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How to choose the right chartered accountant for your business?

How to Choose the Right Chartered Accountant for Your Business?
How to Choose the Right Chartered Accountant for Your Business?Photo Taken By Kari

A business is a composition of ideas backed with actions and financial responsibilities. Each piece of a business is delicate and needs to be handled with extreme care and finesse. The financial aspect of a business is what decides whether or not tomorrow is opening for business, or if a file of bankruptcy is being properly filled out.

With that being said finding the right chartered accountant for your business can’t be a more important or delicate matter. With so much relying on the financial perspective of a company’s success the following should be put into consideration when seeking an individual to fit these needs.

First and foremost seek someone you are fully compatible and comfortable working with. Keep in mind this is your money and your investment. The first sign of discomfort or something phrased a way you don’t like it, you are not obligated to be responsible for this individual’s career, your responsibility is that of your own career.

So make sure that your very clear and honest about what you are looking for, and don’t settle for less than that. When the future of major decisions relies on this individual taking proper records and having professional etiquette you set the standards, and that is solely for you to decide.

Don’t be afraid to inquire about their experience in a business such as yours. Whatever it may be that you are running, don’t simply take their word for it. Be familiar of your competition and ask them who they have worked with that runs a similar operation. A matter of a few references can save you endless amounts of time when deciding on which accountant is right for you.

If they claim they have a great amount of experience, but can’t simply name someone that shows true to their word, there are other options. A rushed decision Is usually made out of desperation and is rarely a wise one. Any decision without the proper research and follow-through can and will often times lead to a road of mistakes and misfortune.

Another important factor to consider is there fee structure. Make sure they are straightforward and put it all out on the table initially, and hold them to it. Don’t let small fine print slip through somehow where later you are responsible for fees you were never made aware of.

If you ask them for a precise layout of terms, then they will be legally obligated to hold to them through both a written and verbal contract. Hidden fee’s that come out later In the relationship will not only cause conflict and a lack of respect toward your hired help, it will in the end prove to be nothing more than a great and unnecessary inconvenience.

There are various things you should expect initially from the individual you choose to employ. Prior to looking get a vague idea as to what kind of individual you are looking for, professional and personality qualities that you will find acceptable, and go for that. While it all sounds like common sense, the good nature that you may hold may prove to be deceiving in times where rational decisions are very key.

While you may feel the need to want to offer your business to someone, at times two people simply can’t mesh in a business scenario. You should have an expectation they will respect your confidentiality and keep the matters you discuss with them solely between you and them. Honesty is one of the strongest virtues between a relationship of owner and accountant. Some other qualities you will want to look for would be:

• Time-Management efficient with meeting deadlines and handling their work in accordance with their verbal promises

• Independent in the sense they can work with minimal instruction from you. You want someone that will ask important sensitive questions in regard to your business, but not questions that should be a matter of common sense for someone in their field of work

• Free of any conflicts of interest. This point cannot be stressed enough. If you sense that the individual you may be employing to feel any hesitancy towards your line of work, you will not get their best efforts.

• Handle situations in a technical and professional matter as they would be expected to do so at all times

An accountant is a prime building block to a company. They can make or break a company by keeping records in a state that will be easily accessible and organized. When making this decision while taking in their professional background, allow your own knowledge and gut do some of the thinking as well. Choosing who you think you can work with as opposed to knowing you are a strong fit with ‘x’ individual are two entirely different paths, and one grants a future of much better rewards.