News

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Michigan’s Path to Updating CPA Licensure

Recent changes to the Uniform Accountancy Act (UAA), the accounting profession’s model law developed by the American Institute of CPAs (AICPA) and the National Association of States Boards of Accountancy (NASBA), offers states a standardized way to adopt an additional pathway to CPA licensure.

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Who are the Best Buyers When Selling an Accounting Practice?

Believe it or not, when selling an accounting practice the best buyer is not a larger firm. It is usually an individual, and frequently a current employee of a practice near you, or someone coming out of a large or regional firm who is looking for platform to build on. This is true for a couple of reasons.

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Tariffs Explained: What Businesses Should Know

Employers should understand the tariff evolution – from a tax to any potential trickle-down effect on the workforce. Now is the time for businesses to review and evaluate current processes impacting everything from how to manage costs to how to maintain your edge in the constant battle for talent.

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Engagement Letter Do’s and Don’ts

Signed engagement letters help CPA firms improve communication with clients and protect the firm from litigation as “the first line of defense.”

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Loss Prevention Trend: The Information Security Plan (“ISP” or “WISP”)

My firm has a Written Information Security Plan (“WISP”), but it hasn’t been updated since early 2023. How often should we be reviewing/updating our WISP?

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Consequences and Financial Penalties: The Hidden Cost of Noncompliance

Business compliance means that your business adheres to all applicable laws, rules, and regulations established by local, state, and federal government entities and agencies. Understanding noncompliance and what it means for your business goals, HR policies, and hiring practices can help you avoid associated risks and penalties.

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Reclaim Your Time: 3 Solutions for Reducing Admin Work

Do you often find yourself buried under a pile of administrative tasks, taking valuable time away from client work? You're not alone. According to the 2023 Accounting Practice Management Survey, accountants spend just 55% of their time working with clients—with the rest dedicated to administrative matters.

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Who Should Bear the Risk Of Client Retention?

The fear is that the change of ownership itself will cause clients to leave the firm for a competitor or start doing the work themselves.  Everyone has a horror story about someone who bought a practice and lost two-thirds of the clients.

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The Michigan Association of CPAs Hosts 2024 Awards to Honor the Brightest and Best in Accounting

The Michigan Association of Certified Public Accountants (MICPA) announced the winners of its 2024 awards program, Celebrate, which recognizes the outstanding contributions of individual and organizational leadership today, while paving the way for the leaders of tomorrow.

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A Guide to An Effective and Competitive 401(k) Plan

With over 25 years of experience advising on 401(k) plans, I’ve seen firsthand how a well-structured retirement plan can be a game-changer for businesses. For CPAs looking to expand their advisory role, understanding workplace retirement plan options is crucial to offering tailored, value-added recommendations that align with a client’s goals and needs

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