Determining Appropriate Services

Determining Appropriate Services

What if a client approaches you with an engagement request that you are not sure your CPA firm provides? Knowing which services are offered and how they are performed helps to ensure you provide your clients with the services they need.

You are approached by the Emerald Production Company management to review and analyze their customer satisfaction trends over the past 5 years. This assurance service would tell management if their suspicions were correct in that customer satisfaction has been declining, especially in the past 2 years. Management currently evaluates customer satisfaction based on customer retention and sales increases. While management sends out surveys via mail and email to customers, response rates are very low. Management does not consider the survey responses to be an accurate representation of their customer service. In fact, only customers with negative feedback are the ones who respond.

  • Assuming that your firm can provide this type of service, where would you look to find guidance for this service?
  • What standards would you need to follow?
  • What type of report would you issue, and what should be included in the report?

Just do response each posted down below only.

Posted 1

Hello all!

CPA’s offer many services and assurance services is one. These services help to improve the effectiveness of the quality of information provided to help management make decisions. As for guidance, a CPA would turn to AICPA’s Assurance Standards Executive Committee.

To name a few standards that must be followed would be professional standard, positive attitude and communication skills.

There is not a particular report for assurance services. However, I would use an analytical report that would show the research on how to handle the customers in a management perspective. The report will also contain market conditions and different skills such as attentiveness, attitude, and so on.

Posted 2

Hello Class,

CPAs provide assurance services to improve the effectiveness of quality information that could help management in making decisions. For this type of service, the CPAs follow AICPA’s Assurance Standards Executive Committee to obtain data that involves in evaluation and analysis of the company’s information to identify the necessary requirements to result in the highest benefits (Whittington & Pany, 2016, p. 766). In other words, quality assurance includes the steps that help to prevent problems, increase performance, reliability, and better to understand customers, etc.

The standards that we need to follow in this case are the criteria in measuring the customer care level and monitor the client’s performance. This includes customer service satisfaction, product and service quality, customers’ reliability and opinion, sales, and many more. In order to have a solution, auditors need to collect data through surveys, focus on groups, and area, etc. Then analyze the information to come up with solutions.

For assurance service, there isn’t a particular format report like for an audit. In fact, there may or may not need to issue a report or just a simple report. The issuance report is based on different circumstances to provide information. For Emerald Production Company, the report should include “the representation of the subject matter on customer satisfaction would most likely include the criteria describing the way in which customer satisfaction was defined and measured” (Whittington & Pany, 2016, p. 771).

Posted 3.

Good morning classmates,

  • Assuming that your firm can provide this type of service, where would you look to find guidance for this service? A CPA firm that was asked to perform this type of assurance service could seek guidance from the AICPA’s Assurance Standards Executive Committee. In today’s technological business environment, accountants are called upon to provide more than just financial data. These assurance services coincide with good financial reporting and gives the business a better all-around approach to operating their business at peak efficiency.
  • What standards would you need to follow? Other assurance services are covered under the general performance standards of AICPA, following Rule 201 in their Code of Professional Conduct (Pany & Whittington, 2016, p. 767).
  • What type of report would you issue, and what should be included in the report? The advantage to this type of assurance service is that there are no standard forms. This allows the CPA firm to customize the data to each client that will work best for that client. It allows the CPA firm to not only be creative but give specific and relevant information to the client. With standard forms, you might have to include data that is irrelevant to their assurance service request, but with no standard report or form, all of the data you give the client will be exactly what they want, so they do not have to read through things that they have no interest in. This allows the client to get right to the point when reading your report so they can start immediately interpreting the data to make internal control changes. For the Emerald Production Company, we could show ratio data between sales and customer satisfaction, as well as looking at customer satisfaction compared to sales returns and potential warranty issues from production. Research could also show a better way for Emerald Production Company to obtain survey feedback from all customers, not just the ones with negative feedback.

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