How to Change Accountants?

How to Change Accountants?

If you are looking to change accountants, there may be a number of reasons why you have come to this decision. Whatever the reason, the decision to change accountants is never an easy one.

This is because you may have invested years into the relationship with your existing accountant, and the “financial information” that has been shared.

The problem is, if you delay your decision based on these reasons, it may just drag out your average results and be worse for you in the end.

What should your accountant focus on?

Any accountant should be focused on using their skill set to maximize the value you receive from your business. They can do this in a number of ways including:

1. Setting up tax effective and protective structures to reduce your Income tax bill.

2. Provide you with useful insight into your numbers so you know where to focus your business efforts.

3. Guiding you through the different software available (including cloud accounting) and recommending solutions that will save you time and money.

4. Providing you with a peace of mind and sounding advice.

In fact, comparing accountants is like comparing apples to oranges. When you are looking to change accountants, questions that you must ask them are:

1. How does the accountant work with you and for you: face to face, virtual?

2. What technology does the accountant use?

3. What are their qualifications and professional associations?

4. Does the accountant charge by the hour or by the value that they provide?

5. Do you know the price you will be charged before, or after the result is achieved?

6. What experience does the accountant have is it in your industry?

7. What is the overall focus of the work the accountant will be doing for you?

What are the steps to change accountants?

1. Find a new accountant:
You will need to find an alternative accountant. Be sure you do your research in this step, given the time, dollars and emotional investment in the next relationship. Ask the right questions, and go with your gut.

2. Let your previous accountant know:
It is always best to make contact with your existing accountant informing them of your change. This can be uncomfortable ending a relationship, but it is always best coming from the client, rather than the new accountant. A good way to bring up the subject is to let them know that your needs have changed at your stage in business, and you found another accountant.

3.Your new accountant will write to your previous accountant:
Once you have given the green light, it is a professional courtesy (stated in the Code of Ethical Principles and Rules of Conduct of the CPA Ontario ) to send an “ethical clearance letter” to your previous accountant. Your previous accountant should promptly respond to the letter, and forward any requested documentation to the new accountant.

It is worth noting that this reply and forwarding of information is a stated practice by CPA Ontario.

4. Why choose us?
Because we really care about our clients.(Read the google reviews). So you can sleep sound at night, knowing that your business has a nerd (sorry, I meant accountant) that will be reviewing your business and provide sound advice on how to improve your situation utilizing the latest cloud accounting solutions and apps. We specialize in a smooth transition from your prior accountant. We work 100% virtually, so we service clients all over Canada.

5. I want to know more, what’s next?
The next step would be to book your 15 minutes complimentary profit enhancement consultation, where we can see how we can add value to your business. To do so, click here.

Would you like to know more?

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