As tax deadlines quickly approach, many businesses are on the hunt for great accountants. To help you with your search, the Certified General Accountants of Ontario has prepared a list of important questions to ask prospective accountants.
Asking these questions will go a long way towards developing a solid relationship based on mutual trust:
Does the accountant have prior work experience with your type of business?
Does the accountant make comments and suggestions that indicate an understanding of your business? Will the accountant provide the names of clients in a similar or related line of business? If so, verify with those clients as to whether the accountant is accessible, meets deadlines, and completes work within the cost estimate.
Who will do routine work, the accountant or other staff?
Whether your accountant will be personally responsible for routine work may depend on your business needs, the size of the accountant's firm, and the nature and number of the accountant's clientele.
Is the accountant open to the idea of using other experts?
An accountant dealing with smaller, privately owned companies should be willing to seek outside advice if or when specialized business affairs warrant such action.
What is the accountant's standard billing procedure?
An hourly fee is the norm when engaging a professional accountant. Once the nature and requirements of your business are communicated, can the accountant provide an estimate?
How was the personal "fit"?
At the end of the interview, ask yourself how comfortable you felt. You want an accountant with whom you can speak freely. Someone who hears what you say and who can explain their advice clearly. Compatibility is essential when selecting a professional accountant.
How do we find the right expertise for our needs?
A CGA is the right place to begin. Trained to offer professional accounting insight and services that go beyond tax and audit, these professionals are expected to adhere to a code of ethical principles. They also participate in mandatory, continuing professional development to ensure that high professional standards are maintained.
More information on this topic is available online at cga-ontario.org or toll-free at 1-800-668-1454.
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