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building a partnership

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by

Kim Connor

on 7 January 2014

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Transcript of building a partnership

building a partnership
Parms + Company Background
Our History
Our Firm Culture
Firm Differentiators
Community Involvement
Engagement
Approach

General Approach
Information & Communication
Timing & Deadlines
Deliverables
TRANSITIONAL ISSUES
Introductions
Introduction of Messer Representatives
Tom Keckeis, President & CEO
Paul Hitter, Senior Vice President & CFO
Mark Gillming, Senior Vice President
Tim Steigerwald, Senior Vice President
Mark Luegering, Senior Vice President
Bill Rutz, Vice President
Kris Wainscott, Accounting Vice Pres. & Controller
Stan Williams, Economic Inclusion Vice President
Karen Pawsat, Benefits & Compensation Vice Pres.
Matt Barney, Director of Cost Accounting
Introduction of
Parms Representatives
Meeting's Purpose & Agenda
30 Years
in Business

We are a
client-focused firm
serving a diverse
group of clients
We have a
history of many
long-term client relationships (greater than
15 years)
Substantial Experience
in Performing
Employee Benefit
Plan Audits
Our Mission:
We are a client focused firm
We provide value-oriented services
We are committed to
Long-Term
Relationships
"Parms + Company offers a personal approach to services and shows genuine interest in our business.

The fact that we've been a client of Parms + Company for 30 years is proof of their quality service. With larger CPA firms, you’re just another client. But not with Parms + Company. They give us exceptional service, and we are happy to continue this successful relationship with them."
Sommerville's
Akron, Ohio

Firm Principals with
extensive experience
Experienced and well-trained staff
Growing base of employee benefit plan clients:
..... and still growing
Memberships in important professional AICPA affiliations and resources:
SERVICE
Responsive to each client's needs is our hallmark
"I have always been very pleased with their professionalism, knowledge, flexibility and high degree of personal attention. Though I'm sure their roster is deep, they always make me feel like I am their only client."

Phil Wilson, CEO
Fine Citizens, Columbus, Ohio
As a firm, we are currently involved in:

OSCPA’s annual Accounting Careers Awareness Program (ACAP-Ohio)
Our Partners have served on a number of boards including:
Executive Board
for success
_______________________________
________
_______
Parms + Company
has a long history of community involvement.
We've received
a number of recognitions over
the past 30 years.
who we are
30 years
Parms' Future
Our Goals & Outlook
Engagement Approach
Engagement Approach
General Approach
Engagement Planning
Further build knowledge of Messer
Confirm detail process with Messer
Review prior auditor's work papers
Audit Approach
Understanding the key characteristics & reporting objectives
Key factors that will determine the focus of engagement
Third party administrators
Nature, timing and extent of resources needed
Critical information requests
Information and
Communication
Communication is a key process during the engagement.
Information request key contacts and turnaround time.
Maintaining security over sensitive information.
Integration of audit process with tax preparation.
Deliverables:
Audit
Deliverables:
Audit
Hourly Employees' Retirement Plan - Full Scope Audit of Plan
Health Care Plan - Audit of Cash Basis Financial Statements
401(k) Savings Plan - Limited Scope Audit of Plan
Deliverables:
5500's
Preparation of 5500 Informational Returns for the following plans:
002 Hourly Employees' Retirement Plan
503 Health Care Plan
003 401(k) Savings Plan
502 Life Disability Income Plan
505 Flexible Compensation
510 Hourly Employee Health & Life
512 Dental Care
513 Disability
516 Supplemental Life Plan
Timing and Deadlines
Engagement planning (March and April)
Audit field work (May and June)
Final audit reports and 5500 returns (mid June)
Messer's Objectives:
Improved engagement efficiencies
Improved understanding of regulatory requirements and reporting
Other objectives
Q&A
Today's Goals
Discuss how we can effectively serve Messer
Answer questions Messer has about our firm and our capabilities
Feel free to deviate from agenda to address any Messer issues
Main Purpose: Getting to know one another
Parms at a Glance

Firm Size: 15
Professionals: 12
Number of CPAs: 6
Partners average over 35 years of experience
To provide professional, results-oriented accounting and consulting services that support our clients' success and best interests in an environment that allows our firm members to achieve their professional and personal goals.
We value
diversity in staffing
Build on and leverage firm core experiences and expertise
2013 Revised Strategy for Improving Marketing Efforts

Updated our branding and image
Updated our website to better serve current and potential clients
Identified three specific market opportunities
1. Audit of Employee Benefit Plans for major companies
2. Colleges and universities
3. MBE firms who are members of SCOMSDC
How do we hope Messer can help us in our efforts?
Each client opportunity is used to further build firm narrative
Help us become better at what we do!
OSCPA's annual FETCH! which stands for Financial Education Teaches Children Healthy Habits
Annual Thanksgiving Food Drive to support Neighborhood Services food bank

Local United Way Campaign since 1994
OSCPA's CPA Answers, an annual tax call-in show
Ted Johnson at CPA Answers 02/2013
Parms wants to bring a new perspective to the engagement.
To provide a fresh look.
Approach to Taxes
Audit team and tax team work hand-in-hand

Interaction between Audit and Tax software

Communication and coordination with TPPs and TPAs

"Parms + Company has proactively and professionally guided us through our audits and have made what can be an unpleasant and difficult process as productive as possible. Every audit is a teaching opportunity and the Parms team embraces this role."

Steve Fireman, President
Economic and Community Development Institute
Columbus, Ohio

Future plans for growth:
Primarily through internal organic growth
Also open to merger with compatible organizations
We provide a full range of services in auditing, accounting, tax, and consulting.
Presentation Outline
I. Introductions and Review of Meeting Purpose

II. Parms + Company Background

III. Audit Engagement Approach

IV. 5500 Engagement Approach

V. Engagement Transitional Issues

VI. Questions and Answers
Mins.

13

25

20

5

12

15
Thank you!
Full transcript