In Pursuit of Profit
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 As we talk internally as a team and externally with our colleagues, there seems to be one common thread across the conversations we’re having: slowness!
Everything related to bringing in accounting help has slowed down. The prevailing trend right now is business leaders being more cautious with hiring and dragging their feet when it comes to outsourcing. Part of this reduced pace isn’t their fault. A worsening talent shortage in accounting is stymieing the hiring process. But a dearth of accountants isn’t the only factor leading to a slower hiring process. Business leaders are also taking longer to make hiring decisions and/or decide to outsource their critical accounting activities due to concerns of an impending economic slowdown.  Last year Intuit announced they were going to stop offering support for QuickBooks Desktop as of May 31, 2024 and that existing Desktop users had until July 31, 2024 to upgrade to a QuickBooks Desktop Plus plan if they wanted to stay with the Desktop platform.
At this point, that means if your business is still using Desktop, you only have four options:
Let’s evaluate these options!  As accounting professionals we are always looking for ways to educate business leaders on the importance of internal accounting controls to help protect their organizations. Today we want to share a real account of fraud that we found out about from a colleague to highlight the fundamental fact that fraud can happen anywhere!
Although this story might be difficult to hear, we think it’s important to stress the fact that, whether we want to acknowledge it or not, fraud can happen at small businesses, family run companies, and even at nonprofit organizations. In fact, fraud is probably more likely to occur in those environments than at major corporations or publicly traded companies because bigger entities often have far more accounting protections in place to better protect their assets.  Interviewing is a necessary evil in the professional world. Most of us despise it, few of us are good at it, and it’s rarely ever considered fun. It’s an interesting phenomenon because, although it’s necessary to advance in our careers, it’s not something that we do very often, which means we’re typically not practiced at it.
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8/29/2024