Going Beyond the Numbers Part 1

By Vincent Pungello, CPA, CISA, CFSA, Managing Member Pungello CPA LLC

Can your CPA be the key to taking your business to the next level? This series of articles will take a deeper look at the relationship between business owners and their CPAs. It will also look to shed light on the possibilities and benefits to each of changing the relationship to one of the CPA being the trusted advisor and “tough partner”. 

While there is no question a successful business owner needs to have laser focus on their day to day operations and customer needs, this may have the adverse impact of causing them to lose perspective on the larger picture and the future opportunities and risks their business will face. In addition, without other perspectives and information to challenge their assumptions, business owners may make critical decisions without having vetted all the pertinent information.

CPAs have historically focused on the “what has happened” in the business model and have marked success by assisting the business owner with the completeness and accuracy of financials, minimization of taxes, etc.   While this is critically important to the success of the client, it limits the possibilities and benefits that the CPA can bring to the client’s organization.

In order to take advantage of all that a CPA can provide to the business owner, the ground rules for the relationship must be established so that all parties have a clear understanding of expectations, deliverables, time commitment and costs.  An appropriately drafted engagement letter can provide the structure for the relationship. In addition, both parties should evaluate their current situations and determine if this expansion will be mutually beneficial.  Does the CPA have the resources? Can the client afford the services? Is the client ready to hear tough advice? Does the CPA have any conflicts that may prevent them for advising the client?

In the next set of articles we will explore how the expansion to business advisor and tough partner can fully utilize the expertise of the CPA and help take the clients business to the next level.


As your accountants, our focus is to bring effective and compelling solutions to you.  Whether you are an individual tax client or corporate accounting client, our best practices will allow you to focus on your business while we do what we do best; accounting, tax preparation and business advisory services. To contact Pungello CPA call (848) 222-2520 or visit our website at https://pungellocpa.com/ .