Self-Assessment is complete and I’m now gearing up for end of tax year. The break in between seems like a good time to pause and reflect on my role as accountant. My role is closely related to the duty of care to all my clients – which is built on trust. Stay with me and I’ll explain the importance of working with an accountant that you trust. Plus I’ll give you ways to spot warning signs that your accountant may not be working in your best interests.
“All things being equal people will do business with, and refer business to, those people they know, like, and trust.” ~ The Go-Giver by Bob Burg and John David Mann
Why do you need an accountant you trust?
Anyone suited and booted can exude confidence and appear trustworthy. How can you be sure they have your best interests at heart?
Good accountants recognise we’ve a duty of care to our individual clients, our collective group of clients and our professional body. One bad apple can ruin it for all.
What’s worse is if an accountant acts unprofessionally for one client they’re opening up a can of worms for all the clients on their books. Each and every one could potentially be investigated by HMRC.
Remember it’s your name that signs on the dotted line approving your accounts. It’s your reputation that is legally at stake.
What can an accountant do for you?
Put simply you can trust a good accountant with your business, personal finances and your future security.
HMRC only sees in black and white; right and wrong. As accountants we don’t blur the lines or fudge the figures.
What a good accountant does is ensure you stay in the confines of the rules by structuring your company correctly. At the same time maximising and growing your business ethically for a healthy financial future. No fines, no penalties and no time in prison.
Why a Chartered Accountant?
As a Chartered Accountant I’m bound by the rules of the professional body ICAS. I’m proud to be a member of ICAS with its international standard of excellence. For my clients this guarantees a standard of professionalism, business expertise and integrity. Underpinning the role is trust.
How can an accountant help you and your business?
An accountant will scrutinise your accounts and openly exchange information, accurately and on time. What’s more they seek ways to improve your financial position and set a steady path of ethical and sustainable growth. Achieved by healthy balance sheets, steady cash flow and sound advice.
3 warning signs your accountant isn’t honest
First sign of being untrustworthy is if your accountant is offering to fudge your records. In doing so they’re breaking the law on your behalf. You should question their overall integrity.
Secondly, they won’t answer all your questions about your business and finances.
Thirdly, they don’t provide you with regular updates and reports.
If they’re not open and transparent with you I would question what else they’re doing to blur the lines of professionalism.
How to find an accountant you trust?
Ask around at networking events, read online reviews, look at their online activity and use accountant directories such as ICAS DIRECTORY . Select a few to meet and ask lots and lots of questions.
At Murrison & Wilson the more questions the better. Questions are an opportunity to delve deeper into the workings of your company. Also discover ways to better understand your business and financial goals for the future.
If you would like to read more about Chartered Accountants our related post goes into more detail.
Simon Murrison, CA