Dear Business Owner,
We are seeing all kinds of changes coming to the world of accounting, the technology is advancing rapidly, “niche firms” are popping up. They are selling:
- Cloud Accounting Applications like Xero and QBOnline
- Functional Financial Add-Ons like bill.com, expensify.com, chaser.com crunchboards.com,
- Collaboration and storage likes box.com, Google Drive, eFiling Cabinet and Dropbox for Business
The are all kinds of ways to vet the software vendors including website reviews, and software reviews.
What about the service provider, how do you vet them. We have raised a number of issues in prior posts about:
- Individual CPA Licensing
- Firm CPA Licensing
- Peer Review
- Membership in Professional Organizations
Now let’s look at some other ideas…what if….you could retain a firm with significant experience to help review:
- The proposed service provider for virtual bookkeeping, bill payment, controller or virtual CFO. There are measures, procedures and inquiry that we would use to investigate such as procedures which are part of an SOC Attest engagement.
- How about assisting in the choice or review of insurance coverage for identity theft, data breach, data loss,etc.
aBIZinaBOX has started the process of discussing what such an engagement might look like with a number of the CPA professional liability insurance carriers, business insurance carriers, CPA professional organizations and is actively seeking businesses that might use such a service to scope out the proper level of diligence, and review which could be performed. We would greatly appreciate the opportunity to speak with business owners that would like to better understand.