Is your accountant giving you the very best business advice?
At Vital Statistics Chartered Accountants our company ethos and outstanding reputation has been built on providing our clients with intelligent advice based on our expert professional knowledge. We foster a relationship built on trust, and our clients get excellent value from advice specific to their business needs.
Sadly, the term Accountant is not regulated. This means that anyone may call themselves an accountant without necessarily having relevant business experience or professional training. And without having gained recognised professional qualifications. Most business owners would expect every accountant to provide the same standard of service. But that is so often not the case. Unfortunately, many have found, to their cost, that the poor advice they have received has literally cost them thousands. Your business goals are important. So, it’s imperative that the accounting and tax advice you receive is accurate, up to date and relevant.
First and foremost, you need to be 100% certain that you are getting the best possible business advice. Your accountant should be qualified and have the relevant experience and training required to guide you in business. They should help you move to effective accounting systems and to navigate the intricacies of the world of tax.
Accountants you can trust!
A Chartered Accountant is regulated by the Institute of Chartered Accountants in England and Wales (ICAEW). With ACA or FCA after their name, you can be assured that your accountant has undertaken a rigorous training regime. They have rules to follow and a reputation to live up to.
As your business is important to you, it’s vital that you make the right decision. You need to ensure that your business finances are in the best possible hands. So, here is some guidance on what makes a Chartered Accountant the best professional out there.
Training as a Chartered Accountant takes a minimum of three years with a firm that is authorised by the ICAEW. In addition, the training process ensures that each Chartered Accountant is proficient in communication skills, business awareness and professional judgement. The training continues after qualification. Chartered Accountants must continue to report to the ICAEW that they are maintaining knowledge of current legislation. And also, that their Professional Development and Training is relevant to the services offered to their clients.
Qualifying as a Chartered Accountant means that your accountant has successfully passed demanding exams on:
- financial management
- business analysis and strategy
- financial reporting
The majority of small to medium sized companies no longer require a statutory audit. However, the experience and training in this arena means the principals of efficient business systems and management can assist you. The right business advice can help you to develop the right structure and, in turn, help you grow your business.
High standards of ethical and professional conduct are required by the governing body of Chartered Accountants. The ICAEW provides its members with a structure for quality assurance. It provides a framework of ongoing assessment for Chartered Accountants which encourages the development of their services. This further establishes a commitment to maintaining and developing the highest professional standards.
Safeguard your Business
Finally, the ICAEW ensures that clients’ interests are protected by ensuring that qualified Chartered Accountants hold adequate professional indemnity insurance. The insurance must be supplied by approved insurance companies. In addition, each Chartered Accountancy firm must have a complaints procedure. And if required, clients can ask the ICAEW to intervene with resolve issues.
At Vital Statistics, we are passionate about seeing businesses grow. Which is why we take a proactive approach to helping you improve your business results. We ensure that you understand your numbers and help you plan for the future of your business. We bring a wealth of knowledge which provides you with the ultimate guarantee of quality, integrity, qualifications and experience.