Vol. 26 I No. 5 I May 2012

2012 TAX PLANNING p. 18
Tax columnists Jones & Luscombe on why it’s never
too early to start working up a plan — or two
THE NEW AUDITORS p. 20
The 21st century audit professional goes way
beyond just checklists and workpapers

accountingtoday.com

CASE STUDIES: CRM p. 28
How leading firms are exploring the benefits of
customer relationship management software

When clients attack

What to do when your firm is hit with a malpractice claim

It’s no fun for most people being

sued, even when the claim is for a trivial amount in small claims court. When the suit alleges mistakes made by a professional, with the possibility of damaging their

See MALPRACTICE on 43

BY ROGER RUSSELL

WHAT MAKES THE LEADING FIRMS TICK See page 11 INSIDE THE TOP Build your own Geek Squad of online ad experts

More accounting firms are outsourcing elements of their e-marketing campaigns

As accounting firms feel more pressure to enter the digital realm, they are seeking more experts inside it, for both internal and outsourced marketing manpower.

In an informal March 2012 survey, the Association for Accounting Marketing asked 59 members what tasks they outsourced. Web site design and Web site development were the top two jobs, with roughly 71 percent and 69 percent of members, respectively, reporting it as something that their

BY DANIELLE LEE

firm always outsources. Graphic design followed with 41 percent of respondents, while 27 percent always outsource SEO, and 22 percent always outsource digital newsletters.

The resources and talent that
firms utilize range widely, from
whole ad agencies to consultants
to one-project jobs. Katie Tolin,
marketing director at Ohio public
accounting firm Rea & Associates
and vice president of AAM’s board
of directors, has found success in
multiple approaches.

Hot topic, cool talk (mostly)

Strong opinions rise to surface at PCAOB discussion on auditor rotation

The talks were civil, for the most part, but a major public discussion about auditor rotation held by the Public Company Accounting Oversight Board in late March left no doubt that feelings on the subject run high.

The board heard two days of testimony from a series of high-profile stakeholders and auditing experts on the pros and cons of requiring companies to rotate their auditing firms on a regular basis. The testimony came in response to a concept release that the PCAOB proposed last August.

“Many people are troubled by reports of audits that span decades, even a century,” said PCAOB Chairman James Doty on the first day of the meetings. “These are the engagements that no partner