Why choose a Chartered Accountant?
When looking for an accountant, you will come across ones who are chartered and those who aren’t, so why should you choose a chartered accountant? When comparing the different services and fees on offer, you may be inclined to think that as long as they do your accounts, does it really matter if they are chartered or not?
When you work with an experienced and professional Chartered Accountant you will have the peace of mind that you are working with someone who has extensive business and financial experience in a variety of sectors and financial statuses.
Whether your business or personal financial situation is complicated, or your understanding of financial systems and processes is limited, then finding a Chartered Accountant that you trust and work alongside is crucial.
Whether you are a start-up business, you have been in operation for years, are a small or large business then a Chartered Accountant will advise you on the financial management of your business, help you with business plans for growth and profitability. If you are a start-up business they can help you form your financial strategy when you’re creating your business plans, as well as supporting you with budget planning and analysis to set you up from day one.
Working with and alongside a chartered accountant who knows and understands your business will give you peace of mind and the assurance that your financial matters and processes are being handled competently and efficiently.
What’s the difference between an Accountant and a Chartered Accountant?
Anyone can set up an accountancy practice, regardless of their experience and qualifications. As a result, you could be trusting your finances with an accountant who just doesn’t have the experience to handle your affairs professionally and crucially, doesn’t have to abide by standards of conduct or comply with a code of ethics if something goes wrong.
It’s important to choose a professional you can trust when it comes to your accounting and taxation, reassured that they have relevant experience, and qualifications, and are regulated to ensure everything is above board.
You wouldn’t choose a doctor for medical advice who wasn’t qualified, who hadn’t kept up to date with training and who wasn’t regulated, would you?
So why would you choose an accountant who isn’t Chartered?
Chartered Accountants are regulated, qualified and must keep abreast of all current legislation and standards.
1. Regulation
Chartered accountants are regulated by the Institute of Chartered Accountants in Ireland (CAI), meaning they are bound by a code of ethics and professional standards:-
They must be qualified and keep up to date with continued professional development.
Their professional practice, compliance, policies and procedures will all be reviewed and monitored regularly.
All advice they provide to clients has to meet the highest professional levels, appropriate laws, regulation and standards.
All members of the CAI ( Chartered Accountants Ireland) comply with their Code of Ethics, to maintain high ethical and professional standards.
Chartered accountants must also follow principles and standards of behaviour on professional conduct relating to tax.
CAI Chartered Accountants are expected to meet their broader responsibilities to society as well as providing high quality independent advice and services to clients.
Qualifying as an CAI Chartered Accountant doesn’t happen overnight. Extensive formal training – with CAI-approved firms and training providers – is necessary to develop technical knowledge and practical skills, which must be kept relevant and up-to date with continuing professional education.
Chartered accountants are bound by a code of ethics to uphold a set of professional principles, endeavouring to always put their clients’ interests above their own.
Practising as a chartered accountant means demonstrating a commitment to maintaining and developing professional standards, so clients know that their financial interests are always put first.
2. Experience
In order to qualify as chartered, an accountant will have to have proved experience of a breadth of clients across multiple sectors. This depth of knowledge allows them to specialise in particular industries, meaning they can provide you with invaluable technical knowledge as part of their service.
3. Qualifications
Qualifying as an CAI Chartered Accountant is demanding. Accountants must undergo extensive training via CAI -approved firms and training providers. This comprehensive training provides technical knowledge and practical skills all of which must be demonstrably maintained. All members of the CAI comply with their Code of Ethics, to maintain high ethical and professional standards.
4. They can provide a greater range of services should you need them
At first you may just need an accountant to help you with your self assessment tax return. In time, you may need to consult about business planning, correct company structure or advice on applying for funding for your business or need help providing self employed evidence for a mortgage application. An experienced and trusted accountant should be relied upon to provide professional business services and a discrete personal service, helping you to grow whilst managing your risk.
CAI Chartered Accountants offer a broad range of professional advice and services related to accountancy, audit, insolvency, investment business, probate and tax and for individuals, businesses and other organisations such as charities and Trusts.
5. Conduct and performance in the event of a complaint
Choosing to go with an unchartered accountant may mean you are left high and dry should you have any cause for concern over the way they have handled your tax affairs or issues with their conduct or standards of service.
With a chartered accountant, you can be assured they are regularly monitored on their conduct and performance by CAI. Should something go wrong with a chartered accountant, all CAI Chartered Accountants in public practice are required to have professional indemnity insurance cover.
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What our clients say
“Corrigan’s was the first firm of Chartered Accountants that I worked with when I joined the cultural sector back in 2000. As I moved jobs and worked with larger firms, I missed the support and working relationship that you get from Corrigan’s.
Always at the end of the phone or email, offering practical support and guidance, Corrigan’s offer more than accountancy services. The working relationship is much more one of trusted friend, and the reason I would have no hesitation in recommending them for your business.”
Fiona Bell, CEO
Thrive Audience Development
“I have been in partnership in five businesses, all of which Celine has helped and guided me through with her expertise and knowledge. She has a wonderful quality of being able to see through the maze and bring clarity to complex issues. Her kindness and thoughtfulness shine through and is a good listener.
All of the staff at Corrigan’s are extremely polite and well trained another testament to Celine's work ethic and training.”
David Ryles
“Corrigan CA Ltd have been an excellent support for The Present Tree as it grows and expands. The whole team are very approachable, give super advice and answer questions quickly and clearly. I would highly recommend Corrigan as chartered accountants.”
Catherine Cunningham
The Present Tree