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Financial Solvency

Did you find a CPA for your team yet? You probably have  a bookkeeper, but you want an independent CPA firm at your beck-and-call. The better off you think your company is during this economic situation, the more you might want to panic. So far I have seen two companies fall this year because their books were being cooked. Money was disappearing right from under the owners nose!

So what do you need to do – have your books audited by an external, independent CPA. A few reasons:

1) To ensure that things appear on the up-and-up with everyone who is involved with the finances at the company, from on-paper to actually having check authorization. Make sure all of the money is properly accounted for. Be prepared to dig-deeper as necessary;

2) To ensure that you’re doing everything properly. You simply don’t know about the things you don’t know. A CPA is paid to know these things.

3) A good honest look into your company. The CPA has seen it all before and can give you a good sounding board, or perhaps devil’s advocate with you. They can be a reality check on where your company “really is” – how bad things are effecting your company.

So, what are you waiting for, make that call now…

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This is not intended to be specific legal advise, but general information and a guide to help you work with your professional team including lawyers to provide the correct amount of protection for your company. This is part of a 4 week series which came out of a luncheon discussion with several close business associates of mine.

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