In this case, the accountant was not a Chartered Accountant and it’s crucial you hire a Chartered Accountant. Chartered Accountants undergo rigorous tests and also have years of education behind them (at least seven years if they’re among those newest breed such as us). Using a good Chartered Accountant will reduce your chance of an IRD audit but like any profession there are good and bad ones in the mix.
So is cost a good indicator? Much like picking a heart surgeon utilizing the cheapest isn’t a fantastic idea and is picking the most expensive if you don’t have some serious issues looming. You’ll frequently get much better service and more aggressive rates compared to big firms if you are fortunate enough to find among the emerging boutique accounting companies.
BOUTIQUE ACCOUNTING FIRMS
Typically, boutique accounting companies are founded by Wellsford Small Business Accountant‘s, who’ve held senior positions from the big firms (ex-big-6) so they’ll have obtained a number of their best training in the world. Great boutique businesses are really difficult to find so that is why we’ve embraced boutique into our name and the way Boutique FinancialChartered Accountants came to be.
CHARMING ACCOUNTANT — YEAH RIGHT!
We’ve worked with hundreds of accountants over the years and we would simply trust a select few of those together with our very own accounts. Simply because your accountants a super nice guy (or gal) doesn’t mean they’re good at what they do. Even if they are a great accountant, it is likely that they’re not actually doing your job themselves as many accountants deliver work to India or down the chain to some child wearing accounting learner-plates.
BEWARE RENTAL PROPERTY ACCOUNTANTS
Another factor to watch out for would be the accountants parading themselves so called “rental-property-experts”. Accounting for simple old lease properties is in fact one of the most fundamental forms of accounting. There are definitely some fish-hooks to be on the lookout for but no longer than every other type of accounting.
CHARTERED ACCOUNTANT AUCKLAND
Lately we took to a customer that absolutely loved his accountant however like most love stories it all came to a horrible ending and we have since uncovered all kinds of shockers with thousands of dollars of overpaid tax the client won’t ever get back. The simple truth is that you are not likely to know whether your accountants any good unless you are in a position to have a good ‘poke-around-under-the-hood’ having someone who knows what they’re doing.
There can be all kinds of nasties happening behind the scenes placing you in danger and unless you’re an expert you’ll be none the wiser. Behind the scenes in the accounting world usually means the hundreds of webpages a good accountant prepares, to assess and confirm your accounts, even though you’ll only ever see a handful of those.