Choosing and Using an Accountant

3. The First Meeting

3.1 Arrange to meet at least three firms.

• You will learn what to look for.
• You will be better placed to negotiate fees.

3.2 Imagine you are interviewing someone for a job. You need to:

• Explain why you are starting your business and how fast it is expected to grow.
• Ask about the accountancy firm (see 5).
• Decide whether you can work well together.
• Get commitments to the fee level, time scales and standards of service that you require.

3.3 Look for an accountant who will be an asset to your business and will help you plan ahead for things like cashflow, business expansion and tax payments.

• Some accountants see their role as adding up the numbers at the end of the year. This is not accountancy - it is book-keeping.

3.4 The ideal accountant would be willing to sit down with you after completing your audit or accounts and spend an hour talking about how to improve your business.

• At that point, this outsider may know more about the inner workings of your business than anyone except you.
• This could be an hour of a professional's time that is worth paying generously for.