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lesEach week, the General Partner will post his take on the current financial situation, including his take on how these issues will impact, clients, consumers or the industry in general.

TEN FACTORS NECESSARY TO THE CHOICE OF A GOOD ACCOUNTANT
By Les S. Thompson, CPA, Les S. Thompson & Co., LLP

Editor's note, Managing partner Thompson uses these points in discussion with prospective clients to help distinguish his firm.


Capability
Must have the training, expertise, and resources to do the job, to give advice, and provide leadership.
Reliability
Must be able to complete the assignment on time, resulting in no penalties due to delay. Final product must be credible and able to withstand challenges and questions.
Professionalism

Must belong to an organization (state or national society) that monitors competence and ethics; should be able to produce evidence of membership and competence.

Knowledge
Must be familiar with industry or show aptitude and willingness to learn the intricacies of the business.
Respectability
Must be respected by his/her peers and by professionals in other institutions such as banks, the IRS, and investment institutions. Must be able to assist you when you deal with these institutions
Accessibility
Must be available on short notice to respond to problems and answer questions. May not be personally available at all times, but must have capable assistants with the authority to respond.
Compatibility
Must be easy to deal with; must respect you, your employees, and your customers. Must be big enough to provide adequate service but small enough to give advice relevant to your business
Currentness
Must be alert to the constant changes in the laws, rules, and regulations affecting your business and industry; must keep you adequately informed of these change and, when appropriate, apply them to your business
Cost
Must not charge too little lest the job not be adequately done; must not charge too much lest it hampers your ability to fund the other parts of your operation.
Legality
Must meet the stringent requirements of the state to provide you the best advice and service. Must be a Certified Public Accountant (CPA) licensed to practice in your state. It is the highest level of the profession. For your business's survival, only the best should be good enough

Reprinted with permission from the CPA Journal, February 1997, ©1997