A Distributed, More Virtual CPA Firm and A&A Practice
Many firms are exploring how they can adopt a more virtual business model to support a shift to remote work while also ensuring customers are cared for and have a positive experience. In the world of audit, there are steps firms should take today to more holistically digitize their financial statement services to drive efficient, high-quality work and value for clients.
To help audit and assurance (A&A) firms quickly adapt to the current business landscape and transition their firm and A&A practice to a remote working environment, we have curated and developed resources around some key areas where we feel we can most help transform firms and this practice area.
This page will be continually updated in the weeks ahead.
Questions? We are here to help.
A&A Business Continuity in 2020
How can you run your audit and assurance business in this shifting environment? How can technology support this? In 2020, change in key areas is no longer optional as A&A firms:
- Enable A&A staff to work effectively with a Cloud-based work eco-system with clients and each other
- Enable a remote A&A workforce
- Help clients with their newly critical needs and act as even more of a trusted advisor
- Standardize on electronic report delivery, tracking and management
Kim Moore, Director of Audit at SummitCPAs, joined us for a LinkedIn Live session to share wisdom and practical advice for auditing firms who are trying to adjust to remote working conditions.
Ensure you and your clients stay connected and in sync, this means evolving the pre-engagement meeting, the engagement wrap-up meeting and everything in-between.
Professional Electronic CPA Report Delivery at no cost
Staff and Team Engagement
Look at how changes in technology and process can help keep your team working together effectively from anywhere.
Upskilling Inflight – Special session from Digital CPAMany firms are considering new skills and competencies they need to deliver the services of today and tomorrow, but we don't have the luxury to suspend the client work to prepare for the future. How do we continue excellent client work while focusing on new capabilities? In this session you will hear approaches to upskilling to be ready for future relevant services, while tending to the important work in front of us.
Revisiting Staffing and Cultural Challenges in Attest ServicesJason Miller (Partner) and Meg Hampton (Audit Supervisor) at Anglin Reichmann Armstrong peel back the curtain to discuss some positive takeaways from their firm’s journey during these challenging times.
Technology Resources and Special Offer
Explore how technology can strengthen your firm’s efforts right now.
Professional Electronic CPA Report Delivery AT NO COST
With the in-person CPA firm-client meetings to begin and wrap-up engagements no longer possible in most areas, CPA.com is providing free access to cloud-based audit report delivery through RIVIO Clearinghouse.
RIVIO Basic subscription is available for new firm customers and their clients through September 30, 2020. *This offer supports peer reviewed CPA firms that sign up by 6/30/20.
How to sign up for RIVIO Basic subscription offer:
- Visit RIVIO.com and complete the registration process.
- Upon logging in after setting up your password, you will be prompted for your billing information.
- Enter your credit card information and promo code RIVIO2020 to receive free access through September 30, 2020.
Billing will begin on October 1, 2020 (for the RIVIO Basic Subscription, pricing starts at $39/user/month) and firms can cancel, upgrade or otherwise change their RIVIO Basic subscription anytime through September 30, 2020.
* A validation process occurs to confirm CPA firms are licensed and current in their peer review requirements. Once this is confirmed, firm will receive an email “You’re now validated to use the system,” and can begin using RIVIO as soon as all steps above are completed.
About RIVIO Clearinghouse
RIVIO Clearinghouse provides a way for CPA firms to securely deliver audit reports and other financial documents with private company clients and add value by enabling clients to distribute those financial documents to lenders, regulators, and other stakeholders. The platform facilitates a more streamlined, efficient process while protecting CPA-prepared documents from alteration.
Collaborate Effectively in Real-time
Ensure your team and clients stay connected from anywhere with these cloud-based solutions.
of accounting professionals reported that “Receiving information from clients in a timely, complete manner” was their top assurance engagement challenge Source: 2019 CPA.com Poll of 400 accounting professionals.
Learn about these solutions by attending an upcoming product webinar
Upgrade Your Financial Document Exchange with RIVIO
Offered twice a month
Members of the A&A community share how virtual solutions are supporting their transition to a distributed workflow.
“There are so many times that a client will email us and ask for copies of old financial statements. With RIVIO, we have a permanent online repository of this information that clients can easily access themselves, without having to call us. It’s better for us — and better for them.”
Jeremy Dilliard, Partner, SingerLewak
“This is an historic time for CPA firms to help their business clients and play the trusted advisor role,” said Erik Asgeirsson, president and CEO of CPA.com. “We are hearing from many firms that their clients are so thankful they implemented cloud-based operating. Those firms that have already embraced cloud solutions are well positioned to be trusted advisors during this time of need. Firms that have not are scrambling a bit.”
Erik Asgeirsson, President and CEO of CPA.com
“For us, it was important to have a single, centralized tool for managing our work — to move away from the piecemeal approach that was holding us back. Now I can’t imagine us doing this work any other way. We’re moving almost totally online, not really using paper anymore.”
Larry Lowery, Partner, The CPA Group
Transitioning to a Distributed CPA Firm: Educational Videos
These educational videos have been curated to help you deepen your knowledge in topics such as new skills and competencies, technology, staffing, and gaining a competitive advantage through simplification and innovation. Click each video to learn more.