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What are the critical compliance considerations for US-based D2C businesses when engaging with an outsourced accounting firm?
Frequently Asked Questions
Outsourced Accounting Services
What are the critical compliance considerations for US-based D2C businesses when engaging with an outsourced accounting firm?
Ideally, businesses should verify that the provider has experience with:
a) US accounting standards
b) Multi-state sales tax requirements
c) Revenue recognition policies
d) Payroll regulations, and
e) Financial reporting obligations
At the same time, strong data security controls, confidentiality agreements, and documented internal controls should be part of the engagement. The service provider should also maintain audit trails and support regulatory reporting requirements, particularly when the company operates across multiple ecommerce marketplaces and payment platforms.