The 6 Most Important Questions to Ask Your Accountant

As a business owner, finding the right accountant for you is crucial for your financial success. An experienced and reliable accountant can provide valuable insights, help you navigate complex legislation, and optimise your financial strategies.

But how do you ensure you’re choosing the right professional for your business? In our last blog post, we discussed what the components of a “perfect” accountant consisted of. In this follow up blog, we’ll guide you through the seven most important questions to ask when interviewing an accountant for your business.

By asking these questions, you can make an informed decision and find an accountant who will be a trusted partner in your business journey.

1. Are you a qualified and registered Chartered Accountant in New Zealand?

Working with a qualified and registered Chartered Accountant ensures that your accountant has undergone rigorous training, adheres to professional standards, and stays updated with the latest legislation. This expertise will give you confidence in their ability to handle your financial affairs effectively and ethically.

2. How can you help me optimise my tax strategy?

Tax planning is a critical aspect of managing your business’s finances. A skilled accountant should be able to assess your tax obligations, identify potential deductions and credits, and develop a proactive tax strategy that minimises your tax liability while ensuring compliance with New Zealand’s tax laws.

3. What services do you offer beyond traditional accounting?

While traditional accounting services are essential, it’s valuable to work with an accountant who can offer additional services to support your business growth when and where appropriate. This may include cashflow forecasting, budgeting, financial analysis, and strategic planning. A proactive and forward-thinking accountant can become a trusted advisor, helping you make informed financial decisions.

4. How do you ensure compliance with New Zealand accounting and tax regulations?

Compliance is a top priority for any business owner. Your accountant should have a deep understanding of New Zealand’s accounting standards, tax laws, and reporting requirements. Ask about their processes and systems for ensuring compliance, as well as their approach to keeping you informed about any changes in regulations that may impact your business.

5. Can you provide references from existing clients?

One of the best ways to gauge an accountant’s capabilities and client satisfaction is by learning of their current clients’ experiences. You could request references or testimonials to gain insights into the accountant’s communication, responsiveness, expertise, and overall level of service. Generally you will also find testimonials and case studies on your chosen accountant’s website, or on a Google business listing. Positive feedback from other businesses in similar industries can instil confidence in your decision.

6. What is your communication and availability policy?

Open and effective communication is vital for a successful accountant-client relationship. Enquire about their preferred communication methods, response times, and availability. A proactive accountant should be responsive to your inquiries, provide regular updates, and be accessible when you need their guidance or support.

Choosing the right accountant for your business is a decision that shouldn’t be taken lightly. By asking these seven important questions, you can evaluate the expertise, industry knowledge, and services provided by potential accountants.

Remember, a qualified and experienced accountant like the Money Metrics team can become a trusted partner, helping you navigate the financial landscape of your business and driving its long-term success. Take the time to find the right fit, and you’ll reap the rewards of a strong financial foundation for your business.

Want to learn more about our services and how we can help your business growth? Get in touch.