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Anonymous
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Asked: 2020-01-01T12:42:01+00:00 In:

How to choose the right accountant for your business?

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I am planning to start a business and looking for an accountant. I have no experience in running a business or company before. What do I need to know before hiring an accountant?

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    2 Answers

    1. This answer was edited.

      Consider the following:

      • Please make sure that it is a registered accountancy firm
      • Find who is it registered with like ACCA, ICAEW, CIMA etc. It is important in case if there is any misconduct so you can report it to the relevant authority.
      • Ask an engagement letter or contract
      • Keep the key correspondence through email rather than verbal
      • Check how opened is i.e what others are saying about the firm. You can check it on Google Review, Trustpilot etc.
      • Make sure that you talk to a few accountants before so at least you would know what you should be expecting from the accountant as well as the cost.
      • Remember, ask for the full accountancy fee, which you can pay every month through a direct debit.
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    3. Level 1

      You also need to understand the basics of accountings like what is annual return, company accounts, VAT etc. There may be a lot of free short courses in your area for which you can sign up and then you would be good to go.

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