What is the difference between a Clients records and a CPAs records?
A. Client records are owned by the client and must be returned to the client. All records that are not client records are CPA records and do not have to be given to the client. Client records are original source documents that have been received from the client. During the course of rendering services, CPAs routinely examine and refer to client original source documents. These may include original W-2 forms, income statements, property tax invoices, asset purchase documentation, tax depreciation schedules, accounting records (for example, the general ledger), debt agreements, bank statements and other legal documents. CPA records are all statements, records, schedules, work product, working papers and memoranda made by the CPA during the course of rendering services to a client unless there is a contractural agreement to the contrary. Examples of CPA records are the CPA’s original working papers, records of client communications or correspondence, and copies of client original source d
