Hiring the right business accountant in Brisbane can be incredibly crucial to your company’s financial success, health, and growth. An experienced accountant not only makes sure your business is complying with tax laws, but they can also offer strategic advice to help your business thrive, no matter what life throws at it. If you’re thinking about hiring a business accountant in Brisbane, here are eight questions to ask potential candidates during your selection process.
1. What are your qualifications?
First things first, it’s important that you separate the time wasters from the true accountants who are going to be able to help you as much as possible. When looking for an accountant in Brisbane, relevant qualifications include being a Chartered Accountant (CA) or Certified Practising Accountant (CPA). They might also have memberships in professional bodies like CPA Australia or Chartered Accountants Australia and New Zealand, which indicate that they adhere to the industry standards and ongoing professional development in their field – which is a plus for clients like you. Bonus points if they give you any of their professional affiliations, too.
2. What services do you offer beyond tax compliance?
While tax is fundamental and often one of the most important reasons why people hire an accountant, many also offer additional services like business advisory, cash flow management, budgeting, strategic planning, and more. Asking for a rundown of all the services an accountant offers lets you understand the scope of their services. This makes sure they can support your business as it evolves, so you’re both working towards a common goal.
3. Do you have experience in my industry?
The best accountant for your business will be one who has plenty of experience in the industry you’re operating in. This makes it more likely that they’ll understand your industry-specific regulations, challenges, and opportunities. They should also be able to answer your questions with more experienced answers, offering relevant financial strategies to push your business further in a shorter amount of time.
4. Who will be handling my account?
Some bigger accountants will delegate certain tasks to junior staff, so it’s important to know who will be working with your account. Decide whether you’re comfortable with junior staff handling your accounts, or if you’d prefer only one accountant working on your case. Understanding who will be responsible for your financials right off the bat will make sure everyone stays accountable and that you know who you need to be in contact with.
5. How do you structure your fees?
Accountants can decide how they charge their clients. If you have a preference between hourly rates, fixed rates, or retainer packages, make sure you find a service provider that adheres to this. Asking about fee structures (as well as if there are any hidden fees that you should be aware of) in the interview process can help you budget accordingly while avoiding hidden costs. This makes working together much smoother and more enjoyable for both parties.
6. What is your approach to tax planning?
Tax planning can save you a significant amount of money, so it’s vital that you and your business accountant are on the same page when it comes to the approach you use. Asking about their tax planning strategies upfront gives you a good idea of how they’re planning to stay updated with the changing tax laws to benefit your business as much as possible. Shopping around is wise here, so you’ll have several options to choose from.
7. How accessible are you for questions and emergencies?
Timely communication is essential between the client and the business accountant, so we recommend asking about availability straight away. Some accountants are happy to take calls between business hours, while others prefer emails or other channels of communication. If you have a strong preference, make sure this aligns with your chosen advisor. Response times are also crucial, so get an average from each candidate you’re considering.
8. Can you provide me with references from similar clients?
Requesting references is extremely important when looking for a business accountant, as it helps you gauge the accountant’s reliability and effectiveness. Accountants without any references from clients might be inexperienced in your industry, which is something to consider when making your final decision. Speaking with past or current clients can give you an insight into an accountant’s working style and the value they bring to others – similar to what they’d be able to do for you.
Find a trusted business accountant in Brisbane today
Choosing the right accountant for your business involves more than simply assessing qualifications – it’s about finding a trusted advisor who understands your business and can contribute to its success. By asking the right questions, you can position yourself to make an informed decision that aligns perfectly with your goals for your company’s future. Check out business accountants in Brisbane to learn more about what small business accountants can do for you today!
