why compliance still matters. but it’s not enough.

resistance is futile… and silly because it’s necessary for the profession.

the smartest route to advisory:
join the survey. get the roadmap

by donny shimamoto, cpa, citp, cgma
the center for accounting transformation

in the world of accounting, compliance work is often seen as the unglamorous side of the profession. but what if i told you that compliance is the heart and soul of accounting, the unsung hero that makes advisory work possible?

more donny shimamoto:  how trusted advisors transform businesses | the future of accounting: a vision of trust, clarity, and hope | donny shimamoto: future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
 exclusively for pro members. log in here or 2022世界杯足球排名 today.

let’s explore the importance of compliance work in the accounting profession and why it’s time for us to stop minimizing its significance.

compliance work establishes the foundation of trust

just like a sturdy building requires a solid foundation, successful advisory work in accounting depends on accurate and reliable compliance work. by establishing a baseline, compliance work ensures that the underlying data is sound and trustworthy, allowing accountants to build on that foundation with confidence. in a world where data analytics is driving more critical decisions, quality data is more important than ever. without accurate bookkeeping and tax returns, even the most sophisticated data analytics tools are rendered useless–garbage in, garbage out.

compliance as a launching pad

compliance work is not only the backbone of accounting but is also a powerful starting point for engaging in larger conversations with clients. a well-executed compliance process paves the way for meaningful dialogue and proactive advisory services, allowing accountants to understand their client’s needs and challenges truly. by embracing the value of compliance work, we open the door to deeper connections and more impactful advisory services.

compliance done right

one of the biggest issues facing the accounting profession today is the subpar quality of compliance work. when compliance is done poorly, it undermines the integrity of the entire advisory process, making it impossible to provide accurate, actionable insights to clients. for this reason, it is imperative that we commit to doing compliance work with the highest level of quality and constantly strive for improvement.

where efficiency meets quality

the goal is not to eliminate or downplay compliance work’s importance but to optimize it, making it more efficient without sacrificing quality. by streamlining compliance processes and leveraging technology, we can create more time and space for more impactful advisory services. this optimization is essential in helping accountants provide the best possible service to their clients, maximizing the value of their work while building lasting relationships.

in the end, compliance work is the heart and soul of accounting – the foundation on which we build trust, understanding, and enduring relationships with those we serve. by refusing to minimize its importance and ensuring it’s done with quality, we lay the groundwork for more effective, intentional advisory services. by optimizing compliance and making it more efficient, we create opportunities for meaningful conversations that lead to advisory engagements and deeper relationships with our clients. 

the smartest route to advisory:
join the survey. get the roadmap

posted on july 22, 2023