7 Reasons why should you consider changing Accountant
22 November, 2022 BY Bibek Nepal, CPA

7 Reasons why should you consider changing Accountant

Businesses are continuously evolving over time because the industry is constantly evolving as well. It is therefore critical for business owners to stay on top of the financial information of the business to make an appropriate decision when needed.

An accountant plays a crucial role in helping business owners get the most value out of their business or investments. Many business owners change their accountant when they feel they are not getting the required help from their Accountant.

Why should you change your Accountant?

There could be many reasons why a small business decides to change their accountant. Ask yourself, the following questions and decide if it’s time to make a change:

  • Are you able to get up-to-date financial information of your business so that you can focus on what matters most in your business?
  • Do you have appropriate structures to legally minimise tax as well as enhance your asset protection?
  • Are your tax obligations being met on time?
  • Are you able to make the most of technology and software?
  • Are you getting proactive advice from your Accountant?
  • Has your business outgrown your Accountant? 
  • Are you getting value for money?

How to change your Accountant?

Many business owners find it difficult to decide on changing their accountant. This is understandable where the accountant has been a trusted advisor for years. However, the decision to change accountants is a business decision and so you don’t have to make excuses or feel uncomfortable. Following are the simple steps to change your accountant:

  • Find a new accountant. You should do proper research to make sure your new accountant will be able to deliver the services which your previous accountant was unable to deliver.
  • Talk to your current accountant, advise them that your needs have changed and so, you’ve decided to move on to another accountant.
  • Your new accountant will then send an ethical clearance letter to your previous accountant along with a request to provide any relevant paperwork.

If you are considering changing accountant, please feel free to reach out to Accountstream Tax & Business Advisors for an obligation-free initial consultation and a quote.

Disclaimer: This article is provided as general information only and does not consider your specific situation, objectives, or needs. It does not represent accounting or tax advice upon which any person may act. Implementation and suitability require a detailed analysis of your specific circumstances. Before taking any action, consider your own circumstances and seek professional advice.

 

Blog

Related Blogs

May 8, 2023
BY Bibek Nepal, CPA
Tax planning refers to the process of arranging your finances in a way that minimizes your tax li...
February 27, 2023
BY Bibek Nepal, CPA
What is Fringe Benefits Tax? Fringe Benefit Tax (FBT) is a tax levied on non-salary benefits o...
January 15, 2023
BY Bibek Nepal, CPA
  Happy New Year! It’s that time of the year to muse on what you hope to accomplish over the...
December 4, 2022
BY Bibek Nepal, CPA
Companies are subject to a tax rate of 30% on their taxable income, except for certain companies ...
November 8, 2022
BY Bibek Nepal, CPA
If you are Australian resident for tax purposes, , you will need to declare and pay tax on your w...
October 24, 2022
BY Bibek Nepal, CPA
You may be considered to have taken Div 7A loan from your company if you (or your related party)...