The city of Toronto offers a wide array of chartered accountants. Any search on the Internet or quick-perusal of a telephone book will provide you with a lengthy list of individual chartered accountants and agencies for your perusal. There are several things to take into consideration before dialing though. First, you may want to know what, specifically, a chartered accountant will do for you. How did this person become qualified? What services will a chartered accountant offer? Why might you need a chartered accountant? Once you have discovered the answers to these questions, you need to know how to select your chartered accountant. Is one just as good as the next? With so many chartered accountants in Toronto, it is important that you know just how to select the one who will be right for you. You will need to discover how to determine what your needs are and which chartered accountant toronto will best meet those needs for you.
Canadian chartered accountants are trained professionals who work in one of the following specialty areas: public practice, industry, government, and education. Fewer than half of the chartered accountants work in public practice, so if this is what you are seeking, look carefully. You will likely find that only four of ten chartered accountants will fall into this category. In public practice, chartered accountants work with individuals and small businesses to help with financial planning, development of financial and administrative procedures and policies for business, tax information, audit support, and forensic investigations. These chartered accountants are sworn to protect the public interest, and are required by the ethical code of their profession to adhere to a very strict and high standard of professionalism. They can be certified to work in Canada or internationally based upon their educational experience. Canadian trained accountants must determine in the university that to pursue their certifications which require a combination of education, experience, and evaluation. In the university, they may gain experience and further training by become registered chartered accounting students. This gives them an opportunity for hands-on training, and ensures that they emerge from school with a high level of real-world competency and the ability to handle the practical daily job requirements with the degree of professionalism that the Chartered Accountants of Canada require of them. Upon completion of their education and experiential training, chartered accounting students are sent to take an extensive evaluation. This evaluation, known as the Uniform Evaluation, or UFE, takes the chartered accountant three days to complete and guarantees a high level of understanding of his or her profession. Once these three steps are achieved, the newly chartered Canadian accountant can pursue his career, and begin to directly serve you – the public.
So, how will you select the right chartered accountant for your local needs in Toronto? You can always search the Internet for recommendations. You are, of course, always encouraged to ask your friends or colleagues for information on their own chartered accountants. Several web sites exist to provide recommendations of current and former clients and reviews of the overall experience with and practices of particular providers and businesses. It is also highly recommended that you contact your list of potential chartered accountants and interview them directly. You will want to ask questions about their education and experience. For example, how did they perform in the university, and what continuing education have they received? You may want to ask how long they have been in practice and if they have ever faced any professional sanctions. Ask them why they believe you should choose their firm over the others. Make sure that they specialize in the areas which you need most – corporate finance, audit assurance, financial planning, tax support, sustainability, small business support, or even forensic evaluations. Ensure that your chartered accountant has a public accounting license and that you will know at all times which partner or associate will be working on your specific project. If you need specific services, or if you foresee a need for additional services, you should enquire as to the availability of such services. Do not forget to discuss billing and payment practices with your chartered accountant. Once you have narrowed your search to the most compatible chartered accounting firms or chartered accountants, you will want to explore with them the possibility of a long-term client relationship. Find out how long they have been in business and if they are frequently engaged in long-term client relationships. Professionals who can maintain a stable client list over several years tend to be more reliable and professional in general than others of their field. You may wish to ask your chartered accountants how you can reach them in an emergency, and make sure that you will be able to get service from them when you need it most, not necessarily when it is the most convenient for their employees. Armed with the knowledge of their industry, education and practice scopes, and educated about each individual accountant or accounting firm’s specialties and professionalism, you should have little trouble in choosing the chartered accountant to best serve you in Toronto.