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#366320 - 06/01/05 04:10 PM CPA's and online access
SusyG Offline
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A local CPA who is a very good customer of ours has asked to have several of his clients accounts available in online banking under 1 User ID. He is on the signature card for each of the accounts requested and the business owners have signed the enrollment forms. I've never had this request before, so I need a devil's advocate here. Any problems with this setup?

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#366321 - 06/01/05 05:45 PM Re: CPA's and online access
Andy_Z Offline
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If he is an account owner there isn't a problem. We used to offer statements on CD and a second could go to their accountant. But to my knowledge we never had them on the customers account. I wouldn't like that practice just from the standpoint of giving then access to the funds. That is an account owner perspective.
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#366322 - 06/01/05 06:21 PM Re: CPA's and online access
Jokerman Offline
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I would guess that the CPA is listed as an authorized signer.

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#366323 - 06/01/05 06:32 PM Re: CPA's and online access
JacF Offline

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If you have a means of blocking any transactional capabilities and providing 'view only' access, I don't see a problem with this arrangement. If the accountant would be able to affect tansactions, however, I would insist that he create a separate login for each client, and not comingle unrelated accounts.

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#366324 - 06/01/05 07:35 PM Re: CPA's and online access
Andy_Z Offline
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Whether as an authorized signer or owner, they have transaction capabilities. I should have been more specific. The point is the same though. I hadn't seen this, but I don't know what would prohibit it unless it is a CPA ethics thing.
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#366325 - 06/01/05 08:14 PM Re: CPA's and online access
Jokerman Offline
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Quote:

I don't know what would prohibit it unless it is a CPA ethics thing.




Well, they obviously wouldn't be independent for purposes of rendering an opinion on the financial statements. But I think it is somewhat common for CPAs to provide payroll services or similar things.

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#366326 - 06/02/05 01:24 AM Re: CPA's and online access
Anonymous
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I would think that a unique online user ID would be prudent for each unique CIF number if it is possible that each of those customers will also be using the same id issued to the CPA to access their accounts. It would then be possible for the accountant's CUSTOMER A to review the transaction history of the accountant's CUSTOMER B's account.

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