why you can’t skip checklists

do you want tax returns fast or right?//m.g005e.com/2021/03/23/17-basic-expectations-of-partners/

by ed mendlowitz
how to review tax returns: the field-tested update

this is an area i feel very strongly about, and it is a major reason for the success of the better firms and the lack of growth of smaller firms.

more: tax review procedures are your quality control | seven types of tax return reviews | how to turn tax returns into new business
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by my way of thinking, a system must be established to assure the greatest quality at every level, reduce the number of touches per return, and present the client with the type of return he or she is relying on you to deliver. this system only works if there are the right processes and procedures and a strict adherence to them, and this includes the careful and deliberate use of checklists.
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tax review procedures are your quality control

six questions to ask yourself.

by ed mendlowitz
how to review tax returns: the field-tested update

the purpose of tax return reviews is to assure the quality of the return.

more: seven types of tax return reviews | how to turn tax returns into new business
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quality should be defined as an accurate product along with pertinent and applicable tax law benefits applied as well as planning opportunities identified so the client could maximize their financial wealth and security.
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forensic techniques can be fraud deterrence

businessman manager using tablet check and control for workers with modern trade warehouse global business commerce concept or import-export commercial logistic.bonus: 11 examples of “control culture” services.

by ed mendlowitz

trained forensic professionals investigate accounting and financial transactions that are, or will become, subject to legal proceedings. it is an early step in a potential war, and many times it is the first shot.

more: six benefits of an internal audit | the ten financial controls that’ll make you a hero | five cash reports you can’t live without | when an audit is a great thing
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attorneys and c-level executives are often not familiar with forensic techniques and see them as a means to quantify a loss. financial forensics also provides a means to deter and detect fraud. today, i share my views on the value of forensic techniques used to deter fraud and encourage cvas to consider attending the cti’s forensic accounting academy™ or fraud risk management courses offered through the maff programs.
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tax return prep: commodity or professional service?

two businessmen talking across a deskthink of where your value is added.

by ed mendlowitz
how to review tax returns: the field-tested update

question: are tax returns commodities or the result of a professional service?

more: seven types of tax return reviews | how to turn tax returns into new business
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answer re: commodity

if you believe tax returns are a commodity, then you will also believe there is no product differentiation and the business should go to the lowest cost provider. there is nothing wrong with you thinking this way and running your practice accordingly.  however, you should still want to provide a complete and error-free tax return.
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anatomy of a fraud

can you spot the five accounting weak points?

by ed mendlowitz
77 ways to wow!

in this fraud, ing, an extremely large and well-known financial services company, had approximately $8.5 million stolen from it by a single employee for a little more than four years.

more: six benefits of an internal audit | the hazards of poor internal controls | rule #1: start with cash | the priorities were backward | how to read a financial statement | 77 thoughts about client needs
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here’s how it worked:

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