Benefits of Choosing a Local Chartered Accountancy Practice

Introduction
In this article we will be discussing the benefits of using a Chartered Accountancy’s
services compared to a Non-Chartered Accounting Service Provider. In
addition to this we will be discussing the benefits of choosing a local chartered accountancy service provider compared to using providers that are abroad.

Benefits of choosing a Chartered Accountancy Service Provider:
1) For advice you can rely on
Using a chartered accountant gives you the reassurance that the advice you are
receiving is both accurate and informed. When it comes to your finances, you
need to know your money is in safe hands – chartered accountants must comply
with professional development standards, ensuring their knowledge and skills
are always kept up to date.

2) They are regulated by professional bodies
Work with a chartered accountant and you’ll benefit from a professionally
qualified individual that is bound by a code of ethics and professional standards.
Not only will they have certain policies and procedures in place, including
professional indemnity insurance, and complaints and disciplinary procedures,
but they will also undergo monitoring of compliance and quality reviews of their
professional practice.

3) Backed up by experience
To qualify as chartered, your accountant will have had to carry out work for a
breadth of different clients across a range of industries. Building acute business
awareness and strong personal judgement, they’ll most probably have gained
experience working with businesses that are high performing to those under
financial pressures

4) Because integrity matters
Your accountant might be dealing with your personal and business finances, so
you need to have confidence that they can be both trustworthy and discreet.
Chartered accountants are bound by a code of ethics to uphold a set of
professional principles.

5) More than just filing returns
Of course, you can use your accountant as much or as little as your own business
demands – but if you need more than simply filing tax returns and keeping your records up to date, a trusted accountant can help you to grow your business and
manage your risk.

The consequences of using an unregulated accountant
Unless chartered or qualified with another professional body, anyone can call
themselves an accountant, even if they have no professional training or
qualifications to back it up. So where does that leave you if your accountant
makes repeated mistakes, has provided you with dodgy advice, or has even
broken the law?

If you’re using an unregulated accountant, you’re at greater risk of missed
deadlines, indiscreet practice and mistakes on reporting – all of which can result
in extra hassle for you and unnecessary mounting fines. Equally, it can lead to
your company building a poor reputation, which can be just as damaging to your
business in the long run.

But poor accountancy behaviour can also raise flags and unwanted attention
from HMRC and you might just find that you have become the victim of unlawful
practice. False accounting fraud (when accounts are manipulated, destroyed or
defaced to present accounts that don’t reflect their true value) is a criminal
offence – and at worst, can result in imprisonment for those responsible. What’s
more, not understanding accounting practices and standards isn’t an acceptable
defence for fraudulent reporting, so you may be more accountable than you
realise.

If you’re concerned about the way your accounts are managed or would like
some friendly, no-obligation advice, get in touch with us here at Cheylesmore
Chartered Accountants, we’d be happy to help.

The Benefits of a Local Accountant
It makes sense to be able to use quality services wherever they are. It makes
even more sense when that expertise is just around the corner.
Take the best in bookkeeping in Coventry as an example.

If you’re in the area of Coventry, Birmingham or looking at accounting in
Cheylesmore, you have a local team at your disposal for any financial matter. Whether it’s payroll, tax accounting services and financial planning, heading to
your local expert means saving time and money.

No-one wants to be ‘just another client’, or worse, just a number. A local
accountant can give you a special edge with a true one-on-one service.
With a local accountant on your side, you also have the benefit of;

Personal service
Quicker response times
A higher priority
Lower charges

It’s not just knowing your name and your situation. It’s about knowing you on a
personal level which gives you a level of service that a larger firm or franchised
accountant cannot match.

Having the ability to reach them if you have any questions or queries and
experiencing a personal level of care gives you great peace of mind.
That means you are always in the know about what is happening with your
finances and any issues can be resolved sooner rather than later.

This is often not the case with a large accountancy firm who must juggle their
priorities based on the importance of the bigger paying clients over smaller ones.
It’s a typical complaint that a small business feels neglected and ignored with a high-profile accountancy.

Value for money
The other benefit of teaming up with a local accountant are the costs and
charges.

A big-name accountancy firm will almost always charge a higher rate than a local
accountant. This is usually to cover the expenses of an office in the City Center
whilst having the chance to add the charge of their reputation.

Couple with the added costs of having to travel to and from the city and the
stricter timeframes of meetings and added charges for delays, a local accountant
is a better option in more ways than one.

Local Knowledge
One of the truest facts of working with a local accountant is their local
knowledge. They deal with businesses in the same locality as yours, and they
understand the local and regional challenges that you are likely to encounter, as
they’ll have seen it many times before. Build into this, they are more likely to
have a strong knowledge of local government grants, local funding and business
enterprise incentives, and you could end up much better off for sticking local.

Conclusion
We have highlighted the importance of using a Chartered Accounting firm in
addition to using a local one. If you are in Coventry and are convinced on
using a Local Chartered Accounting firm, then look no further than Cheylesmore
Accountants.

Feel free to reach us and our team will guide you through any accounting issues
you may be facing.