Deciding that it's time to find an accountant is a big step for any growing business, but you'll need to make sure that your financial information, one of the most important areas of your business, is in the right hands.
It is very likely that most people will turn to their search engines first when searching for a provider of accounting service in Canada. While it's perfectly fine to do a quick search for reviews when looking for the best pizzeria in your area, you may want to dig a little deeper when looking for someone to review your company's financial statements and file your tax documents.
Here we will discuss some tips for finding the right accountant or accounting firm for your business in Canada.
5 Main Things to Consider When Choosing an Accountant
1. Certification and Experience-
Ensure that your accountant is well enough trained to meet the expectations and requirements of today's accounting profession. While they have passed some rigorous courses and exams in the past, they must also take continuing education and professional development courses to remain accredited, licensed, and up-to-date with the changing rules and regulations of the accounting landscape.
All of this being said, nothing beats experience, so make sure your potential accountant has handled tax and accounting work in this area, because work experience is second to none!
2. Technology-
One of the most powerful features of today's technology is the ease of accessing real-time information no matter where you are, without sacrificing your business security. The more an accountant learns using cloud-based accounting and business management tools, the more they can help you automate your business processes and give you financial insight.
3. Business Growth-
It is crucial that your business receives all the support it needs and that you feel comfortable with the people who manage your accounts. Remember, your CPA's role is not limited to tax planning and preparation - they are your trusted business advisors. They can be a source of light when your business is facing doubts and can help you make the right financial decisions when you need guidance. Find an accountant who will handle your business affairs as well as his own.
4. Services-
As a business owner, time is money, and choosing the right CPA can give you more time, allowing you to focus on achieving your goals. Some accountants are willing to do bookkeeping and payroll, for example, in addition to the regular services they provide. Other accountants stick to only the basics, such as financial statements and tax returns. You will need to assess your strengths and weaknesses and where your pain points are so that you can free up your time to run and grow your business.
5. Security-
While the digital age has opened doors to faster and more convenient ways of dealing with information, it has also brought with it new risks and threats. Look for someone who is proactive in adopting regular security methods to keep their clients' information confidential. Do they use encryption software to handle your private information? What are your data integrity and security practices? It is critical that your CPA ensures that the security is "sealed" and has a very low risk of experiencing a security breach.