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Chartered Accountant Services
Looking for a chartered accountant in Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, the Gold Coast, Geelong, Cairns or Darwin?
If you own a corporation, are an investor, or self employed, we highly recommend that you hire a chartered accountant (“CA”). CAs are not bean counters. They provide valuable business and tax advice, helping you achieve your financial goals.
By reading this article, you can make a more informed decision on whether your business requires a Chartered Accountant, and more specifically, why hiring a Chartered Accountant in Toronto has added benefits.
Chartered Accountants – Years of Education
Becoming a CA is by no means an easy task. They spend years in school, must pass 3 qualifying examinations, and must have 30 months of practical experience, before they can obtain their CA designation.
With such rigorous educational requirements, Chartered Accountants have the knowledge to help you and your business.
Chartered Accountants – High Ethical Standards
Chartered Accountants must abide by a professional code of conduct. The code of conduct is very extensive and requires CAs to act ethically, maintain client confidentiality, be independent, and avoid situations involving a conflict of interest. It has been said that CAs have one of the most rigorous professional codes of conduct amongst the various professional bodies in Canada.
Where CAs fail to abide by the standards of the profession, they will likely be disciplined, and in some cases expelled from the profession altogether.
Non designated accountants may not belong to a professional body or have a code of conduct to abide by, which can be very worrisome for business owners. If your Accountant isn’t accountable to anyone besides himself, what assurances do you have that they will do the right thing?
Chartered Accountants – Tax Experts
Many accountants provide tax planning and tax preparation services to their clients. However, not every accountant is a tax expert. So what exactly is a tax expert and are CA’s tax experts? I’ll explain this below.
Firstly, tax experts have a great deal of knowledge, or expertise, in the area of taxation. There are different types of tax experts, such as: GST experts, Canadian Income Tax Experts, Estate Tax Experts, and so forth.
The Canadian Institute of Chartered Accountants (CICA) has the most rigorous and most comprehensive tax training program in Canada, know as the Canadian In Depth Tax Course. Many CAs have completed the CICA In Depth Tax Course and have practiced tax for many years, allowing them to hold themselves out as tax experts.
Before hiring a CA, you should find out whether he/she has completed the CICA In-Depth Tax Course and the type and years of tax experience they have. You want to ensure that you’re in fact hiring a CA that’s a tax expert.
Chartered Accountant – Fees
CAs are not always expensive. Many Chartered Accountants are pleased to provide their clients with a fixed fee, rather than bill by the hour. In addition, they will usually demonstrate that the value that you and your business derive from their services is far in excess of the fees that you pay them.
The Benefits of a Chartered Accountant
Prior to passing your accounts to an accountant, you want to make certain they are fully qualified and able to offer an accurate and reliable service for maintaining the business finances. Many different types of qualifications are available to the accountant. An accounting qualification is likely to indicate a particular specialisation or area that an accountant is working in.
If someone is looking to be qualified as a chartered accountant for instant it will be necessary to become a signed up member of the ICAEW (Institute of Chartered Accountants in England and Wales). It would be necessary to pass some very stringent training and examinations to receive this particular type of qualification. By being aware of the qualifications a particular accountant might hold, you are much more able to establish their likely qualities and ability to help in managing your accounts.
What Is a Chartered Accountant?
When you need help with an audit, getting your taxes done, or any general help with your business or finances, it’s best to know what all your options are. There are many people who offer business or professional services that are willing to help you, but they might not always be the most qualified for the job. In Canada, you would like to seek out a person who is a Chartered Accountant, or CA. Exactly what is a chartered accountant?
A chartered accountant is a particular designation given to individuals in the accounting field that shows that the holder of the title is qualified to work in public practice to provide tax advice, tax preparation and perform audits and offer advisory services. This is equivalent to the Certified Public Accountant, or CPA, in the United States. In Canada, CAs belong to the Canadian Institute of Chartered Accountants, or CICA.
In order to achieve this status, a person must possess an undergraduate degree. They must also have articling experience, and, depending on the province they are in, possibly additional education. All candidates everywhere in Canada must also pass the three day Uniform Evaluation, or UFE.
“They were at my side for more than 20 years, through good times and bad. Not only do they provide great accounting services, but I know I can count on them to give me sound and reasoned financial advice, the kind that lets me sleep well at night.”
– Mr Mark Kovalsky – Pimlico, London