There are many reasons why it is best for your business to hire a chartered accountant. Perhaps the most important is linked to the key word, 'professionalism'. Every person who adds up money and 'accounts' for how it is earned, saved and spent is an accountant. Not everyone is a professional accountant.
Chartered accountants institutes started in Scotland about a hundred years ago. They were started to protect professional standards and ethics, and still do that in the countries where they have been instituted. Members have first completed academic degrees, before passing through the rigorous professional requirements of their professional institute. They will also have completed some time working in the lower echelons of a professional firm, learning at the coal face of accounting.
Acceptance is usually dependent on passing board examinations. These are set to high standards for good reasons. Any sensible professions will want maintain high professional standards in order to protect the standards and incomes of people already in the profession.
Even after a person has been accepted as a member of a chartered accountants' institute strict rules require him up to scratch, he is required to keep abreast of developments and deliver excellent services to his clients. Failure or negligence in any area may lad to disbarment from the profession with consequent loss of earnings.
In addition to learning the intricacies of accounting systems and procedures chartered accountants have the lesson of prudence instilled in them. That means that they tend to be ultra careful and responsible with other peoples' money.
Prudence does not always mean success in business. Sometimes risks are required. Accountants are often hampered when they try to run their own business because they are too cautious to take the necessary risks.
Why it is best for your business to hire a chartered accountant is precisely because he may be relied upon to be prudent. Professional advice may be expensive, but if it saves a client' reckless or ignorant actions it may be less costly than it would be not to have professional advice.
Chartered accountants institutes started in Scotland about a hundred years ago. They were started to protect professional standards and ethics, and still do that in the countries where they have been instituted. Members have first completed academic degrees, before passing through the rigorous professional requirements of their professional institute. They will also have completed some time working in the lower echelons of a professional firm, learning at the coal face of accounting.
Acceptance is usually dependent on passing board examinations. These are set to high standards for good reasons. Any sensible professions will want maintain high professional standards in order to protect the standards and incomes of people already in the profession.
Even after a person has been accepted as a member of a chartered accountants' institute strict rules require him up to scratch, he is required to keep abreast of developments and deliver excellent services to his clients. Failure or negligence in any area may lad to disbarment from the profession with consequent loss of earnings.
In addition to learning the intricacies of accounting systems and procedures chartered accountants have the lesson of prudence instilled in them. That means that they tend to be ultra careful and responsible with other peoples' money.
Prudence does not always mean success in business. Sometimes risks are required. Accountants are often hampered when they try to run their own business because they are too cautious to take the necessary risks.
Why it is best for your business to hire a chartered accountant is precisely because he may be relied upon to be prudent. Professional advice may be expensive, but if it saves a client' reckless or ignorant actions it may be less costly than it would be not to have professional advice.
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