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.In your business, it is imperative that the accounting and tax advice you receive is accurate, up to date and relevant to your business goals.
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, helping 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 the letters ACA or FCA after their name, you can be assured that your accountant has undertaken a rigorous training regime, has 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, so here is some guidance on what makes a Chartered Accountant the best professional out there, so you can ensure your business finances are in the best possible hands.
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. Training continues after qualification and Chartered Accountants must continue to report to the ICAEW that they are maintaining knowledge of current legislation and 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, taxation, financial reporting and auditing. Although the majority of small to medium sized companies no longer require a statutory audit, the experience and training in this arena means the principals of efficient business systems and management can assist you in developing the right structure to 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 and framework for quality assurance, to provide Chartered Accountants with ongoing assessment and 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 supplied only by approved insurance companies. In addition, each Chartered Accountancy firm must have a complaints procedure and if required clients can ask the ICAEW intervene to resolve issues.
At Vital Statistics vs4business we are passionate about seeing businesses grow and take a proactive approach to helping you improve your business results. We ensure that you understand your numbers, help you plan for the future of your business, and we provide the ultimate guarantee of quality, integrity, qualifications and experience.