What to Consider When Choosing an Accountant Are you at the stage in your personal or business life where the advice of an accountant from time to time would help you to better organise your financial affairs? The process of choosing an accountant should be much the same as if you were looking for a tradesperson to do some building work on your home, or for any other type of specialist work or advice. The choice should not be made based on convenience because their office is close to home or handy to your workplace. It should be a process of first knowing what you want then finding several accountants so you can compare their services with your needs. What Skills and Services are Needed? The best place to start is with an informal wish list of attributes and skills you expect from someone whom you will be relying on to give quality advice regarding financial and business issues. If all that is required is completion of a tax return every year, than make sure the accountant is also a registered tax agent. There are many small accounting practices and even large firms that offer this service. If you are looking for more than that, make another list of the services you expect to receive regarding any specialist areas where you will need professional advice. Armed with both lists, treat the whole exercise like a recruiting process. Using search engines or recommendations from family and friends, shortlist the most likely candidates, then contact them for specific information about their services. This is especially important if you have areas of specialisation that you expect the accountant to cover. If they don’t have that expertise and you have already handed over all your financial information and set up a client relationship, there could be extra costs if the accountant has to outsource your particular need. Communication is an often over-used expression but in these circumstances it is very important that you have someone who can discuss issues with you in ordinary terms and not in financial jargon. Check that they will respond to queries promptly, either by email or phone, so you are not left waiting for information before making an important decision. Ask about fees, if they are charged by the hour, or a flat fee for certain tasks. Check Credentials Finally, check that they are a member of a professional association such as the Institute of Chartered Accountants in Australia, Certified Practicing Accountants Australia or the Institute of Public Accountants. Professional associations keep their members up to date with changes and provide training programmes and other development activities. It also means that the members must meet association standards, and you have an avenue for complaint if the accountant does something that you are not happy with. A business person will have quite different needs and expectations of an accountant than a PAYG taxpayer with a couple of side investments. This is why taking the initiative and doing your own investigation will give you a much better chance of getting the accountant you want. Click here .
http://www.charterpartners.com.au/