Compliance to Advisory

Growing Advisory While Keeping Compliance’s Value


Compliance services can sometimes get a pretty bad rep since it usually consists of the same old tasks.  However, these same repetitive functions can highlight some precious insights that allow accountants to bring much more to the table than an annual or monthly report.

Jan 11th 2022
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It can be difficult for accountants to transition from necessary compliance work to having deeper financial conversations, so here is the framework I used to gain the confidence I needed to lean more into advisory work.

In my firm, we do data entry and review at two separate times. This allows the team to take off the compliance hat and put on the advisory hat. We know multitasking is a myth, so by focusing on data entry one day, we can keep our brains on task and potentially eliminate errors the next.

Once we have reviewed to make sure the data entry is complete and correct, we can move out of the weeds and look at the overall picture. What is that tax return or that monthly financial statement showing us? Looking at comparison data such as year over year or month over month can help highlight those areas that need more research.

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