So you’ve decided you need the services of a certified public accountant (CPA). But what should you expect from a CPA and what questions should you ask to make sure you get the best possible service? Here are a few questions to help you get started.
63 Questions you can ask a certified public accountant:
- What experience do you have with my type of business?
- What services can you provide me?
- How much do your services cost?
- Are you licensed in my state?
- Do you have malpractice insurance?
- What are your qualifications?
- What accounting software do you recommend?
- How often should I update my books?
- Can you help me reduce my taxes?
- Do you offer discounts for small businesses?
- Can you help me expand my business?
- Do I need to provide anything for you to get started?
- What is your policy on confidentiality?
- Do you have any references I can contact?
- How often will we need to meet?
- What is your policy on communication outside of meetings?
- What happens if I need to cancel or reschedule a meeting?
- Can I call you with questions outside of our scheduled meetings?
- What is your policy on overtime charges?
- Would you be available for an audit by the IRS?`
- What accounting designations do you hold?
- How long have you been practicing as a CPA?
- What accounting software do you feel most comfortable using?
- Have you ever encountered any ethical dilemmas in your work? If so, how did you resolve them?
- What is the most important trait of a successful CPA?
- In your opinion, what is the biggest challenge facing CPAs today?
- How do you keep up with changes in tax laws and regulations?
- What other services do you offer clients?
- Do you have any experience providing consulting services?
- What is your process for onboarding new clients?
- Do client meetings take place in person or virtually?
- How do you communicate with clients outside of scheduled meetings?
- What are your office hours? Are evening or weekend appointments available if needed?
- How do you bill for your services?
- Do you offer any discounts for certain services or payment plans for retainer-based services?
- Do you have liability insurance? Are your employees bonded?
- What other steps do you take to protect client information and maintain confidentiality?
- What is your approach to bookkeeping and accounting?
- How do you handle tax Planning and Preparation?
- What would you say are your strengths and weaknesses?
- Have you ever been disciplined by the state board of accountancy?
- Are you a member of any professional organizations?
- What education and continuing education credits do you have?
- How do I know if I need a CPA or an accountant?
- What do you think are the most important financial metrics for my business?
- What tax-saving strategies would you recommend for my business?
- What do you think is the most efficient way to structure my business’s finances?
- How can I improve my business’s cash flow?
- What are some red flags that I should be aware of when it comes to my business’s finances?
- Can you help me interpret my financial statements?
- Can you help me develop a budget?
- Should I be using accrual or cash-basis accounting?
- How often should I review my financial statements?
- What records should I keep for my business?
- Can you help me set up a system for tracking expenses?
- Should I be using software to manage my finances, and if so, which software would you recommend?
- Do I need to be concerned about double-entry bookkeeping?
- How can I make sure that I’m keeping good financial records?
- Can you help me understand the difference between gross margin and markup?
- What are some common mistakes businesses make when it comes to their finances?
- How can I tell if my business is making enough profit?
- What are some warning signs that my business is in financial trouble?
- Can you help me develop a financial plan for my business?
Frequently Asked Questions
What are the responsibilities of a CPA?
A CPA is responsible for a variety of tasks to ensure the accuracy and completeness of financial statements. They must compile data, prepare reports, and review financial records. They must also ensure compliance with tax laws and regulations. CPAs must also stay abreast of changes in accounting and standards.
Is hiring a CPA worth it?
Hiring a certified public accountant can be a great way to save money and make sure your taxes are handled correctly.
When you hire a CPA, you can be sure that your taxes are being handled properly and that you’re getting the best possible advice to minimize your tax liability. CPAs can also help you keep track of your business’s finances and advise you on how to grow your business.
Overall, hiring a certified public accountant is a great way to protect yourself and your business, and often worth the investment.
Conclusion
By asking the right questions, you can ensure that you find the best possible CPA for your needs – someone who is qualified, experienced, and trustworthy. We hope this list of questions gives you a good starting point for finding the perfect CPA for your business!
