5 Reasons to use a Chartered Accountant
Before choosing your accountant
Unless a member of the ICAEW ( Institute of Chartered Accountants) or qualified with another professional body, anyone can call themselves an accountant, even if they have no professional training or qualifications to back it up.
We recommend you check that any accountant you approach has some formal training and /or qualification and carries professional indemnity insurance just in case its needed.
Experience
To qualify as chartered accountant, I had to pass stringent exams and carry our monitored, approved training for a range of different clients. Choose a chartered accountant that specialises in your particular field or industry, and you will benefit from specific expertise that matches your scale and type of business.
Advice you can rely on
Using a chartered accountant gives you the reassurance that the advice you are receiving . When it comes to your accounts and tax returns, chartered accountants must comply with professional development standards, ensuring their knowledge and skills are always kept up-to-date.
Integrity
I will be dealing with confidential information, so you need to have confidence that I am both trustworthy and discrete. Chartered accountants are bound by a code of ethics to uphold a set of professional principles. Practicing means demonstrating a commitment to maintaining and developing professional standards which are monitored by ICAEW
Regulated
If you use a chartered accountant you will benefit from a professionally qualified person who is bound by a code of ethics and professional standards. Not only will they have certain policies and procedures in place, including professional indemnity insurance, and complaints and disciplinary procedures, they will also undergo monitoring of compliance and quality reviews of their professional practice by ICAEW
Look for the letters FCA or ACA after their name and you can check on ICAEW website that they have a entitlement to carry on in public practice as this requires further certificate and training
More than just filing returns
Of course, you can use your accountant as much or as little as your own business demands – but if you need more than simply filing tax returns and keeping your records up-to-date, a trusted accountant can help you to grow your business and manage your risk.
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