If you decide your business needs the services of an accountant, you should take care in deciding who you hire. You will need to consider factors such as experience, location, fees, and ultimately how much of a net positive your accountant is.
The right person for the job should be experienced in saving you both time and money. Here are some things to consider when entrusting someone with your company’s finances.
Location
When you consider your accountant’s location, you need to consider how your business operates. Do you need an accountant in person, or can your finances be managed online? More companies are utilizing cloud-based shared working environments, making it easier to hire a remote accountant whom you can grant access to relevant information.
That being the case, location is no longer an issue. Your accountant could potentially be located anywhere in the world, allowing you to focus on looking for someone based on other factors, such as experience.
Alternatively, if your business does not utilize this technology (or you simply prefer face-to-face contact with your accountant), location is one of the first factors to consider. Your options are then limited to accountants who reside near your business or are capable of travelling there when necessary.
Chartered or Certified
You should consider whether your business requires a Chartered or Certified Public Accountant. You should also consider the scale of work your accountant will take on, in addition to what your business needs and where you are located. Both Certified and Chartered accountants are highly experienced and have completed above degree-level education, accompanied by extensive professional experience. The only difference is that Certified accountants can work internationally due to their status under the ACCA.
This might be more applicable if you need to make use of an accountant internationally. Additionally, this brings you peace of mind in knowing your accountant is regulated by a recognized professional body.
Consider multiple candidates
Before you decide on an accountant, you should interview multiple candidates. Interviews will provide you with information on an accountant’s qualities and background. With this in mind, you should weigh this up against their expected fees and workload.
After you have interviewed a good sample of candidates, you should compare their professional experience and qualifications, and compare this with what your business needs. Does your business require the most highly qualified person for the job available to manage its finances, or can you save expenses with a less experienced candidate? At the same time, you ideally want someone with more utility if you are audited, and is proactive about saving you money. Therefore, your choice should lie with the person who will provide the biggest net positive to the company.
Consider these tips for choosing an accountant, and get in touch with us to find out more about how your company’s finances can be managed in a way that works for you.
