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By Allan Boress, CPA - CPAs = Greed, Inc.
Quite a bit of publicity recently about how unhappy attorneys are at practicing law. But how many CPAs in public accounting would really like to do something else, too?
Over the years our profession has lost many fine people because their firm wouldn’t let them work flex-time, let them talk to clients, give them different projects that would grow them, simple lack of appreciation and lack of meaningful work. I know; I interviewed over 200 former CPAs for my course, “64 Ways to Motivate and Keep Your Best People.”
One thing that attorneys do right – that we don’t – that allows firms to keep more of its people is something called “pro bono” work. That’s Latin meaning “for the good of”. Many law firms give dozens, if not hundreds of hours a year to local and national organizations – and I’m not talking about the local bar association, but charities.
Pro bono is also accounting-ese for “are you out of your mind?”
How many hours does your firm give to those in need? Right – I thought so.
CPAs are some of the greediest people I know. Not that attorneys and doctors and other professionals aren’t. Except they tend to donate time and money to help people.
Recently got a call from a CPA across the state who saw that I was featured on a website as a CPA provider and wondered how it was working. He wouldn’t be a competitor; he’s hundreds of miles away. So I told him: although I had picked up some good clients, a lot of inquiries were from people in trouble with the IRS. These kinds of clients tend to require a lot of time, and are often strapped for cash.
“Doesn’t sound like it’s for us,” he said. Of course not.
CPAs make more money today on average than anyone would have dreamed of when I became one in 1976. The average CPA today lives very, very comfortably. Many send their kids to private expensive schools, have second homes and are flush. This prosperity, I believe, has made them even greedier (case in point, the late Arthur Andersen).
It is greed – pure and simple – that lies at the heart of many of our professions problems: lack of funds to do marketing right, refusal to pay staff what they are worth, less than desirable working environments, no pro bono work, and pressure to bill, bill, bill – for full realization or pay the piper on your evaluation.
It’s greed, pure and simple, that is the cancer in our business.
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generousity is rare indeed
Over the past 25 years I have worked with over 500 CPA firms as a consultant and spoken at numberous AICPA and state society conferences. I have NEVER run into a CPA firm that did pro bono work - except by accident due to noncollectability of client fees. I am delighted you have had positive experience along these lines and welcome any additional stories.
Your Post on CPA's = Greed
Allan,
Your post on CPA's=Greed caught my eye (full disclosure: I am a fellow blogger on AccountingWEB's Bloggers Crew).
I think you raise a lot of valid issues around pay, working environment, etc., many of which have been discussed at meetings of the U.S. Treasury Department's Advisory Committee on the Auditing Profession (ACAP).
I was uncomfortable, however, with your statement that, "Pro bono is also accounting-ese for “are you out of your mind?”
From my own experience, around 1991-1993, the New York State Society of CPAs had a "Community Affairs" committee which held a program (that I co-chaired) with speakers from the Association of the Bar of the City of New York, New York Cares, and the Mayor's Voluntary Action Center (MVAC), to provide info to CPA's, attorneys and others about volunteer opportunities not only for technical service, but other types of volunteer service.
Although NYSSCPAs does not have a committee by that name anymore, I understand their Small Business Outreach Committee has been working with several non-profit agenicies. For example, committee members have given their time at seminar lectures to new business owners on tax subjects, business plans, setting up books, etc. with participants in NYC Business Solutions and SCORE.
Separately, I also happened to notice the Houston CPA Society has a Community Service Committee which (1) maintains a volunteer database of members able to provide technical assistance to qualifying nonprofit organizations, (2) sponsors an annual nonprofit accounting workshop (3) coordinates participation in the annual Santa CPAs for children in the area Head Start program and other community-oriented activities and (4) provides auction management database and volunteers to assist with nonprofit organization silent auction fundraisers. Serving the community is one of the key functions noted on their website.
I believe you have raised important issues, and I hope people will contact their local state societies, or organizations in their local community like New York Cares, Special Olympics, their Mayor's Voluntary Action Center or similar organizations, to consider community service, of a technical or non-technical nature. It is very rewarding in a way that can't be quantified.
Edith Orenstein, Financial Executivies International (FEI), NJhttp://www.financialexecutives.org/blog