Success stories

There are many benefits to partnering with CPAClub. We can get you through the busiest seasons of the year, help you work through complex situations, and even save your organization some money.

'Tis The Training Season...

Two regional firms combined to create a Top 10 public accounting firm shortly before the start of the busy season. Prior to the merger, delivering an SEC update to a limited group of professionals within one state was easy. But once these two firms combined people and geographies, orchestrating a complex accounting and auditing training for more than 100 partners and staff across the country became anything but easy.

The Solution

Between Christmas and New Year’s Eve, the Audit Partner and Director of Quality Control connected with CPAClub to present the challenge. CPAClub quickly identified two of its most experienced in-house Chief Auditors. Bringing deep expertise from having personally worked inside the halls of the PCAOB and various Big 4 national office roles, the individuals successfully developed and delivered a 2-hour SEC update training to more than 130 of the firm’s professionals. And they did it all within the first week of the New Year.

The Savings

Creating in-house training is time-consuming. According to industry research, it takes over 40 hours to develop just 1 hour of instructor-led training, so this particular 2-hour course would have taken more than 80 hours to create. Assuming an average billing rate of $300 per hour for partners and directors, this course could have cost the firm over $24,000 in revenue. By leveraging CPAClub, the firm could keep its critical partners and resources chargeable and pay just a fraction of that amount for engaging and highly-rated training.

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Busy Season Blues...

A local firm faced a critical shortage of resources right during the middle of the busy season. On top of this, significant six-figure audit opportunities continued to rain in from various sources. With just three partners, a manager on maternity leave, and a small team of seniors and associates that were already at capacity, the firm could barely keep up with its existing clients, let alone entertain the idea of new clients.

The Solution

CPAClub had already been providing the firm with specialized services, primarily in the areas of quality control and regulatory matters. This time the firm knew it needed a different solution, so it reached out to CPAClub to learn more about its audit and tax service center. Rather than scour the job boards for an unknown independent contractor or pay an expensive finder fee to a recruiting agency with no guaranteed return, the firm turned to CPAClub’s team of in-house CPAs. Within a few days, CPAClub was brought on board to serve as a Manager for the firm’s new public client.

The Savings

Not only did the firm avoid the need to hire a full-time manager at an average salary of $125,000 plus benefits, but more importantly, the firm now had CPAClub serving as its Manager, saving it more than $100,000. With CPAClub at the helm, the partners no longer had to focus on training and onboarding, plus they had the peace-of-mind of knowing each work paper would be prepared and reviewed effectively and efficiently. Moreover, their new associate benefited from CPAClub’s experience as former partners, directors, and current college educators. By reimagining how it delivered its services, this firm capitalized on an opportunity that was highly accretive to the partnership.

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From Crisis to Compliance...

For companies, compliance with financial statement audits for their employee benefit plan is not just an obligation—it's a critical financial responsibility. However, one company found themselves in a challenging situation. Their existing CPA firm, overwhelmed with other commitments, had become unresponsive, leaving the company with a looming deadline and no clear path forward. With the deadline for their employee benefit plan financial statement audit rapidly approaching, the company faced a dire situation. They understood the importance of compliance but were left in a quandary when their CPA firm failed to respond to their urgent needs. They needed an alternative solution that could step in immediately and ensure they met their compliance requirements.

The Solution

Recognizing the urgency of the situation, the company reached out to CPAClub for assistance. CPAClub's team of experienced CPAs understood the significance of the impending audit deadline and the company's need for swift action. Within a remarkably short timeframe, CPAClub was able to assemble a dedicated team to conduct the financial statement audit of the company's employee benefit plan.

The Savings

CPAClub's swift response and efficient execution met audit deadlines precisely, ensuring full financial compliance. The immediate, reliable support eased the company's stress and uncertainty. The company received a thorough, credible financial statement audit, solidifying trust. Amidst adversity, CPAClub proved a dependable ally, guaranteeing timely employee benefit plan audits.

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Remediation Runway...

A PCAOB-registered firm underwent its triennial inspection by the PCAOB. Fast forward to the next year, the firm was now 10 months deep into its 12-month remediation period for its PCAOB quality control criticisms. With an initial response drafted but infrequent outreach with the PCAOB and limited actions undertaken, the firm was struggling without a viable plan and close to giving up.

The Solution

Uncertain about navigating the PCAOB process, the firm engaged CPAClub as its external quality control specialist. One of CPAClub’s Chief Auditors, a former PCAOB director, immediately read through the draft response, provided actionable feedback, and developed a targeted remediation plan that was soon shared with the PCAOB. With short-term and long-term initiatives, CPAClub’s plan focused on delivering relevant CPE, ensuring appropriate communications, designing and executing a new pre-issuance review program, and implementing various other quality control enhancements. A couple of months later, the PCAOB called to confirm it would not be making public the firm’s Part II quality control criticisms. Short runway, successful landing.

The Savings

Most firms find it difficult to pay the premium that the cumulative experience of a full-time Quality Control Director commands. So many firms turn to Quality Control by Committee, whereby a group of partners and directors try to meet a few times a year, even though they’re already slammed with never-ending client service responsibilities and all their other continuous and competing challenges. This firm decided it didn’t have the time but also didn’t want to continue going at it alone. Recognizing such a skillset is hard to find—and not comfortable incurring the burden of an average full-time salary of $300,000 per year for a Quality Control Director—this firm simply invested in CPAClub at a fraction of the cost, but with the added benefits of instant talent, deep expertise, collaborative consumption, and fractional flexibility.

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Managed Accounting, Managed Peace...

A start-up technology company began growing but did not have the infrastructure or foresight to think about how they were maintaining their accounting and financial processes along their growth journey. The company was disorganized and faced challenges in seeing true, meaningful insights into their financial health.

The Solution

CPAClub swooped in and initiated a comprehensive assessment of their financial processes and implemented a tailored solution to streamline their accounting. Transitioning the company onto our digital, cloud-based platform, we introduced automation tools that significantly reduced errors, saved valuable time, and gave the company necessary insights into their financial health. CPAClub was also able to maintain and implement accounting processes on a go-forth basis, allowing consistent and quality financials and reporting.

The Savings

CPAClub's swift solutions and advanced tech revealed financial insights. This clarity led to informed decisions, cost-saving discoveries, and future growth plans. They gained both a one-time accounting solution and an enduring partnership with our dependable CPAs, ensuring ongoing support. In times of uncertainty, CPAClub empowered a growing firm with expertise and technology, allowing focus on core operations. The startup entrusted their accounting to CPAClub, forging a steadfast partnership.

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