A Ten-Year Vision of Our Profession – what will staffing be like then?
The year is 2014 and the Telecommuting and Flexible Work Schedule Act has been passed . It is now illegal to force employees to physically work more than 20 hours a week in the office. Workers are using wrist PC’s
from remote locations to recreate and work simultaneously. A new niche in mental health care has emerged to take care of elderly CPA’s, anyone over 45, who actually spent the first twenty years of their life working. The
latest generation of new workers, the Xt generation, is extremely selective about what they do and how they spend their day. The available supply of people willing to work has dropped to 50% of the population. The retirement
of 40 million baby boomers has created such a huge demand for employees that firms are firing clients and only servicing the ones staff will work on. Read
Full Article >>
Outsourced tax return preparation is not bleeding
edge. It may sound like a strange concept, but it is evolving past the early adopters stage and moving into a mainstream, common practice in many CPA firms. Outsourcing can be compared to the technology revolution
of the 80’s.Twenty years ago firms were beginning to convert from manual files to computers. This was a significant break in the way business was conducted. It required a change in well-established work
habits and an investment in training and equipment. Read Full Article >>
AICPA - Exposure Draft
On August 9, 2004 the AICPA issued an exposure draft that focuses on disclosure to clients and the responsibility for maintaining confidentiality of client data.
Our summary of this is:
Firms need to inform clients before sharing data that they may use a third party to help with their services.
Firms are responsible for all client work done, whether the work is performed by in-house personnel or a third party provider.
Firms who share client data with any third party need to enter into a written agreement with them to maintain the confidentiality of
client data.
Outsourced tax return preparation is not bleeding
edge. It may sound like a strange concept, but it is evolving past the early adopters stage and moving into a mainstream, common practice in many CPA firms. Outsourcing can be compared to the technology revolution
of the 80’s.Twenty years ago firms were beginning to convert from manual files to computers. This was a significant break in the way business was conducted. It required a change in well-established work
habits and an investment in training and equipment. 
On August 9, 2004 the AICPA issued an exposure draft that focuses on disclosure to clients and the responsibility for maintaining confidentiality of client data.