The Bernard Madoff saga continues to play out in the courts. This week, Madoff’s accountant, David Freihling, pleaded guilty to a string of fraud charges in connection with auditing the Ponzi schemer’s books. For this, the 49-year-old Friehling faces 114 years in prison.
There are those who say that Friehling and his accounting firm were always a dead giveaway that Madoff was running a dodgy operation. Why else would a man handling billions of dollars of exclusive investments rely on a tiny unlicensed firm of accountants with just one member of staff?
This state of affairs was surely a red flag the authorities should have investigated long ago.
It is also one any investor should be mindful of when choosing an accountant to help with tax returns, small business accounts or any other business administration requirements.
It is always best to start with a licensed and registered CPA. The training and testing required to become a CPA is rigorous and produces a much more rounded professional than a simple accountancy qualification.
But also make sure the CPA works for a reputable firm, and comes recommended from people in the same field as you. Many CPAs specialize in a particular industry like the media, or construction or architecture and so are aware of the specifics you need to know.
Cecilia Figueroa works at The Chelsea Garden Center in Red Hook, Brooklyn. She loves to work outdoors in all weathers, advising people on how to landscape their yards, or which plants and flowers they should buy to brighten up a place.
“Being outdoors all the time, in touch with nature and the weather at all times of the year is just great. So much better than being stuck in an office,” Cecilia says.
But Cecilia’s working day wasn’t always so fulfilling. For close to seven years she worked for an insurance company in Manhattan. Sitting in her cubicle with fluorescent lights overhead and a blinking computer screen before her, Cecilia was fed up with the place, right down to the chilly conditioned air.
Then about three years ago Cecilia realized her job was making her unhappy and decided to follow her passion. She had majored in horticulture at high school in New Jersey and had often thought of running her own florist shop or at least working with plants and flowers.
‘As soon as I realized that money was not a factor in making me happy I realized I could leave my job at the insurance company and do what I want to do to make me happy,” Cecilia says.
But, as with most people who are trying to find their dream vocation, Cecilia decided to ease herself out of her old position, rather than taking a blind leap into the unknown. She first took a part-time job at a local florist while she was still working at the insurance company. Not long after, a job opened up at the Chelsea Garden Center and the rest is history.
“I live nearby and I ride my bike to work in a few minutes, which is so much better than taking the train twice a day,” Cecilia adds.
And if you are thinking of following in her footsteps Cecilia has a word of advice: “Don’t waste any time, get up and get out now!”
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