I warned y’all

Local, Norfolk 1 Minute

Last August, as a matter of fact. The front page of Monday’s Virginian Pilot just reinforces my point.

Leon Collier’s clients loved him. For some, he had prepared tax filings for years.

[…]

But there were things he didn’t tell them.

None of those clients knew that Collier, according to court and state records, never had been a certified public accountant in Virginia.

[…]

Nor did they know that he pleaded guilty in 2006 to embezzling more than $50,000 from a Virginia Beach shopkeeper.

The fact that the guy claimed to be a CPA isn’t my issue. To be perfectly honest, there are some CPAs out there who have earned the designation that I wouldn’t let near a tax return. Being a CPA doesn’t mean you know anything about taxes.

No, my issue is that somebody like this could operate for so long and not be detected. Why? Because a lot of folks lack the skills to assess how good or bad an accountant is. Most of them find out the hard way – when the IRS or the state comes calling.

I wish I had a ready answer to this dilemma but I don’t. You can check with the VSCPAs to see if someone is licensed as a CPA, but that’s about it. You can rely on your friends to recommend someone, but sometimes that recommendation is worth what you paid for it. And you can’t go by cost: some of the most expensive are not any better than some of the cheapest.

All I can say is be careful out there.

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6 thoughts on “I warned y’all”

  1. I know CPAs register with the state in other states. Why isn’t that so in VA? And what about oversight? I know the State Corporation Commission is overextended but if a CPA does something shady- can he/she lose their license?

    This is scary.

  2. Yes, CPAs are licensed by the state. But that doesn’t mean that folks don’t run around calling themselves CPAs (or accountants, or Drs or whatever) and consumers don’t check.

  3. You know, every time I’ve had my hair cut in Virginia, I’ve known that the person holding the scissors was licensed to do the job. Hair stylists are required to display their licenses in plain view of the public. Are CPAs also required to display their licenses to potential clients?

  4. Not to my knowledge. As a matter of fact, I used to display mine – that is, until they stopped issuing new ones automatically. You have to ask for it now. (speaking of which, I’m off to renew my license right now. It expires 4/30. And I’m gonna order a new wall certificate 🙂 )

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