An Introduction to The CIMA Query Retainer Service. In response to the mounting regulatory & statutory pressures facing the accounting

Transcription

1 An Introduction to The CIMA Query Retainer Service In response to the mounting regulatory & statutory pressures facing the accounting profession and the ongoing economic challenges we have developed the CIMA Query Retainer Service. As your outsourced in-house technical department you can gain real time access to industry leading expertise across a range of key technical areas including: 1. Financial Reporting 2. Taxation 3. Company Law 4. Investment Business 5. Anti Money Laundering & Reporting Regime 6. Audit / Audit Exemption 7. Employment Law 8. HR Advisory The Concept 1. A one-stop shop for accountants for all their queries in all the areas that they work on a day-to-day basis. 2. An outsourced technical and legal department for SME firms and companies providing similar resources and technical capacity as Big 4 Firms. 3. A Service which will provide timely and practical responses and guidance to CIMA accountants in a format that assists them in their day-to-day work. 4. Technical support provided in a way that demonstrates an understanding of the challenge faced by accountants, their clients and businesses. 1

2 Why Would CIMA Members Sign Up for the Query Retainer Service? I Need a Quick Answer Even the most experienced accountants may find themselves faced with a query, which requires some research. Instead of spending your time researching the answer why not just pick up the phone and call us for a rapid response. Let us worry about the technical behind-the-scene issues while you focus your attention on more visible client facing activities. We will provide you with a response to your questions and also identify any other possible issues or problems that may arise from the query. Am I Missing Anything? You have done the work and come up with the solution. You are 99% sure that you have covered all bases but you would like someone to give you a second opinion: a sounding board to run your thoughts by. Give us a call and we will review the solution and provide any feedback required. Is There Something Else I Should be Doing? In the day-to-day running of your practice or your financial control department issues arise where you require outside assistance. With the CIMA Query Retainer Service you have access to a Big 4 style technical department when you need it without the associated costs. Backed by OmniPro you can have confidence to take on larger more complex assignments safe in the knowledge that you have a team of dedicated technical experts on hand to provide any assistance required. The Process 1. A query is submitted by a CIMA member by telephone or to the OmniPro Help Desk 2. The Help Desk reverts to the CIMA member to assess the full nature of the query. A structured questionnaire is used to ensure that Help Desk Manager elicits the appropriate information to enable them refer the query to the most suitable Technical Expert 3. If the CIMA member wants a verbal response the query is referred to the Technical Expert for a return priority telephone call 4. The Technical Expert answers the query over the telephone (Minimum charge for telephone call 20 Minutes and actual time spent for all calls thereafter) 5. If the CIMA member wants a written response an is sent from the Help Desk summarising the query within 24 hours of initial contact. (Query may also be submitted on a pre-formatted form as an alternative to speed up the process) 6. CIMA member confirms to Help Desk that query and information are appropriate 7. The Help Desk refers the query to the Internal Technical Expert 8. The Internal Technical Expert liaises with client and responds to Query 9. CIMA members are issued with a summary of account on a monthly basis 10. CIMA members are given the opportunity for Feedback after every interaction 2

3 The Query Retainer Process 3

4 Exclusions which will require Alternative Arrangements / Engagements 1. Hot file reviews 2. Annual compliance reviews 3. Cold file reviews 4. Representation at hearings 5. In-house training 6. Company formations and fixed price co-sec services 7. Stamp duty 8. Vat on property CIMA Query Retainer Service Pricing Bundling Package Price Easy Pay Option 2 Hours 350 Payable in Full at Outset 3 Hours Per Month for 6 Months 6 Hours Per Month for 6 Months 10 Hours 1, Per Month for 10 Months 20 Hours 3, Per Month for 10 Months The Accountants Resource Centre for CIMA Practising Accountants The Accountants Resource Centre consists of programmes, integrated working papers, template programmes and responses, tools, tips, online community and support for accountants in practice. This product has been developed in response to the changing needs and wants of Irish Accountants based on increasing regulation combined with a rapidly changing economic environment, profession and society where client service is the real key to success. The Practice Plus Membership is focussed on accountants in practice who do not do audits and will consist of the following: Audit Exempt Programmes and File - Full Version Audit Exempt Programmes and File - Lite Version Sample Audit Exempt Financial Statements Sample Abridged Audit Exempt Financial Statements Financial Statements Disclosures Checklist Unincorporated Business Programmes and File - Full Version Unincorporated Business Programmes and File - Lite Version 4

5 Income Tax Return Checklist Corporation Tax Return Checklist Corporate Compliance Checklist Client Information Request Checklist Client Letters Firm Compliance Checklist Non-Audit File Review Checklist Letters of Engagement and Letters of Representation templates Sample Hold Harmless Letter New Business Proposal Template Access to OmniProTV Technical Updates All of these templates will be renewed and updated on an annual basis to reflect legislative changes and the suite of templates will be constantly expanded by our team of product developers. Annual Practice Plus Membership Pricing Sole Practitioner Partner Firm 297 These products give accountants so much more than just programmes like most of the other options in the market. For an extremely competitive price, we give you templates and a constantly evolving knowledge database for all aspects of your files and work enabling you instantly roll out firm wide standard procedures that work. CIMA Practicing Accountant Combo Special If a sole practitioner CIMA Member signs up for the 2 Hour Query Retainer Service and the Practice Plus Membership at the same time we will offer them a further discount and give them an exclusive offer price of 497 for the combined package. This represents a total discount of almost 12.5% over and above any discount available to other accountants in practice and will provide substantial support and peace of mind to any accountant in practice. Should you have any questions in relation to either the CIMA Query Service or The Accountants Resource Centre please contact Amy Brennan. Amy Brennan, OmniPro, Unit 3, South Court, Wexford Road Business Park, Carlow. For further information, to request a call back and to download a free Capital Goods Paper, Capital Goods Record and Case Study simply click here or visit abrennan@omnipro.ie 5