Skip to content
Your Certified Public Accountant “CPA” is DEAD - Now What?
9 min read

Your Certified Public Accountant “CPA” is DEAD - Now What?

Wow, what a title to an article but here at Schwartz and Associates CPAs, we realize sometimes, unexpected things in life just happen.

Life has a funny way of unfolding events that we often do not anticipate. As the saying goes, "Only two things in life are certain, death and taxes". (Both can be painful. But taxes don’t have to be.)

Occasionally, these two certainties align, creating scenarios that demand delicate handling.

Imagine you are a seasoned business owner, an entrepreneur who has poured sweat, blood, and years of your life into building a successful business. Over these years, your Certified Public Accountant (CPA) has been more than just a professional providing accounting services. 

They've grown to be a confidant, a trusted advisor, someone who understands the unique mechanics of your business and has played a vital role in its prosperity.

Suddenly, you’re faced with the distressing news of their untimely demise. This situation is not just emotionally challenging but also presents a professional conundrum.

You are now tasked with finding a new CPA, someone competent, trustworthy, and with the best interests of your business at heart.

Your Certified Public Accountant CPA is DEAD - Now What

Navigating this unexpected scenario can seem like a herculean task, but it isn't insurmountable.

To help you navigate these turbulent waters, we’ve compiled a step-by-step blueprint that will serve as a guiding light and a checklist of essential actions to ensure your business survives during this challenging transition.

Gather Necessary Documents For Your New CPA 

The first step is assembling all crucial financial records, tax filings, payroll data, investment documents, and other relevant materials.

These documents ensure a smooth transition to a new CPA or accounting professional. Ensure all financial statements, audit reports, business plans, budgets, and ledgers are readily accessible.

This will help your new CPA understand your company's financial health quickly and accurately.

Review and Update Your Financial Processes

The transition phase is an opportunity to review your current financial processes, systems, and internal controls. Analyze the effectiveness of your existing accounting software, tax planning strategies, and financial management practices.

Evaluate if there are areas that require improvement or modifications to optimize efficiency and streamline operations.

Upgrading your systems now can lead to smoother financial operations in the future.

Seek Out CPA Referrals

The next step involves reaching out to your trusted network for recommendations.

This could include colleagues, friends, other small business owners, or even your business attorney. Consider factors like the CPA's experience working with businesses of your size and industry, their reputation in the market, and the range of services they offer.

There is no reason you have to find a new CPA by yourself. In this tough time, all you my need to find the right CPA is a little help from your friends.

Research Potential Candidates

Once you have a list of prospective CPAs, it's time to do some groundwork. Delve into their qualifications, credentials, and areas of expertise.

  • Are they specialized in dealing with businesses similar to yours?
  • Do they have any industry-specific knowledge that would be beneficial to your business?
  • What do their client reviews say about their services?
  • Are there any red flags that you should be aware of?

Make sure to take the time to ask the right questions! The answers to those questions are the power you need to make a smart decision moving forward. 

Schedule Consultations With The CPA

This step is perhaps one of the most important in the process.

Arranging face-to-face or virtual meetings with potential CPAs will allow you to discuss your business's needs and expectations. Evaluate their responsiveness, communication style, approach to problem-solving, and, most importantly, willingness to understand and align with your business goals.

Once you've selected a CPA firm that aligns best with your business needs and ethos, you must notify all relevant stakeholders, such as banks, investors, and regulatory bodies, about the change.

Provide them with the updated contact information of your new CPA to maintain a fluid communication process.

Understand, All Hope is Not Lost

While losing your CPA is a hard blow, it doesn't spell doom for your business. 

Professionals who are well-equipped and ready to assist you during this transition are available. Taking immediate and informed action to find a new CPA can ensure that your business's financial affairs are managed effectively and efficiently. At Schwartz and Associates CPAs, we understand the intricacies of such a transition and are equipped to step in, offering a wealth of experience and a deep understanding of various business sectors.

Our dedicated CPA team is committed to delivering seamless, efficient, and personalized services to meet your unique needs. Take the first step towards ensuring your business's financial stability and success during this challenging time.

Schedule a consultation with one of our expert CPAs today.

Let us guide you through this transition, ensuring continued growth and prosperity for your business. Remember, your business deserves the best, and at Schwartz and Associates CPAs, we are committed to delivering nothing short of excellence.

Don't let an unexpected change in circumstances disrupt your business's trajectory.


New call-to-action

Rich Schwartz and his CPA firm serve clients throughout Southern New Jersey. Rich has experience working with businesses providing trusted advice, financial solutions, and guidance to help them manage cash flow, plan for the future, and grow their businesses.

Rich has worked with hundreds of businesses across a variety of industries including medical, professional services, financial services, retail, manufacturing, distribution, and real estate. He has the ability to understand the unique challenges facing small business owners and the experience to provide the right solutions.