Important Questions To Ask A Prospective CPA Firm

There are few relationships in business today that are more important than your relationship with a CPA firm. When selecting a firm, you should ask a series of questions that will help determine who can add value to your business, offer long-term service, and provide advice with a high level of comfort and confidence. We’ve provided our answers to the questions you should be asking below.

Does the firm provide personalized service and have the resources that my business requires to grow and succeed?

Every client is important to Withum. Through our experienced staff, industry-leading technology, and the research tools available to us, we have the resources that our clients deserve and expect. Coupled with our client service philosophy and dedication to proactive, frequent communication, we ensure that our clients receive professional, responsive, and personalized service.

Beyond traditional tax and accounting, can the firm provide advisory services to my business?

Withum’s Advisory Services practice is made up of professional consultants in the areas of management consulting, cyber and information security, business advisory, digital solutions, risk advisory, and SOC services, to name a few, to ensure your business strategy is aligned with the technology, processes, and data that help you succeed.

Does the firm have extensive industry involvement to understand our needs and concerns?

Withum has extensive industry experience serving over 300 hotels, vacation ownership, timeshare, condominium association, owners association, developer, management company, and exchange companies. Our Hospitality team members are recognized as thought leaders, speakers, and published authors for various publications. We understand the ins and outs of the industry as having the depth and breadth of intelligence and experience across numerous industries and regions allows us to better serve our clients from all angles.

Is the firm enrolled in an AICPA-approved practice monitoring program and, thus, subject to the peer review requirements that such enrollment entails?

In 1977, Withum became one of the first non-national accounting firms to voluntarily join the American Institute of Certified Public Accountants (AICPA) SEC Practice Section and the Private Companies Practice Section, subjecting the firm to a peer review every three years. Since then, the AICPA, which provides oversight to firms across the U.S., has recognized Withum for its fourteen consecutive passing peer reviews. In addition, we are members of the AICPA’s Employee Benefit Plan Audit Quality Center, the Governmental Audit Quality Center, and the Center for Audit Quality. These Centers require CPA firms to meet additional educational and industry knowledge standards.

Is your firm dedicated to a continuous learning process?

Every member of our professional staff meets or exceeds the continuing education requirements set forth by licensure and regulatory organizations. Additionally, each staff’s individualized training plan includes additional leadership training and other enrichment programs to promote a continuous learning culture.

The answers to these questions should give you a higher level of confidence that you have properly reviewed the capabilities, experience, reputation, and chemistry of the firm you select. This should result in a long-term and beneficial relationship with your accounting, tax, and consulting professionals.

Withum is a forward-thinking, technology-driven advisory and accounting firm, committed to helping clients in the hospitality industry be more profitable, efficient and productive in the modern business landscape. For further information about Withum and their hospitality services
team, contact Lena Combs (LCombs@Withum.com) at (407) 849-1569, or visit www.withum.com.