Becoming a certified public accountant (CPA) is a testament to an accountant’s commitment and proven expertise in the field of accounting. Although becoming a CPA is an impressive accomplishment, it doesn’t necessarily make an accountant uniquely qualified to handle your needs. There are thousands of CPAs in Phoenix, some of whom may be better for you than others.
Doctors and lawyers who are at the top of their graduating class frequently advertise that fact as a point of pride. What we tend to conveniently forget is that there’s also a bottom of the class. The person ranked last earned the same M.D. or J.D. as the person ranked first. Future patients or clients of those doctors and lawyers might never know they’re visiting a bottom-of-the-class professional.
A version of this logic can be applied to CPAs. In Arizona, CPAs have to score at least 75 on each American Institute of Certified Public Accountants (AICPA) exam section and a 90 on the professional ethics exam to earn their credential.
When you’re looking at Phoenix CPAs to hire, you likely won’t know whether the person scored 99 or 75 on their CPA exams, or where they ranked in their university class. As such, it’s often best to base your hiring decision on criteria you can see and assess.
The purpose for which you need a CPA should help guide your choice. In some cases, there may be additional certifications that you’ll want to seek out in a CPA.
CPAs with advanced skills and training may come at a higher price point. SMBs with more general accounting or consulting needs may be better served by working with CPAs who possess a well-rounded and consistent book of business.
Working with a small to mid-size local accounting firm that has maintained customer relationships for many years is often a safe bet. Client retention is typically a reflection of client satisfaction.
While the CPA certification does tell you something about an accountant’s general level of knowledge in the areas covered by the exam, it doesn’t necessarily mean the CPA is familiar with your business or the unique challenges you face.
When you consult with a CPA, be sure to ask them general questions about their past and current clientele. Ascertain whether they’ve worked with businesses in your industry or other companies that have operational needs similar to your own.
Be sure to ask a CPA about any unique concerns you have. Maybe you’re a retiree who just used a Section 1031 exchange to invest the proceeds of a second home sale into a Delaware Statutory Trust (DST). The tax implications can be complex, and the tax prep tedious. You not only need to find a detail-oriented tax preparer but one who is up to date on IRS requirements and the forms required to avoid an audit.
Ask specific questions about the CPA’s experience handling situations like yours or posit scenarios and listen to what they’d recommend or how they’d approach your situation.
Effective communication is vital in the CPA-client relationship. A competent CPA should be able to explain complex financial concepts in understandable terms. Accessibility is equally important; your CPA should be responsive and available to address your queries and concerns. Regular updates and proactive communication are signs of a CPA who values client relationships and is committed to your financial well-being.
CPAs are bound by a code of professional conduct that demands integrity, objectivity and ethical behavior. Ensure that your CPA has a clean professional record with no history of ethical violations. Professionalism also extends to how they manage confidentiality and handle sensitive financial information, reflecting their respect for client privacy and trust.
In today’s digital age, proficiency in technology is a must for any CPA. Not only does it enhance efficiency, but it also ensures accuracy and security in managing financial data. H&H Accounting Services provides QuickBooks support and is a Certified QuickBooks ProAdvisor. We can help you navigate and leverage QuickBooks for financial reporting, analysis and planning to streamline the financial management of your business.
Trust your instincts about a CPA's demeanor, approachability and understanding of your personal or business goals. A CPA who listens, empathizes and aligns with your financial vision can be a valuable ally in your financial journey.
The Phoenix metro area is home to thousands of accountants working at dozens of public accounting businesses. At H&H Accounting Services, we appreciate that there’s a lot riding on the work we do for our clients, from compilations to tax preparation. We want to ensure you’re comfortable with your choice of accountant, which is why we provide free one-hour initial consultations to all prospective clients. Call us at (480) 561-5805 to find out if we’re a good fit for your accounting needs.
