Areas to Control A-G

Control - Accountant

1. Engage Only a Good Accountant
A qualified accountant is the logical choice if you want to negotiate a clear path through the labyrinth of the modern workings of the business world. Your accountant is a multi-skilled business professional who has the knowledge and the experience in business practice to help you succeed. However you need to look for a good accountant and not accept “any old advisor” just because they have the label “accountant” on their door.

There are many things that you can do to help your accountant give you the best help for your business. Your accountant is human like anyone else. They make mistakes, they forget appointments, they forget to return your phone calls, they often appear not to understand you, they can’t work tax miracles for you when you make high profits, they are easily misunderstood, they are hard to get hold of and their fees continually appear too high.

Many accountants need to shake their ideas a little and take note that it is their clients that keep them in business. They need to remember that good service is the key to a successful accounting practise. Even if you have been with the same accountant for many years, you should always monitor the performance of your adviser.

2. Check Your Accountant’s Performance
Some points that you need to consider when you are checking up on your accountant’s performance include the following:

  • Is your accountant available to you when you need him or her?
  • Does your accountant return all your calls within a reasonable timeframe?
  • Do you feel that your accountant is up to speed with the latest changes in business and taxation matters?
  • Do you feel that your accountant is concerned with the affairs of your business or are they too busy with other things?
  • Does your accountant offer advice and a newsletter setting out changes that could be of an advantage to your business?
  • Is your accountant someone that you believe is honest and ethical in all his or her ways?
  • Do you feel that you are getting good value for the fees that you pay?
  • Is your accounting fee in line with the amounts you have paid in the previous years if the same amount of work has been required for these years?
  • When you ask your accountant a question do you receive a clear answer or do you come away more confused than at the start?
  • Does your accountant have a stable business? Is the turnover of staff low? Do staffs appear well trained and happy in their work?
  • Do you feel you have confidence in your accountant? Can the accountant help in any situation that arises?

These are just a few of the questions that you need to address if you want to ensure that your accountant is giving you the best for the money that you pay. If you are happy with your accountant’s services there is no need to take matters further.

If you are not satisfied then it might be time to have a meeting with your accountant so your concerns can be put on the table. If you are still unhappy after such a meeting - change your accountant.

Do it the same day and move on.