Selecting a CPA
How to Select a CPA
Before you select a tax adviser, accountant, or personal financial adviser, make sure you consider the following questions:
- Is the individual a certified public accountant?
- Is the CPA licensed to practice in your state?
- To what professional organizations does the CPA belong, and how active is he or she in those organizations?
- Are your needs compatible with the CPA’s personality and expertise?
Don’t underestimate the importance of the CPA designation. Remember, those three letters are awarded only to those individuals who have passed a rigorous two-day uniform national examination. CPA’s are distinguished from other accountants by stringent state licensing requirements. Most states require CPA’s to have at least a college degree or its equivalent, but several also require post-graduate work. Membership in professional organizations is also an important qualification. All (AICPA) American Institute of Certified Public Accountants ( & Georgia Society of CPA’s members are governed by a code of professional ethics that is among the most exacting of any profession as well as undergoing a review of their accounting and auditing practice once every three years.
Members must also satisfy extensive continuing education requirements being required to have completed 150 semester-hours of higher education prior to joining the Institute.
Compatibility, the last qualification to look for in a CPA, is harder to define but is just as important as technical proficiency. Make sure that the CPA’s personality and expertise match your needs. Keep in mind that a long-term working relationship between you and your CPA can help you take an informed, consistent approach to personal financial and business problems – and may help you meet your financial goals.
How Can You Get the Most Value From a CPA’s Services?
Although all CPA’s meet substantially the same education, training and licensing requirements, they do not all provide the same range of services. Therefore, when looking for a CPA, you should analyze your current and future financial needs and select someone who can address your particular concerns.
CPA’s themselves have some suggestions on how you can make the best use of accounting services and get the most value for your fee. Here are just a few of them:
- Be prepared to discuss your plans and objectives. CPA’s are in the best position to advise you and serve your interests when they understand the goals you have set.
- Gather information about business or personal financial decisions under consideration so you can ask the CPA specific questions.
- Clearly explain what you expect from the CPA’s services.
- Save yourself unnecessary fees by keeping good records and not using professional time for routine work.
- Keep your CPA informed of changes in your personal and professional life. A recent marriage or divorce, the birth of a child, a career change, or an especially generous bonus all can have a significant impact on your tax liability and personal financial goals.