When I was growing up, one of my close family members had his own CPA firm. It always seemed like such a great job to me. He worked from home for the vast majority of the time, it seemed like all he was doing was crunching numbers, and apparently he got paid very well because he never seemed to have to worry about income. I’m not saying that he lived in a mansion (nor that I would even want to), but he most certainly lived a comfortable life. He did seem to work a lot, but even at a young age I remember thinking that he probably didn’t have to work as much if he didn’t want to. He simply could have taken on less clients.
When I was younger, I was convinced that all accountants did was taxes. I assumed my family member was much busier during the tax season than he was the rest of the year. Only later on did I learn that accounting firms provide all types of different services related to accounting. In addition to helping individuals and businesses with their taxes, they also provide self-audits and audit assessments, they can perform advisory functions, and they can even help individuals and companies manage their risk. The latter of these is the focus of this discussion. Risk assessment and risk management go way beyond the basic accounting function of taxes. With the complexity of today’s tax code, as well as the ever growing and changing regulations and rules handed out by the SEC, it is important for individuals and for companies to protect themselves from risk.
As with most things, there are a larger number of professional business CPAs that work in the area of risk services. However, after doing copious amounts of research, it would seem that Crowe Horwath Denver is the clear choice for such accounting needs. Crowe Horwath Denver is a regional office within the larger network of Crowe Horwath International. They have over one hundred offices around the world in over one hundred countries. They work with around 39 public companies. This means that they have the experience, the knowledge, and the team of professionals it takes to help any individual or large corporation assess their risk. They will help you create all of the necessary financial documents so that you can assess your company’s value, balance your budgets, and make sure that all of your taxes are in order. They will be sure to involve the necessary shareholders and executives, so that they can be sure to minimize the risk either you as an individual or your business will face.
As you can see, accounting firms work in other accounting areas outside of simply helping you do your taxes. By helping individuals and companies to manage their risk, they help people live a more stable financial life. Like was said earlier, the tax code and SEC guidelines are complex. It is therefore necessary to have professionals on hand who can help you with the complexity of today’s financial landscape.