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Harry Rosman, CPA, recently signed up to receive a newsletter from NYNEX called Step Ahead directed to small business owners. Its purpose is to offer tips to small businesses on how to reduce costs in general while promoting NYNEX products. Mr. Rosman read his first issue and was alarmed to note under a section called "Cost Control" an article entitled "Cut the Tab for the Annual Audit."

Are you looking for new ways to reduce your operating expenses? Then this is a good time to focus on your company's annual audit. You're probably paying too much for it.

The article went on to promote the publication of a Boston consulting firm that helps companies reduce excessive accounting fees. The consulting firm is quoted as saying: "Figure out ways to do some of the preparation and auditing tasks internally, rather than pay outside auditors to handle them at rates as high as $350 an hour."

The consultant's recommendations finish with the notion of questioning out-of-pocket expenses tied to the auditor's bill. "These are regularly inflated by excessive copying fees, meal charges, and other costs that clients should not have to cover," says the consultant.

Harry Rosman wrote to the president of NYNEX objecting to the article, "You have impugned our profession by such claptrap and unsubstantiated statements." He plans to attend the stockholders meeting of NYNEX to state his objections in person. *

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