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Brennan & Company CPA, PC

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Brennan & Company CPA, PC

Mission statement:

Our mission statement, “to become the number one provider of small business accounting services in Southeastern Pennsylvania”, neatly captures our business commitment perspective”.

Overview:

We are committed to our clients and we take our role in the business results very seriously. We are committed to helping our clients make the “right” decision as well as the “smart” decision. We want and encourage clients to believe in generating accurate and complete financial records regardless of their size or financial circumstance. We believe that such clients make the best “partners” and create the best relationships.
Our motto is “Safety….in Numbers“℠

This motto best describes how we feel about our work and our our perspective. Our clients understand this motto and know how to interpret the meaning. The meaning of our motto is akin to the medical profession code of “do no harm”….but it goes further.

Our clients realize that some of the best work we have performed has been counseling them to avoid making a particular “unsafe” decision. Such decisions may save money and reduce one problem but may cost the company in ways that cannot be monetarily measured.

It takes an informed and committed “partner” to understand and agree when a particular business decision may appear safe but may ultimately prove to be an “unsafe” decision. We believe that our reputation is only as good as the company we keep and the work we produce. We do not advise untenable tax or accounting positions or suggest risky maneuvers to place our client’s reputation, or our own reputation at risk.

Reputational risk is a major concern for all businesses today. In a world of instant communication and internet anonymity and the degree to which some use the internet to settle slights and grievances and even to fabricate malicious rumor, no company is immune from such risk.

At Brennan and Company CPA, PC we believe that any business can only control those things under one’s own influence. The accuracy of data provided by the company to its accountant is one example. A company’s willingness to pay the accurately calculated amount of tax – both payroll and income is an example of controlling audit risk. The company cannot control if it will be selected for audit but it can control the outcome of an audit by filing and paying the correct amount.   Another example is the company commitment to knowing and implementing any and all best practices related to financial and tax reporting.

All of these items are under the control of business and can help to minimize reputational risk.

Although a business may try, reputational risk considerations cannot be eliminated. Any individual or competitor with an ax to grind and internet access can make false statements about one’s reputation. Therefore, while doing one’s best effort, it is also good to remember the advice from legendary UCLA basketball coach John Wooden who said that, “reputation is what others say about you and character is what you know about yourself”.

Thus, by actively managing those various risk challenges that remain under our control, ignoring those things that are uncontrollable and focusing on business “character”; a business can operate “safely” knowing it has done all it can to enhance its reputation in the marketplace.

Brennan and Company CPA PC seeks to enhance our client’s reputation by providing complete, high quality attest, accounting and tax and consulting services. We can “safely” demonstrate that we are committed to the following practices:

    Integrity – We are committed to doing the ” right work at the right fee”. We strive to follow AICPA standards even when it means slowing down a process to get the work done accurately.

   Security and Privacy – Sean Brennan recently completed a three year term on the IRS national advisory ETAAC (ETAAC – Electronic Tax Administration Advisory Committee). As a member of this distinguished National-panel Brennan advocated for greater privacy protections from the IRS of tax payer data and better privacy procedures by the tax-preparation community.    Initially such recommendations were met with skepticism.   A question was raised about how this issue- privacy is related to electronic tax administration.   My argument was that data security and privacy are interrelated and yet separate issues and both are equally important.   The questions were set aside when the IRS was publicly questioned regarding privacy matters and specific tax-payer filings.   I believe that some of the resistance shown was based on the fact that the Treasury Inspector General (TIGTA) had internally issued his finding of fault with IRS practices at the time of my proposals.   The topic was deemed politically sensitive.

   Much like the work done at ETAAC, we utilize the knowledge we have gained over 18 years in practice and the experience and research of colleagues in the IT field to provide the highest level security and privacy protections any accounting office can provide.Furthermore, a scare regarding possible data exposure that occurred some years ago hardened our resolve to make your data completely safe with our office.   While the scare was just that, a non-event we implemented even tighter controls to protect clients. This may mean a few extra procedural hurdles for our clients but the reward of protected client data more than offsets any challenge.

   Personal and Friendly Client Service – Our clients are family and while we sometimes disagree we are grateful for the family we have.   We have many long-term relationships and can provide references regarding our services.

   Fairness – To our employees, to our clients, to our vendors and the public we strive to deal fairly and accurately in what we say and do and we expect the same consideration from our clients and partners.

Vision:

Our motto is that Brennan and Company CPA, PC provides clients “Safety…In NumberS™”

History:

Our local CPA firm has been providing attest, accounting and tax services since 1996.

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