Selecting the right accountant to represent your company can seem like a real hassle. There are many professionals out there, sit becomes tough to sort the wheat from the chaff. Our clients at MoynanSmith Accountants & Tax Advisers always get the best service because we only employ experts. However, there can be a lot of confusion about the different types of accountants out there. So it’s important that you understand the variations so you can make the right decision.
What is a non-chartered accountant?
Non-chartered accountants are individuals that haven't completed qualifications with and are not ICAEW members. Most non-chartered accountants manage accurate records of the financial transactions of a business. They must be aware of compliance guidelines. Some work directly for their client's companies. The most common job for this type of accountant involves completing tax returns and dealing with issues like fund management. They can also focus their expertise on retirement packages, investment options, and more. Non-chartered accountants tend to have a lot of experience, and they perform their jobs to reasonable standards. There are no requirements for someone to refer to themselves as an accountant. So it's important to thoroughly check before choosing a non-chartered accountant.
What is a chartered accountant?
Chartered accountants are those that have completed the ACA (Associate Chartered Accountant) qualification. The ACA qualification is provided by The Institute of Chartered Accountants in England & Wales (ICAEW). Completion of the ACA involves three years of work experience and demanding examinations. So even newly chartered accountants have a wealth of experience. With three years' training, chartered accountants have a better understanding of the processes involved. Instead of focusing on tax returns, most will use their expertise to keep records of all financial transactions. This is why most chartered accountants work in commercial roles for larger firms.
Chartered accountants might also run practices, serving many different clients. This is because their knowledge can be better used by companies that need to outsource their accountancy. Many professionals end up working with big corporations, but they still handle smaller companies. Regardless of the nature of your operation, chartered is always the best way to go.
When it comes to judging the expertise of a chartered accountant, you just need to take a look at their track record. Have past clients experienced issues caused by their incompetence? Can you find any negative reviews online that start alarm bells ringing? So long as the individual has no poor reputation, their accreditation means they have the skills you need.
Finding the right accountant for your brand matters. That’s why we always advise clients to ask questions. Failure to use services like those on offer from our company means your firm may experience problems. Everyone at MoynanSmith Accountants & Tax Advisers is 100% committed to ensuring your accounts are as accurate as possible. We have ICAEW membership so we can offer the very best service as a chartered accountant. We’ll work with you to design strategies that will always keep you in the clear.
Want to learn more? Then contact us via this website and ask to speak to an advisor today. Our team will make sure you get the best information and suggestions based on their extensive understanding. So, clients can expect their businesses to improve from day one. We can even provide specialist software to help speed the process of bookkeeping and give you more time for working on your operation.