How to Find the Best Chartered Accountant for Your Business

Kenneth Brant 2017-01-10 09:00:00

When you are an entrepreneur, the least exciting aspect of running a business is performing the necessary accounting duties. Indeed, crunching the numbers and balancing the books isn't fun. Of course, when it becomes a chore then you won't actually excel in this important field.

This is why every business, no matter the size, should tap the services of a chartered accountant.

As many will attest to, chartered accountants, or CAs, have the know-how, experience and dedication to the world of finance. Through the thorough levels of education and examination, they have developed and maintained their extensive knowledge of all things finance.

In an era of over regulation, excessive taxation and complex business relations, a CA is imperative to the growth and success of any company. They can make you tax compliant, they can ensure you're following all of the financial regulations and they adapt to change quickly.

Here are five ways to find the best chartered accountant for your business:

Seek Out Referrals & More

Like any other professional service you use, it is important to be proactive in your endeavours. This is achieved by actively seeking out references from past clients. Or, you can take the 21st century approach and peruse online reviews and client testimonials across an array of websites and social media outlets. These can indeed be far more effective than one's own resume.

Only Look for Licensed Candidates

As you embark upon your plight to locate the right chartered accountant for your business affairs, you should only launch your search by filtering licensed candidates. In our Uber economy, anyone can really market themselves as chartered accountants just because they can add and subtract. The key thing is licensing; if they are licensed then you can dive deeper. To learn more about licensing in accounting, CPA Ontario is a comprehensive source of information to do your research.

Are They Reasonably Accessible?

When you own and operate a business, you need certain staff members and other collaborators to be accessible. Ditto for a chartered accountant.

It is rather unlikely that you will need a CA in the middle of the night or on Christmas Day. With that being said, it is reasonable to get in touch with a CA on a Monday afternoon, Wednesday morning or noon on Fridays. Moreover, if you leave a message or send an email, you should expect a quick reply; if it takes them more than 48 hours to respond then they aren't accessible.

Discuss Business & Technology

You can learn a lot about someone by just having a conversation. In this case, as you attempt to find the right CA for your private firm, you should establish a discussion on business and technology. You can find out if they have ever formed a venture, what technology they are most familiar with and if they are entuned into the 21st century advancements in both fields.

Akin to referrals, a standard discussion between two people can determine their acceptance.

The Services You Will be Needing

Finally, you need to conclude as to what specific services you will be needing from the chartered accountant. By not knowing this well in advance, you can't find a specialized CA.

Here are some of the services offered by a standard chartered accountant these days:

  • Tax consulting
  • Mergers, acquisitions and divestitures
  • Home-based businesses and proprietors
  • GST and other commodity taxes
  • Business structuring

These are just some of the many services that a CA will offer you and your company. Chartered accounts are not a dime a dozen. Well, at least not the best CAs in the market today. Every company has special needs, whether it's tax compliance, bookkeeping or abiding by specific regulations. As the red tape grows and as taxes increase, it can be difficult for any business, large or small, to adapt to the changing landscape, particularly financially.

A good CA can help you navigate through the ever changing world. With liberal and populist uprisings occurring, governments are turning to business as the scapegoat. In other words, it's not getting any easier for a company so you must protect yourself with a chartered accountant.

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