With the advent of Quickbooks, TurboTax, and other similar computer software programs, many businesses and individuals are doing more of their own bookkeeping and taxes. The role of the CPA is changing. CPA’s are taking a more active role in helping businesses analyze their operations. We can be an objective observer that can help develop plans or solve problems. Many businesses have developed a relationship with their CPA. This trusting relationship can be very beneficial, since a CPA knows the most intimate details of the company.
CPA’s are required to be licensed in the state they are performing services. They are regulated by the state and are required to take continuing education classes to keep current on tax and accounting regulations. They can represent you with the IRS. An accountant that is not certified or an enrolled agent can’t represent you.
CPA’s can issue a financial statement with an opinion. It makes the reader more confident that the numbers represented on the statements are real.
CPA’s roles are changing. We are taking a much more active role in the planning aspect of our clients lives, rather than the reactive role of reporting the results. We can assist in tax planning and financial planning for both individuals and businesses.