Choosing your Accountant

This post was published more than 43 months ago. Due to the rapidly changing nature of business and taxation, some concepts may no longer be applicable

I was recently asked by a prospective new client what I thought to be the most important consideration when looking for a new client. From a client’s perspective, all accountants seem very similar, offering similar services. Most even charge similar fees. But there is 1 key element before all else that will determine if your engagement with your accountant will be a success or not.

Simply, you must choose your accountant by whether you can communicate with them. This is not just a matter of your accountant speaking the same language, nor just your accountant speaking in terms simple enough for you to understand. You must choose your accountant based on you feeling comfortable to contact your accountant and asking for help.

You will need to discuss personal matters with your accountant. You will need to expose your finances to your accountant and allow them to comment and critique your financial (and sometime non-financial) behaviour. Without you as the client being able to talk to your accountant, your accountant will never be able to offer you the full support you need and deserve.

Communication works both ways. You should want your accountant to be your partner in your success, someone that will give you honest feedback and be your supporter when appropriate. You also need to make your accountant feel comfortable that they can pass on news that you may not like (I have yet to meet anyone to get excited about paying their taxes). You need to learn to trust your accountant over time, but having some initial doubts is healthy.

After finding an accountant that you feel comfortable communicating with, it is also important that they are not just competent at completing your compliance work but also work with you to solve problems and challenges you may face. It is also important that your accountant has the right experience to be able to assist you. It is important that your accountant is willing to push themselves for you too. It is important that your accountant can understand your situation and circumstances, and suggest solutions to any challenges you face.

Finding an accountant is easy. Finding a good accountant is not so easy. Finding the right accountant for you can take several false starts but the price for settling for an accountant you can’t communicate with will be detrimental to you and your business.

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