Auditing 1 Accounting.

Dave Czarnecki is the managing partner of Czarneck and Hogan, a medium-sized local CPA firm located outside of Chicago over lunch, he is surprised when his friend James Foley ask him. Doesn't it bother you that your clients don't look forward to seeing their auditors each year? Dave respond, well, auditing is only one several services we provide. Most of our work for clients does not involve financial statements audits, and our audit clients seem to like interacting with us.

(a) Identify ways in which a financial statements audit adds value for clients.

(b) List other services other than audits that Czarnecki and hogan likely provides.

C. Assume Czarnecki and Hogan has hired you as a consultant to identify ways in which they can expand their practices. Identify at least one additional services that you believe the firm should provide and explain why you believe this represents a growth opportunity for CPA firms.