What is theMontage Risk Index™CPA Score?
By identifying areas of weakness within an accounting practice, the Montage Risk Index™ CPA Score and Practice Risk Report enable firms of any size whether sole proprietorships or firms with hundreds to take preemptive action. Montage Analytics, Inc. developed the Montage Risk Index™ CPA Score and Practice Risk Report to profile an accounting practice's culture and susceptibility to operational weaknesses stemming from human behavior.
Why Take the Assessment?
The accounting profession has long been known for services related to internal controls and now they are moving more into the related complex process area of risk assessment and management. New Standards have been released, with more demanding expectations in the shadow of the worst economy since the Great Depression, the meltdown of Wall Street and the US real estate and mortgage industries. This begs the question: Does the accounting firm practice what they preach? As a public accounting practice, how do they assess and manage their own internal weaknesses and risks? All accounting practices small or large should learn their CPA Score and take full advantage of the Montage premium Practice Risk Report. There is no reason not to: the CPA Score is free, and the optional Practice Risk Report costs a good deal less than most practices bill for one hour of a professionals time..
Privacy Statement
The Montage Risk Index™ CPA Score and Practice Risk Report is FOR INTERNAL USE ONLY. Information specific to a practice is not shared with third parties. The input of user data is protected by https security, and when stored for demographic analysis, user identity is encrypted.
Our Focus on Human Behavior
Effective risk management is vital to creating strong and resilient accounting practices that are capable of shielding against the unexpected. Regrettably, the “unexpected” arises from the unanticipated effects of human behavior. In short, human behavior lies at the center of accounting practice risk. To address this, Montage applied a 360 degree approach, using behavioral science and advanced knowledge-base technology, to capture the expertise of CPAs, defendant counsels, expert witnesses, and loss prevention specialists. Montage Analytics’ focus on human behavior distinguishes us from all other risk assessment applications.
Our Executive Team
The seasoned experts on the Montage Analytics team include experts in accounting, advanced statistical modeling and behavioral science.
- Our CFO Gary E. Jones, CPA with nearly forty years of nationally recognized experience is a veteran accountant, published author, expert witness and instructor. Integral to our operation from the beginning, Mr. Jones has been a substantial contributor to the design of the business model, assessment and Report.
- Our CTO, M. Douglas Campbell, MSEE, with more than 40 years of global experience in leading-edge technology development and knowledge engineering in areas such as data analytics, internal controls and audit. Mr. Campbell developed the underlying Montage Bayesian model, the system of diagnostic software to assess accounting practice risk, and continues to advance this unique and innovative application.
- Our CEO, Kathleen S. Long, PhD is a globally recognized applied behavioral scientist who has focused on practical problem-solving systems for businesses to increase effectiveness, profitability and overall success. Dr. Long’s contribution as the behavioral architect is based on more than 40 years of consulting to top-level executives. She has worked with clients globally in the areas of individual, cultural and operational behavior.
Rave Review from CPAs
Before going live with the free online commercial version of the Montage Risk Index™ CPA Score, and premium Practice Risk Report, nearly 400 CPA firms field-tested them with a 97.4% acceptance rate from user surveys. These tools were found to be a valuable and unique practice risk management resource since the Report enables a "look ahead" to understand vulnerability to potential future events. This is in stark contrast to current predictive analytics that rely on "rear-view mirror" statistics to examine past events. While it can be said that history repeats itself, the reality is that we are also living in unprecedented times, and past events are not adequate indicators of a practice’s strengths and weaknesses.
Why the Montage Risk Index™CPA Score is Valuable to an Accounting Practice
The Score indicates the extent of a practice’s broad vulnerability to future client, third party and other operational issues. Left unidentified, these weaknesses may develop into a costly claim or embarrassment, which can compromise professional reputations and threaten a practice’s profitability and its very survival. By identifying areas of vulnerability, preemptive action can then be taken to transform vulnerabilities into opportunities to strengthen a practice.
Below is an example of how the CPA Score is presented:
Your Montage Risk Index™ CPA Score = 863
The three-digit Montage Risk Index™ CPA Score is based upon individual responses to the online questionnaire indicating where a practice fits on a scale of "Resilient" to "Vulnerable." The higher the Score, the more vulnerable a practice is and the greater the urgency to reduce exposure to potential risks.
The Practice Risk Report Identifies Weak Areas within the Practice’s Operations
While the Score provides a broad indication of vulnerability to operational weakness, each Practice Risk Area narrows the focus to operational facets of the business that could have a negative effect on your profitability and continued existence as an accounting practice. Data from individual questionnaire responses are cross-correlated and compiled into Practice Risk Areas:
- Aligning Business Goals with Ethics
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- Past or Current Legal Issues
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- Balancing Service Scope and Resources
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- Practice Focus-Client Fit
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- Practice Management Insight
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- Information Security and Disaster Recovery
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- Range of Service Offerings
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- Strength and Capability of Staff
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Each Area is a collection of related risk factors that identifies operational weakness in a practice. Each Practice Risk Report contains the top three Practice Risk Areas out of the 13 Areas contributing to the Montage Risk Index™ CPA Score. Each particular practice is unique according to demographics such as the size, client profile, location and other factors.
The Report is a compilation of the results of an assessment and is not intended to be a substitute for expert advice and/or education where the facts and circumstances warrant.
Bonus Hour of Continuing Professional Education (CPE) Credit
Receive a bonus hour of Continuing Professional Education (CPE) credit by completing the following:
Take the free Montage Risk Index™ CPA Score assessment
Purchase the $95 Practice Risk Report resulting from your assessment
Complete a short evaluation
Take The Assessment Often: The Montage Risk Index™ CPA Score Self-Assessment is Confidential and Free
The Montage Risk Index™ CPA Score self-assessment is free and individuals are welcome to take the assessment as often as they like. The optional Practice Risk Report associated with each assessment is available for download online. Even the most resilient accounting practices use their Montage Risk Index™ CPA Score and Practice Risk Report to anticipate possible negative consequences from future scenarios, while vulnerable practices can only react when these problems become a reality and they are faced with a dispute.
