support timely, or apply the appropriate accounting principles properly, or, or, or, yada, yada, yada”. And correspondingly the audit team didn’t meet, or, had trouble meeting their due date. (We assign due dates for projects based on budgets, and allow the team members to determine when, where and how they will perform the engagement, rather than attempting to micromanage their time and daily lives.) After hearing this refrain / excuse for the umpteenth time during one of our recent after action reports for a very good client, I reminded the offending senior of the purpose of our use of Client Service Agreements and why we have change orders. Read more…
Long known for our inability to communicate effectively either orally or verbally (yes there is a difference) as accountants we’ve found new facades to hide behind. Our communication with our clients is typically limited to brief general conversations, and written communications mandated by professional standards, such as engagement letters. The email / text message / voice mail have supplemented the traditional letter facilitating the anonymity so many in our profession seem to prefer, with the frequent result being misunderstanding or no understanding at all. Read more…
In the years since I began practicing, our profession has changed radically. I do not want to sound like my parents and grandparents who lamented the passing of the nickel candy bar, 1 cent stamps, and walking to and from school ( up hill, both ways in the snow of Southern California), but are we progressing or regressing in terms of advancing the profession of public accounting and making it an attractive career? What are the underlying currents that influence or even drive change? Read more…
Last week we were informed we had been selected by Accounting Today as one of the top accounting firms to work for in the United States. I understand there will be an article published in January, 2009. How did we go from being a firm that had the universal difficulty of other accounting firms – attracting and retaining top talent – to being named to such a prestigious club in four years?: We changed our business philosophy, and consequently our overall approach to providing service, after following the traditional accepted approach for 25 years. Read more…
In a recent post on Trendlines, Gary Boomer held forth on the staffing crisis in our profession. Succinct and to the point, Boomer lists four reasons. While all four are valid, my experience over the past five years has identified one as being most significant – Firms with low retention and high staff turnover work their associates too many hours. It’s not rocket science. Read more…
Just read Michelle Golden’s post on sending out mass mailings. I thought it was very funny, and says so much about why we are so turned off by most of the mail we get today.
But most of all, I thought it also shows the value of criticism. I read the other day, that the best thing you can hear as a company is a criticism, because that’s when you have the chance to improve. If you never hear them, you can never get better. Read more…
I hailed from a large international accounting firm and like most of my coworkers there I became sick of the long work hours and never ending cycle of stress and emotional guilt tripping that comes with trying to justify going home after just ten or twelve hours. Searching for another job was difficult, as I rarely had a minute that wasn’t filled by working, commuting or sleeping. But the most substantial barrier to quitting my big accounting firm job was the myths that circulated concerning small firms. Read more…
Did you suck at ‘Economics’ in college. I did. So when my friend and mentor, Ron Baker, recommended that I read The Economic Naturalist by Robert Frank, I smiled politely, assured him I would, and then blew it off. (I did buy it, just so I could document my intent and not feel entirely guilty for lying through my teeth.) Last week, I again found myself in an airport, having mistakenly thrown this tome in my computer case, thinking it was an adventure novel. With no other entertainment, besides trying to determine which passenger had the worst hang-over in the Las Vegas airport, I read the book. Read more…
After writing my first blog post, “Intern’s Corner: The Big Four Push” I began to think about how does one choose the right firm. I am lucky enough to have had to opportunity to experience different firms and different values over the past two years. I have been a member of Beta Alpha Psi (BAP) in that time period. By having those opportunities, I feel that I have been able to explore different options, and I know what is right for me. These are the steps that I took when choosing the firm I choose Read more…
