How to Choose the Best Chartered Accountant for Your Business

So, what exactly is a Chartered Accountant?

Before starting your search it’s important to get one thing clear in your mind: non-chartered and chartered accountants are not the same thing.

A chartered accountant is someone who has gained an accounting degree from an approved university AND has proven their knowledge and skill in the accounting profession by completing a Graduate Diploma of Chartered Accounting and has demonstrated three years of mentored practical experience with an approved employer.

Basically, they know accounting inside and out! A non-chartered accountant may still have some skills and qualifications, but they have not gone through the same stringent CA qualification process and do not hold membership to a professional body like Chartered Accountants Australia + New Zealand (CA ANZ).

That’s why we always recommend working with a chartered accountant.

You can find out more about the differences between the two in our recent blog here.

Choosing The Best Chartered Accountant

Here are the steps you can follow to find the best chartered accountant for your business:

Step 1: Cast Your Net

Start your search for an accountant by taking recommendations from colleagues and networking contacts. Don’t forget to check directories and online business groups too. Thanks to technology, you won’t be limited to the local accountants in your town, though you should add them into the mix if you feel they might be a good fit.

Just remember to contain your search to New Zealand based accountants so you can ensure they have the necessary specific knowledge about our tax system and legal obligations.

Step 2: Narrow Your Search

You’ve probably got a number of accounting options on the table after your initial search. So, it’s time to narrow those options down to a shortlist of who you think will be the best chartered accountant for your business.

Consider each of the accountants to determine whether they have the chartered accountant accreditation, if they have specialist knowledge in your industry, what kind of a vibe you get from their website and other marketing material, and what their rates look like.

Step 3: Connect With Your List

Now it’s time to narrow it down to the very best chartered accountant options available to you. Do this by having an introductory chat with each of the options on your shortlist.

These are the things you should discuss in that chat so that you can make an informed final decision:

• Discuss their preferred communication channels to check whether it’s a viable method for your business
• Ask for them to send you a quote with their rates to establish if it’s within your budget or not
• Find out about their pricing structure and what is included – will you be charged for each time you contact them or is there a flat monthly fee?
• Check that they have expertise in your chosen accounting software
• Assess what kind of vibe you get when talking to them, are they someone you can see yourself confidently working with
• Check their availability to see if it will meet your needs
• See if they have worked with businesses in your industry before and whether they have the necessary skills to handle your business needs
• Discuss if they offer business advisory services along with standard accounting services – business advisory can be invaluable for growing your business.

Step 4: Finalise Your Choice

After you’ve had the chance to speak with each of your options, it should be clear which is the best chartered accountant for your business. It is vital that you don’t rush into the decision of choosing an accountant as a good accountant can contribute to the success or failure of your business.

Choose someone you think you can partner with for the business journey. You should have trust in their ability and be certain that they will be responsive and helpful when you need them to be.

Step 5: Confirm Key Details

Once you have selected your chartered accountant, you will need to go through the onboarding process with their firm.

Be prompt in sending the requested information and keep to any deadlines that your accountant sets for you. That way, they will always have everything they need to stay on top of your finances.

Make The Decision An Easy One

The above process will help you to find the best chartered accountant for your business. But, you could make the search even easier by just getting in touch with the Drumm Nevatt and Associates team now. We are a registered Chartered Accounting Firm offering expert service with a personal touch.

We offer a full range of accounting and business advisory services all designed to help your business succeed in the New Zealand market.

So, why not book a time to chat with us today and take your first step towards having an expert chartered accountant on your team!