Accountants have an important role to play in the business world. And as the nature of businesses continues to evolve, so does the role of accountants. In this modern day and age, accountants have more to offer than just calculating and balancing company records.
Actually, their job portfolio has transformed to include services such as risk, management and technological related recommendations. What this simply implies is hiring an accountant is more demanding than it was a couple of years back. So, how do you choose a reputable consultant to handle your audited financial statements?
Here are two things you need to factor in your decision:
Qualifications and Licensing
This is by far one of the most important vetting factors you need to consider before hiring an accountant. Whether you decide to hire a practitioner or an accounting & tax firm, you have to verify their academic standing. Remember there are two certifications in this regard i.e. Certified Management Accountants (CMAs) and Certified Public Accountants (CPAs).
These two levels of qualifications require one to stay up-to-date with changes happening in the industry. If the prospective accountant is not willing to share the qualifications and licensing, then you should not hesitate to look elsewhere.
Service Charges
Aside from the qualifications and licensing, you must also factor in the accountant’s billing rate. Professional accountants tend to charge by the hour or offer fixed service charges. For you to avoid breaking the bank, it is highly advisable that you compare the quoted fee with your budget.
It is important to note that the total costs needs to be reasonably proportional to the complexity of the task at hand. At the end of the day, you’ll always get what you are paying for. To cut the long story short, you should opt for an accountant who has put in place customer-friendly prices.
Rounding Up
Hiring an accountant is a step in the right direction in your quest of achieving business success. As is the case with any other service provider, you should do some research and find out more about the accountant you want to hire before having them handle your audited financial statements.
Be sure to examine important things such as availability, service charges, specialization, qualifications and licensing. That way, it won’t be long before you finally find a reputable accounting & tax firm or account you can rely on at all times.
