Finding & Selecting the Right Accountant

It is straightforward enough to find a accountant. Many offer their services and advertise on the Internet, plus they can easily be found by simply checking around your local business district. The institutes can be approached for a directory of accountants that practice in your city, and they commonly post this information on their websites as well. It can also be a good idea to check out accountants that are personally recommended to you. At any case, even though one key characteristic you should consider when choosing an accountant is how comfortable you are working with them, you need to also make your decision based on how experienced they are. It is also very important that you avoid choosing a friend or relative because this can cause complications that will lead to problems down the road.

Always check for the terms “certified” or “chartered” in the C.V. when considering an applicant to hire. It is crucial to hire only an accountant that carries the proper qualifications. Keep in mind that you are hiring someone to be responsible for taking care of your finances.

When hiring someone for a business, it is likely that you will be choosing not just an individual accountant, but one from an accounting firm. Consider the size of the firm and select one that is comparably sized to your company. This means that they deal with business on the same scale as your own, thus they are very likely to have the necessary experience in handling companies of your size. This also means that the cost will more likely be matched to what your company can afford. For instance, a smaller firm will cost less and be more suited to work with a small company. Another useful piece of information to keep in mind when choosing a firm is having an idea of who the other clients of the firm are. They should ideally be the same size of business as your own, and in a similar field, market or industry.

Set up a personal meeting with the accountant who will be assigned to your company to make sure that you can communicate and get along well with them before finalizing your decision. Remember, you will have to deal with them directly at least once a year to go over your finances so this is your chance to see how comfortable you are dealing with them and should you go with their firm, this is also a good opportunity to establish a relationship with your accountant

Types of Accountants

/ Management Accountants
These accountants analyse and keep track of a company’s financial information. Their role also includes managing costs and assets, balancing the budget, and evaluating employees for performance.

/ Consultants or Public Accountants
These are external accountants with specialised skills who are hired on a per-project basis or for handling specific issues over a period of time.

/ Public Sector Accountants
Hired by the Government to audit individuals and private businesses whose activities are considered questionable on the basis of keeping with regulations, or seem to show indication of possible tax evasion.

/ Forensic Accountants
These accountants investigate the details of certain financial issues such as bankruptcies, in order to find out the reasons behind them..

 

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