Top Five Reasons to Opt for a Chartered Accountant
There are a lot of people who believe that it doesn’t make a difference if one’s accountant is chartered or not, but it does make a huge difference! You want your finances and taxes to be handled in a professional and ethical manner at all times to avoid serious consequences from arising. The following are the top five reasons why you should opt for a chartered accountant.
With an unregulated accountant, you are a greater risk of mistakes on reporting, indiscreet practice, missed deadlines, building a poor reputation.
1. To Obtain Adequate Advice
You need advice that is informative and accurate, which is what you can obtain when you are dealing with a chartered accountant. This type of accountant can keep your money safe, as they must comply with professional development standards. Due to this, you can rest assured that their skills and knowledge are always up-to-date.
When you deal with a chartered accountant, you will rest assured knowing that they are a qualified individual that follows the code of ethics and every professional standard set by the CPA Association. They abide by procedures and policies that have been established by the law. They undergo quality reviews and have professional indemnity insurance.
3. Backed by Meaningful Experience
To qualify as a chartered accountant, your accountant first has to undertake work for a lot of different clients across a variety of different industries. By doing so, accountants build strong personal judgement and business awareness. It’s important that you choose a chartered accountant that specialises in the industry or field you currently find yourself in. If you do this, you will obtain the services of an accounting firm with the type of expertise that could aid you in great measure.
4. Meaningful Integrity
You need to have confidence that your accountant can be discrete and trustworthy, and he or she will be handling your business and personal finances separately. Since this type of accountant is bound by a code of ethics to follow professional principles to put their clients’ interests first, it makes them your best bet. They come accompanied with integrity, which is definitely what you should be looking for when looking to hire an accountant.
5. Can Aid in Different Areas
A trusted accountant can help you in many different areas, from keeping records up-to-date, filing tax returns, manage your risk, help you grow your business, etc., which is one of the top reasons why so many people are opting for them.
Consequences of Hiring an Unregulated Accountant
With an unregulated accountant, you are a greater risk of mistakes on reporting, indiscreet practice, missed deadlines, building a poor reputation, etc. All of these elements can damage your business down the road.
You can easily become a victim of an unlawful practice. Just so you know, not following accounting standards and practices is not an acceptable form of defence when it comes to false reporting; thus, you might be held accountable for utilizing the services of an unregulated broker. If you stop to think about it, it is definitely better to hire a CPA because they are regulated and bound by the law.
As a Chartered Professional Accountant in Surrey, CP Lehal & Company can provide affordable accounting and financial services to minimize tax liability, and maximize your tax savings. Our Surrey Accountant provides clients with utmost assistance in Corporate and Personal Tax, Auditing, Review Engagement Reports, Business Consulting, Bookkeeping & Payroll, T4, GST, WorkSafeBC (WCB) and Employer Health Tax (EHT).