The Value of Taking Client Acceptance and Continuance to the Next Level

Taking on new clients is crucial to any business – but ensuring this is carried out in an efficient and timely way has become increasingly important for accounting firms.

With regulatory requirements ever more onerous the pressure is on for firms to improve how they engage with existing and potential clients. Central to this is firms’ acceptance and continuance
procedures. In its most basic form, this should provide reassurance that the client will be the right fit for the firm. However, ensuring the company operates a smooth process can provide substantial business benefits at a time when the world is returning to normal post-pandemic. A robust acceptance and continuance process is best achieved using an integrated solution that eliminates the re-keying of information and enables accurate data to flow between a firm’s systems.

In this report, we explore how the accounting industry thinks client acceptance and continuance
processes can be evolved in response to the changing landscape of regulatory and reputational risk. It also will examine how, despite partners acknowledging how important client acceptance and continuance procedures are in risk management and as an enabler of business growth, many of those surveyed admit to feeling unequipped with the necessary time or resources to adopt new technologies capable of improving said procedures.

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