HOW TO CHOOSE THE RIGHT ACCOUNTANT
K3 Accounting has established itself over the last two years around creating maximum ease and efficiency for clients.
According to Director Richard Matson, “it’s a simple goal and one you’d think all accounting practices would be focused on. This just isn’t the case though, so is one way we’ve really focused on establishing a point of difference”.
Often, accountancy services can sound the same between firms and can be ambiguous as to what those offerings mean for clients. It is important for clients to understand what they need from their accountant.
Here are five tips for finding the right Accountant for you.
1. Choose a Chartered Accountant
In New Zealand, Chartered Accountants are regulated by a professional body called ‘Chartered Accountants Australia New Zealand’ (CAANZ) who aim to maintain a high standard of work. Through this organisation, qualified Accountants can undertake an additional tertiary level of study, along with workplace experience and a professional competence programme.
Those who pass, will become ‘Chartered Accountants’, recognised for achieving a higher level of expertise in the industry. Across the world there are a variety of professional bodies who offer similar qualifications to these, which are generally internationally recognised.
It’s advisable to use an Accountant, or Accounting firm with this level of expertise within it, to ensure you’re getting the right level of service, especially across more complex accounting matters.
2. Add Value
A great accountant will not simply perform routine tasks, at their best they will also add value to your business. This can range from the ability to offer specialist tax advice, through to their general commercial awareness of how your business operates. Remember, your accountant has gone through rigorous training and should be technically and commercially aware of latest industry and economic issues or changes. This is all part of their continuing professional development obligations.
What technology does your Accountant use? Do they have the technical knowledge, support or experience to support the evolving needs of your businesses as it grows? Does their accounting software integrate with your business?
Because an Accountant may wind up knowing every last thing about your financial situation, it's important to find someone you're personally comfortable working with. Starting with a referral is often the best way to do so. Ask around to find out from your family, friends & business acquaintance who they use and whether they recommend their current accountants.
5. The Right People
While a lot of Accountants will aim to speak to you once or twice a year, ticking over your books and just keeping things running, there are teams out there who genuinely care, and put the effort into getting more involved in your business and helping to constantly take things further.
To this end, the people working on your business or finances, should be just as important as those who are working in it. Considering the personalities and motivations in an accounting team is important. Where possible, meet face to face with the team, find out how they like to work with clients, get to know their personalities and determine whether they’re really on your side or just treating you as another account. They should make the effort to understand your business, it’s goals and it’s values and line up alongside these to help deliver to them.
“At the end of the day, your Accountant, at the very least, should save you time and money. Choosing the right Accountant will open doors to new opportunities and ideas to take your business further than you may have ever thought possible” says Richard.