Having a skilled and trustworthy accountant is paramount for the success of any business. However, the market is not immune to individuals who may pose as qualified professionals but lack the expertise and integrity required for the job. I call them “Pretenders”. They want to appear to be something that they are not. I’ve seen plenty of these at all levels of professional accounting. My favourite clanger, if you will was when I dealt with a firm on behalf of a client who was exploring their options around the Deferred GST scheme for importers – something everyone who is in professional practice should be across. Two of the partners of the firm asked if I meant arranging a payment plan for a GST debt. Incompetent and scary at the same time and then I needed to find a new home for the client!

These pretenders wreak havoc on your financial stability. Here’s my thoughts about avoiding pretenders when appointing an accountant and why it is not just a good practice but a necessity.

Financial Expertise Matters

Accounting is a nuanced field that demands a deep understanding of various financial principles, regulations and industry specific nuances. Pretenders generally lack the necessary experience or ability to think laterally to navigate the intricate landscape of accounting. Your accountant needs to provide invaluable insights and help optimise your financial strategies
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Legal Compliance and Risk Mitigation

A good accountant is well versed in the landscape of legislation. Pretenders are generally not up to date with the latest legal requirements therefore exposing your business to unnecessary risks. As you know errors can result in hefty fines and legal complications and jeopardise the financial health of your enterprise.

Strategic Planning

A good accountant goes beyond basic bookkeeping tasks and filling in boxes. They should play a pivotal role in strategic financial planning. Pretenders lack the foresight and analytical skills needed to assist in long term financial decision making. They just want to fill in boxes and be left alone but be handsomely paid at the same time!

Efficient Resource Management

Pretenders don’t possess the efficiency and precision required for effective resource management. Inaccuracies lead to misguided business decisions which hinder growth and profitability. Good accountants ensure that your resources are optimised and provide a clear picture for informed decision making.

I have worked in and around accounting for over thirty years at all levels and I know who knows what they are talking about. If you’re thinking of appointing a new accountant let me know! Happy to help you with a recommendation!

I connect you to the people you need to be connected with!

www.anthonytuite.com.au