Client Assessment Checklist

CPA firms should evaluate all potential new clients and re-evaluate all current clients on a regular basis, at least annually. This enables the firm to better monitor clients, consider any changes that might affect the professional relationship, and avoid situations that could escalate into crises.

Firms can also stipulate in their engagement letters that the engagement is not binding until client acceptance procedures have been completed.

Three main considerations in the client acceptance process are:

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