Finding the Right Accountant for your Business
A word of caution to start with. Anyone can call themselves an 'accountant' or a 'book-keeper' despite the fact that they may hold no professional qualifications whatsoever. For obvious reasons, the quality of service that they provide, and the business help and advice that they offer, can vary widely.
All qualified members of the organisations previously referred to in this chapter will have undertaken rigorous examinations before being allowed to use the respective designatory letters of ACA, ACCA, or CIMA. In addition, they are all required to adhere to high professional standards and all of these organisations have established complaint and disciplinary procedures.
All members of these organisations who prepare or audit accounts are required to have a practising certificate. These are renewable annually provided the accountant complies with the requirements relating to professional indemnity insurance, continuing professional development, and the continuity of the practice arrangements outlined by each organisation.
The choice of an accountant is very important because they will probably be your primary professional business advisor. You should see them as being a partner, there to assist you with the running of your business. For this reason, the accountant you choose needs to be the right one for you from the very start. This means too that you need to like them on a personal level. They could be the best accountant going but unless you actually like them you are unlikely to be willing to accept their advice regardless of how good it is.
Choosing an accountant also involves the question of their fee. It would be inappropriate for a small business with limited turnover to seek to appoint an accountant from one of the major accountancy practices. The accountant you choose should be the one that is also being used by other businesses the same size as yours, although they will need to be able to cope with your business as it grows.
How Should you Choose an Accountant?
The choice of an accountant is very important because they will probably be your primary professional business advisor. You should see them as being a partner, there to assist you with the running of your business. For this reason, the accountant you choose needs to be the right one for you from the very start. This means too that you need to like them on a personal level. They could be the best accountant going but unless you actually like them you are unlikely to be willing to accept their advice regardless of how good it is.
Choosing an accountant also involves the question of their fee. It would be inappropriate for a small business with limited turnover to seek to appoint an accountant from one of the major accountancy practices. The accountant you choose should be the one that is also being used by other businesses the same size as yours, although they will need to be able to cope with your business as it grows.
If possible, obtain a recommendation from your local Business Link or bank manager for a suitable accountant- they should be able to advise on one that will suit your type and size of business.
