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Choosing a CPA

The VBOA cannot refer or recommend a CPA but recommends these resources:

Choosing a CPA firm

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.

Engagement letter

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.

Referral fees, contingent fees and commissions

Refer to the AICPA Code of Professional Conduct for guidance regarding these topics.