Expert: Ed McFarland - 7/12/2004

Question
Our arrangment was that he would take over for our former accountant on a monthly basis to do the bank rec, sales taxes, monthly financials, and what ever our former accountants di. This we assumed included checking our checkbook so it agreed with the bank numbers. Our last three accountants all did this for the last 28 years. When they completed their work they would make a manual correction in the checkbook and notify our office staff. The new accountant did not do this and no one realized this for eight months. When we called him his remark was "you must be disappointed with me. We are not certain as to what we should do.

Barry VP

Answer
If this created a big problem, then you may be well advised to seek another accountant. If everything is working normally and this came out in the course of your reviewing the work, prehaps not.

What I would do going forward, if you were to retain him, is be more rigorous in reviewing his work.