We always get something good from the seminar especially from general discussion. Although many people were absent from the seminar, we were fortunate enough to have an in-depth discussion with Jenny Kun, a young, pretty and knowledgeable practicing CPA of JK & Partners CPA about the actual use of the current correspondence system for small CPA firms.
Producing IRD Reply Letters
Miss Kun had told us her frank observation that really hits our head, that is the current correspondence system only manage the ins and outs of the letters but not producing the letters itself. It is the automatic production of the reply letters to the IRD on behalf of clients that is more important than just the management system. Why? Because the firm can let the less senior ones to produce the IRD letter based on the selection of various templates and the items in concern and the senior manager can just do the sign off function. This is a revenue producing function. Got it!
We will implement the similar system like the Minutes and Resolution in CSA in the Correspondence System. The user can set up and modify the content of the templates. In the meantime, we will ask our existing users to share the commonly used letter templates to start with. If you have your own letter templates and you wish us to incorporate that into the new Correspondence System please send us the copies.
Miss Kun has used Auditwork to produce the final audit financial statements many years ago. She asked us whether we will continue the Auditwork program by incorporating the most recent accounting format. If we have to do it, this system will be an Internet based system like our Hedgefund system. That will be a simple system that goes from Trial Balance, Audit Adjustment, Notes and then directly export to the final presentable audit reports. If any of you are interested in it please call me at 2521-3110 for general discussion.
Thank you for your interest. We would like to express our gratitude for Jenny Kun’s good observation and suggestions that will benefit other users.