Top Red Flags to Watch Out for When Hiring an Accountant

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Hiring an accountant is an important step any business can undertake. Accounting professionals require specific skill set for managing all your financials and taxes. While looking for an accountant Hervey Bay, be careful because you are trusting someone with your money.

Here are some red flags to look out for to ensure you get the most trustworthy accountant.

They Insist On Sharing Profits Or They Don’t Have Transparent Fees

Most accountants charge hourly rates for work done or fixed monthly rates. Be on the lookout for an accountant Hervey Bay that insists on sharing your profits.

Also, the accountant should be transparent about their fees and inform you genuinely what they charge. If they charge on percentages then they should indicate that to you prior to starting the contract.

Encouraging Fraud

If you realize that the accountant encourages fraud, stay away. Right channels of getting returns back on taxes exist. A good accountant only uses legal means to get money back, but not fraudulent methods. If the accountant is encouraging fraud, it’s likely they’ll do the same with you.

When The Promises Made Are Too Good To Be True

An accountant should not promise you unattainable things such as excess returns on your taxes. If they make such promises then it means they intend to do something illegal without your knowledge to generate for you such money.

At the end of the day, they might launder money through your business. Therefore, be extra careful with such accountants.

Credentials and Certification

If an accountant Hervey Bay works for a firm, it should have a Certified Public Accountant (CPA). If they are working individually, they must have the right credentials and certifications to do accounting.

If the accountant does not seem to meet the minimum requirements or provides documents you find questionable, consider looking for another accountant.

Gaps On The Resume Might Be A Red Flag

A good accountant has a consistent career path with all employers indicated. If they keep hopping from one employer to another, it might be a sign of incompetency in their work. Make sure you ask why the accountant keeps changing jobs and wants to leave their current employment or why they left their previous job.

If They Speak Negatively Of Previous Employers

A good accountant Hervey Bay takes responsibility for their mistakes and avoids blaming others. A professional accountant is able to work as part of a team. A person who blames others may not be the best to add to your team.

Downward Movement

If you find that the accountant you intend to hire is on a downward trajectory career wise, chances are there is an issue with their previous job. Maybe they were unable to deliver the required services in their past employment.

When hiring chartered accountants located in Hervey Bay, look for consistency in a candidate’s resume and an upward trajectory. It is also important to find out an accountant’s motivation or reasons for applying to your job offer.

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