When choosing an Accounting Firm for your Business

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Questions to ask when choosing an Accounting Firm for your Business





116 due diligence questions.


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Top 10 questions

  1. Why should you hire them as your accounting firm?
  2. Does the accountant speak your language (do you communicate on the same level)?
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Their background

  1. How long have they been in business?
  2. What differentiates them from other accountants?
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Pricing, fees, billing and contract

  1. Will they provide an itemized invoice when billing?
  2. How do they calculate their fees?
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Scope of services

  1. Can they assist in arranging bank financing?
  2. Can they help with business planning?
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Contract

  1. Will there be a formal contract/agreement in place?
  2. Is it possible to object to items or add to the agreement so it better suits your needs?
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Communications

  1. Will there be a single point of contact?
  2. If you contact them with a question by email, what is their typical response time?
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Software and digital solutions

  1. Do they support your current, or require that you use a specific type of bookkeeping/accounting software?
  2. What accounting software are they the most familiar with?
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Scenarios and procedures

  1. You're being audited by the tax authorities. Can they represent you?
  2. You've lost some receipts. How will they handle that situation?
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Negotiations

  1. Will they be able to give a discount if you comit for a longer period than the standard contract suggests?
  2. Will they be able to give a discount if refer other business to them?
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Other questions

  1. Will they keep track of deadlines or is that up to you?
  2. How will they improve your business's bottom line?
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