The VBOA cannot refer or recommend a CPA but recommends these resources:
The VBOA cannot refer or recommend a CPA firm but it is important to verify that:
- The firm is lawfully operating as a business.
- The firm has complied with licensing laws.
- The firm has complied with any practice monitoring program or peer review requirements.The VBOA requires all CPA firms to be enrolled in and comply with the requirements of a practice monitoring program as a condition of issuance and renewal of the firm CPA license. Enrollment can be verified through the American Institute of Certified Public Accountants (AICPA).
- Verify any disciplinary history or adverse administrative action against the firm.
CPAs often use a contract known as an engagement letter. The engagement letter defines the legal relationship between the CPA and client by including the following:
- What services will be performed?
- When the services will be completed?
- What is expected of the client and CPA?
- How much will be charged?
- Signatures of parties involved
It is encouraged to keep a copy of the letter so when questions arise the letter will be a useful resource. The engagement letter should be updated when services or fees change.
Refer to the AICPA Code of Professional Conduct for guidance regarding these topics.