Whether you run a multinational company or a small startup, selecting the right accountant for your needs can make or break your business. According to recent research from Onpay, 86% of small business owners view their accountants as a trusted advisor and 82% believe their accounting firm knows their business inside out.
With these statistics in mind, this article explores five key characteristics to consider when choosing an accountant to match your business needs. Discover how these qualities contribute to building a trusting relationship with your accountant, spurring your business to new heights.
Technical Expertise to Streamline Accountant Support Tasks
Choosing an accountant with technical expertise in selecting the best financial reporting and management software will ensure that your business can automate tasks and streamline finance teams’ workloads. Additionally, the latest accounting technologies can significantly decrease the risk of accounting errors, giving business owners peace of mind.
Prioritising Deep Industry Knowledge to Drive Success
Choosing an accountant with experience in your industry will help you overcome your unique business challenges and seize new revenue-generating opportunities.
Moreover, they can help you understand how changing tax regulations and market trends may impact your business, helping you prepare for all eventualities before they become an issue for your business.
Maintaining Strong Ethical Standards of Practice
Maintaining high ethical standards is vital in the accounting industry. This includes handling sensitive financial information securely, offering advice ahead to inform financial decision-making (such as corporate relocation strategies), and maintaining complete objectivity in financial reporting practices.
This previous article examined the red flags accountants should look for to identify high-risk clients. It concluded that in some instances, walking away from clients that may, for example, present misleading information about their company’s finances, is necessary to protect the accounting firm’s reputation. So, make sure that as a business owner, you also maintain ethical business standards to establish a strong and lasting relationship with a reputable accounting service provider.
Communicating Accountant Support Services Clearly and Empathetically
Effective communication skills should be a top priority for modern accounting firms, as business owners are increasingly communicating across various digital platforms round the clock, seeking the advice and support they need to advance.
Choosing an accountant that’s skilled in explaining financial concepts in simple terms is an admirable and valuable soft skill for an accountant to possess.
But, more importantly, the best accountants are empathetic and quick to respond to your queries, fostering a collaborative relationship that will last for years to come.
Attention to Detail, Contributing to Proactive Accountant Support
Meticulous attention to detail is a hallmark of an excellent accountant. This innate quality, in many cases, draws people to the profession in the first instance. Ensuring accuracy in financial reporting, tax filing, and compliance protocols is essential for avoiding costly mistakes.
A detail-oriented accountant will also provide proactive accountant support through data analytic findings. Their insights into your financial data will help you make informed business decisions to help you stay ahead of your competitors.
INAA: Connecting Businesses With Expert Accountant Support
At INNA, we connect business owners from all industries and worldwide with experienced and reliable accounting professionals dedicated to improving their industry knowledge.
We set up events, one-to-one networking opportunities and provide the educational resources needed to succeed in this ever-changing and competitive industry. So, if you run a global business or even a small startup, read our client benefits page to see how INAA can help you. Alternatively, if you are an accounting expert looking to raise your game and meet like-minded professionals, join INAA today.