Ask Samuel: Is it time to change CPA Firms?

Dear Samuel,

I am a CFO of an owner-managed company. In recent years, our CPA firm has not been servicing us properly.

They are always pushing our deadlines to the limit, even when all the information they have requested has been delivered in a timely fashion to them. We also recently had a significant interest charge from the IRS because they ‘forgot’ to file a form on time.

I like the partner in the firm, but I don’t find that we are getting the service we need. Is it time to change CPA firms?

Fed up in Phoenix

Dear Fed up,

If you look at our CFO Relationship Map, you will see that the CPA firm is an important external relationship that needs to be nurtured for a CFO.

It is unfortunate that you are not satisfied with the service from your CPA firm.

Changing CPA Firms is an option. Before you do so, I would recommend that you sit down with the most senior person at the firm you deal with to see if you can find solutions to your dissatisfaction.

If you decide that it is time to change CPA Firms, I recommend that you get referrals to other firms from other CFOs you know, as well as your bankers. You should do a preliminary review of the services of a few CPA firms, and reduce the list to 3 of your top choices. Ask these 3 top firms to meet with you and prepare a proposal.

When making your choice for a CPA firm, make sure that when you assess the proposals, it is not solely based on price, but on the work they will be doing, as well as the service levels they will be committing to. This is important – because the reason you left your previous firm in the first place was not because of price, but because of service.

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