Thomas Howell Ferguson P.A. CPAs goes beyond being a traditional CPA firm to becoming a valued business consultant with professionalism and integrity by offering a combination of responsive professionals with quality specialized training who are committed to providing superior client service, and the resources, services, and skills that normally are available only from national and international firms.
Our CPA firm has grown to approximately 85 professionals and support staff who provide clients with a full range of traditional accounting, auditing, and tax services complemented by comprehensive consulting services.
What’s the difference between a CPA firm and an accounting firm? This is an important question and should be understood, especially by business owners.
All CPAs are accountants, but not all accountants are CPAs. Since virtually anyone can name themselves an “accountant” without having any special education, it’s important to understand the significance of the CPA firm’s designation.
CPA stands for Certified Public Accountant. This designation is actually a license issued by the State Board of Accountancy and the Department of Business & Professional Regulation to individuals who have passed the Uniform CPA Examination, who have gained their required professional work experience, who have met stringent educational requirements, and who have demonstrated a commitment to high ethical standards. CPA firms are licensed, as well, and have very specific rules to follow.
In general, a CPA firm is owned and operated by CPAs, while an accounting firm is operated by accounting professionals who have not attained a CPA license.
Although an accounting firm can help companies with any number of things, from bookkeeping services to preparing tax returns, only CPA firms are qualified to negotiate an IRS tax settlement or issue an opinion on financial statements.
All types of assurance services, including audits, reviews, and agreed-upon procedures, must be performed by a CPA firm. Unlicensed accounting firms are not permitted to perform certain engagements and services which can be critical to the public’s trust in the financial information. Therefore, state law requires that licensed CPAs perform them. In addition, the training and expertise that a CPA firm offers is far more extensive than what you may find with an unlicensed accounting firm.
Our CPA Firm’s alliances with RSM US Alliance and CPAmerica give us access to 150 U.S. accounting firms and their more than 20,000 professionals, along with access to the professionals of the two national tax offices within RSM US and Crowe Horwath, LLP. This access is extended to our clients, while the point of contact within our firm remains the same.