A chartered accountant has a professional designation that is recognized all throughout the world. They are experienced and qualified to work in all areas of the finance industry, such as taxation, management, and auditing. When you choose a chartered professional accountant for your company, you are choosing someone who has a college degree and work experience.
Of course, not all chartered accountants have the same level of experience. Some have been around in the industry longer than others. If you want to pick the best chartered professional accountant for your company, then you’ll probably want one with the most experience. However, some chartered accountants have expertise in specific areas of business and finance. This might be the deciding factor over which one you hire.
Just because someone advertising themselves as a chartered accountant, it doesn’t mean they are automatically right for your company. You need to learn more details about their past experience with other companies. For instance, if they specialize in preparing tax returns, what size companies do their clients have? Big or small? Also, if there is a lot of cloud software and technology used in your business, you’ll want to be sure that your chartered accountant is familiar with cloud computing too.
2) Talk to Business Advisers
There are many types of business advisers in your local area who can advise you on various chartered accountants. Check the local chamber of commerce or with other small business owners in the area and ask them if they can recommend a reputable chartered accountant to you. This can be the fastest way to find a list of high-qualified and experienced chartered accountants who have already established themselves in the city or town that you are in.
3) Search Social Media
Sometimes social media can be a great place to research a chartered account. Social media gives you access to a wider range of small business owners and other people who have used accountants in the past. You can even see customer reviews and star ratings for the accountants in your area. This is the fastest way to screen large quantities of potential accountants.
4) Check the Canadian Institute of Chartered Accountants
To verify the credentials of a potential chartered accountant, you should search their name and profile with the Canadian Institute of Chartered Accountants. In Canada, chartered accountants are members of this organization. It verifies that its members have completed the necessary education and experience requirements to officially hold the CA designation.
How to Choose the Right Accountant for Your Business
Whether you have just started your business or own an existing business, you’ll need to choose the right accountant for it. That way, you’ll be able to organize your financial statements and grow your business to all new heights. Just don’t make the mistake that a lot of business owners make by searching quickly on Google for an accountant. Even if you find some reviews for various accountants, you still won’t have a clear picture of who they are or what they can do for your business. After all, everyone operates a different business and some accountants may be better for your business than others.
Below are the 5 best ways to choose the right accountant for your business.
1) Technological Skills
Any accountant in the modern age should be proficient with accounting software on the computer. QuickBooks and Xero are two online accounting platforms that every accountant must be familiar with. Not only do they reduce the chances of errors and inaccuracies, but they speed up communication and the entire accounting process in general.
2) Check TheirCertification
Check to make sure that your accountant is certified in their given designation. Canada has four possible designations for an accountant; CPA, CA, CGA, and CMA. If they are a CPA, then it combines the other three designations into one. Most small businesses will search for a certified CPA. This is someone who is a member of the Canadian Institute of Chartered Accountants. It means their education and experience have been verified.
3) Security Level
Your accountant needs to take the security of your information seriously. Whenever they transmit your private information on the computer, they must have encryption software that is actively keeping it safe and secure. That way, hackers or other unauthorized third-parties cannot access it and cause you trouble. Therefore, only choose accountants which have all their security software and technology up to date.
4) Multiple Services
Many accountants will do more than one service for a business. Instead of just hiring an accountant for bookkeeping services, you can also get them to do payroll and financial management services as well. Then you won’t need to hire multiple people to take on these different tasks.
5) Business Advisemen
CPAs can be business advisers for your company. Based on the financial statements, they can give you the best advice on how to proceed forward with a financial decision. This could be a decision for a new investment or company expansion, for instance. Find an accountant, or CPA, who has a history of giving effective advice to business owners. If your business needs professional accounting or tax services, contact MDP LLP.