4 Questions to Ask an Accounting Firm before Hiring Them


Choosing an accounting firm over other options is a good thing. You can count on them to do the job well. They have great employees working for them. They have also registered as a business entity. Therefore, you won’t be at risk of fraud. There are a lot of options available though. Screening them could be such a huge challenge. There are important questions that you can ask before you decide which of them you will hire to do the job.

  1. How old is the company? You need to ask this question because it tells you how much they are trusted by other people. They won’t last long in the industry if they are not trusted by their clients. However, it also does not mean that you have to remove newer companies from the list right away. They might be a startup company with young but highly motivated professionals working for them.

  2. How many employees do they have? This is important in the sense that you need a firm that can partner you with not just one accountant, if you need more than one. For instance, if this accountant fails to do the job well, you can at least count on someone else to do the job. Furthermore, if you are running a huge business, one accountant won’t be enough. There should be people working on your cash flow analysis, tax related issues and budgeting.

  3. What will they do if there are errors? The moment you submit your documents to the government’s tax bureau, you will be responsible for these documents. You will then be asked if the documents are accurate. If not, then you will be fined. Since you have partnered with an accounting firm to do the job, then they must also be held accountable for the mistakes. They must offer to do the job again for free until the documents become error-free.

  4. How much are the rates for various services? Obviously, this is a question you should not forget. Some firms offer a package deal. This is where you can get all accounting services over a longer period of time at a discounted rate. As a business owner, you have a lot of financial issues to take care of. You don’t want to splurge just for accounting services. It does not mean you have to settle for anything less though. After all, your company’s finances are being talked about. Therefore, you can’t afford to go wrong.

You have to be ready with these questions so it will be easier for you to narrow the choices down. You can check out accountants in central London working for high quality firms and trust them to do the job for you.


Image via freedigitalphotos.net (etaphop photo)