Accounting and Tax Client Acceptance - Key Considerations for New and Ongoing Engagements

In today's dynamic accounting and tax landscape, client acceptance and retention are crucial for maintaining a successful practice. Accountants must carefully assess each potential and existing client, evaluating business nature, compliance history, and ethical alignment. This process is especially vital across compilation, independent review, and tax engagements, where specialized skills, increased workloads, and technological advancements can challenge a firm's capacity. By establishing clear acceptance criteria and continuously reviewing client relationships, accountants can ensure alignment with professional standards and deliver value-driven services.