Comment on When Accountants Don’t Know They Don’t Know by Ed Mendlowitz: Here are some of my specific suggestions: • Find out if there are any specialized practice requirements for the client’s industry. Government, not-for-profits with federal grants, foreign ownership of U.S. businesses, partnerships or real estate, employee benefit plan audits and construction contractors are some that have specialized qualification and/or reporting requirements. Search the web, go to the AICPA and PPC websites for practice aids and procedure manuals; ask your peer reviewer, if you have one; and find out if your state CPA society has a committee for that specialty and call the chairman or their hotline • Search the Web to find articles on that specialty • Call the industry association, if any, and see if someone there could help you • Call a more experience CPA you know to see if they have clients in those areas • Find out what states the client does business in and then call a CPA in those states to find out any special state tax compliance or filing requirements. Also go on line and get the state tax form instructions and also forms to register new businesses in that state cpaclick/1rfv6l2
Posted on: Sun, 20 Jul 2014 15:52:06 +0000