“Do you know how to find a good accountant?” by Steve Marsten

I was asked recently by an under 30’s businessman how to find a good accountant. It’s a good question and I guess there are several ways to approach it. Many people check out social media and ask others. That may well be okay, however it depends on how you want to use an accountant and more importantly, whether those who are recommending are in business or just get their tax returns prepared.

People in business need to be sure about a number of key points:

1. Are they certified or qualified?
2. How experienced are they in your industry? How long have THEY operated a business?
3. What expertise do they have in advising business owners?
4. Do their clients recommend them?
5. What networks are they associated with?

So you can call us biased, however accountants who are CPA or CA accredited are qualified professionals who have had to complete a degree-level of study as well as considerable on the job experience to ensure they have reached a certain level of competency. Everyone’s entitled to use someone who isn’t certified however for a business, it may not be a wise move. Recently an accountant in Gladstone maintained he was qualified but could not produce any certificates and certainly was not registered with the relevant professional bodies.

The next step is knowledge about the industry your business operates. Some accountants specialise in particular industries, while others are specialist in a limited number of industries. Others of course are simply all-rounders. The key is making sure they have some experience and are aware of key business drivers within your business industry.

Consider their experience in providing business advice or do they just focus on tax returns and compliance? Again if it’s the latter – it may not add a lot of value to your business.

Ask other business owners if they shop local – who do they use and why? Listen carefully to the why. Accountants who can demonstrate their value are more likely to be beneficial to your business regardless of what they charge you.

Finally, what networks are they associated with?  Do they use up to date technology for their bookkeeping? Do they follow their own advice? I wouldn’t want a retail salesman servicing my car; hence I would be concerned about taking advice about investment property from someone who doesn’t own any!

Good accountants work with you. They are available, accessible, keep up to date and have the necessary experience to add value to your business. Gladstone is blessed with some good advisers. At Sothertons we offer new clients a no obligation consultation to get to know us and vice versa. Call us on 07 4972 1300.