Is Your Firm’s Tax and Audit Technology Good Or Good Enough?


As we head into to the fall and year-end, many CPA firms are evaluating their systems and processes in advance of tax season. Good idea. There is no better time than now to fix what’s broken and improve what you can. Come January there is very little bandwidth or opportunity to fix anything. It would be like trying to change the tire of a car moving 65 mph.

Reviewing the systems and processes is relatively easy. More important to this exercise is determining the answer to this question: What does better look like?

The technology footprint in a CPA firm is often very complex. There tend to be many different solutions, often operating on different platforms, to run their audit and tax processes. Add in the inevitable one-off Excel spreadsheet or Word doc that everyone uses and the environment becomes even more difficult. Finding the path to better isn’t obvious.

Here are some thoughts to help you get there:

  1. Look for low hanging fruit: Quick wins can often be found in places like client engagement letters and tax organizers. Although these aren’t massive improvements, they will make a difference – and they can be knocked off easily.
  2. Look into workflow: If you don’t currently have a workflow solution, look into it. If you do, make sure it allows you to apply business logic to your workflow process. If not, you are missing a big opportunity for improvement.
  3. Look for integration opportunities: Integration means more accuracy, less redundancy, and reduced compliance risk. Here’s how to make that better.

What does better look like for your firm? Let us know.