When we think about accountants, we always imagine someone who is really good at math and is able to sort all your numbers out for you in a jiffy. Most people also do not know that there are actually many different kinds of accountants as well.
The one we are going to look at today are actually called chartered accountants and they are usually known for their higher technical skills and standards. In addition to their technical skills, they are also always up to date with all the current legislations and laws surrounding the job that they are required to keep up with.
Having a chartered accountant means that no matter what, you will have a licensed professional handling your account. When a professional is entrusted with your account, you can be a little more assured that someone trustworthy and technical is handling your assets.
So here are some of the advantages we have found from using a chartered accountant :
They Are Highly Regulated
This is one of the most important benefits as it ensures that your accountant is bound by certain ethics and codes. These ethics and codes are updated regularly so you know that your accountant is doing things the right way. They also have very high professional standards which will allow for better work in the process.
They also have a lot of standards of procedures that they will need to master. In addition to that, they also have proper outlets for you to give feedback if something goes wrong. If things related to compliance and safety get affected, you can be rest assured that there will be someone there to fix it.
The Are Reliable
If you have been trained and regulated by the highest governing body that is available, you can be sure to be a more reliable accountant compared to the ones that are not. So if you are looking for an accountant, hiring a chartered accountant would be your safest bet as you will be sure that your money will be in safer hands.
As we have mentioned before, they do have to comply with very strict regulations, and this will definitely help with reliability with things like their work and timeliness. Using a chartered accountant guarantees that you will be engaging with a professional that is compliant with industry standards and their skill set is always up to date.
They Have A Lot More Experience
As chartered accountants, they will be highly sought after. This allows for them to always have clients. When they are always up and about with different types of clients they will be a lot more exposed to different kinds of companies and situations. This can only add to the fact that they will know a lot more than the normal person when it comes to handling your accounts.
They will be exposed to multiple different types of clients across a range of industries and this will definitely help them help you better. With vast experience and hands on work, they will pick up all the different skill sets that you can only get when doing work first hand.
They Will Have Integrity
Again, as mentioned, chartered accountants are bound by a lot more codes of ethics and procedures that will make sure they are more trustworthy. It’s not to say that another accountant won’t be as trustworthy, but knowing that it is part of their creed and training will make you feel that little much better.
With the new MBRS tool made by the SSM, your financial reporting and accounts will be a lot more secure as it will be done via the tool. This tool will help all accountants working on your business to have easier tools and access to reporting.
Before you hire them, please make sure that they are MBRS certified!