Here at KLP we handle a variety of industries. Last week we featured not for profit entities. This week we’ve covered the area of telecommunications. As always, if you have any questions or comments please let us know in comments below! We’ll have someone from our team get in touch with you.
Efficient Engagements
Because of our specialization, we’ve developed customized audit procedures to focus our time on the most critical areas of your financial statements. We understand Part 32 accounting procedures, work orders and access charges. We know the difference between average schedule and cost companies. The majority of our audit work will be completed before we leave your office. We will use technology in order to maximize our efficiency. Engagements run more efficiently when the accountants working on them are properly trained and understand the industry. In other words, you should not be training our team members, we should.
Rich Telecom Experience
KLP provides accounting, auditing and tax services to seventeen independent rural telephone companies located in Indiana and one telecom company in Ohio. These companies range in size from 500 to 11,000 access lines. Many of the companies have expanded their business operations through affiliated corporations. These entities offer products and services that include Internet access, IPTV, long distance, cellular telephone service, equipment sale and leasing, real estate development, technical support and competitive local telephone service. Our experience in these areas will enable us to advise you on accounting and tax methods used and being considered by other companies in the industry.
Team “Telecom” Experience
Every member of our professional team has experience working on telecommunications engagements.
Tax Compliance and Planning
The team assigned to your audit will also be responsible for the majority of your tax compliance service. Attention to detail is an important part of our tax compliance service. We believe there is important information gleaned in the audit process that can sometimes get lost when an audit team hands off to a totally separate tax department. We feel our clients are better served by having individuals that are familiar with all issues of the business. We have knowledge and experience with co-operative taxation and capital credit issues that will continue to be an invaluable resource. Your tax-exempt status is extremely valuable and we will continue to advise you on methods to minimize the taxes you pay. As an Indiana firm, we provide you with an important resource on State taxation. The Indiana utilities receipts tax and property tax have undergone significant changes over the past few years which have impacted the reporting requirements and taxes you pay. We have worked with the staff to say abreast of these changes. We have represented a number of our clients in protest hearings before the Indiana Department of Revenue on sales and utilities receipts tax issues. We are also positioned to share the results from other tax audits to the extent that it does not violate client confidentiality.
Superior Personal Communication and Interaction Skills
Most of our telecommunications clients have been with us for many years. We believe the reason for this goes beyond having excellent technical skills. We communicate regularly and on a level that gives management and their employees’ confidence that we have their company’s best interest at heart. The foundation for our communication is built on the following three principles.
- 1. Reduce employee turnover
- Communication and interaction is more difficult when a CPA firm assigns new individuals to your engagement every year. That is why we have made a commitment to minimizing turnover of our team members. Once we have assigned a team of accountants to you, we make every effort to send the same individuals back year after year.
- Questions are Encouraged
- You or your team members can call us anytime for advice on miscellaneous accounting and tax matters. You will not be charged for that advice unless the question or issue requires additional research and analysis. This can be particularly valuable in a specialized industry. Chances are we may have answered the same question for someone else.
- Deep involvement and participation in Telecom Associations
- KLP is an associate member of the Indiana Telecommunications Association (ITA) and regularly attends their conferences. We stay current on issues that affect our telecom clients through both ITA and INECA, an organization of independent telephone companies. We have made presentations at workshops and conferences to both ITA and INECA. These groups provide us an excellent opportunity to communicate and interact with owners, officers and employees. We also serve as the outside accountant to both of these organizations.
