USA Releasing client records to new accounting firm

[Ktuck]

We have a client (LLC) who wants to change accountants, therefore, has asked us to release their records. The controlling partner of this LLC does not want to change accountants (wants to stay with our firm). The partners are in disagreement. What is our responsibility in this situation? We cannot find any information about this particular situation.

Thanks for any answers.

 

[Kennith Yost]

The answer to this situation is similar to that when we open a joint account in a bank with two joint holders but after some time one holder wants to close the account, in that situation the bank will close the account only when both the holders give the permission. In my opinion, you can go ahead in this way.

 

[Ktuck]

The answer to this situation is similar to that when we open a joint account in a bank with two joint holders but after some time one holder wants to close the account, in that situation the bank will close the account only when both the holders give the permission. In my opinion, you can go ahead in this way.

Thank you for your response!

 

[BizProFinancial]

We have a client (LLC) who wants to change accountants, therefore, has asked us to release their records. The controlling partner of this LLC does not want to change accountants (wants to stay with our firm). The partners are in disagreement. What is our responsibility in this situation? We cannot find any information about this particular situation.

Thanks for any answers.

I would request incorporation docs or ask the CEO for a letter from their attoney starting who has controlling corporate interest. That's who makes the decision.id also run and keep current Financials to date, (at minimum, P&L, Balance Sheet, A/P report and an A/R aging report . Keep them on file to CYA, should they leave and there is a later dispute on their side. You'll know where the stood at the time the left your firm.