There are a lot of things that people need to consider before hiring an accountant or an accounting firm in UAE.
You must have all your facts cleared so that you may not end up working with someone who is not good enough for you or your company.
So here are some of the questions that you should ask yourself before hiring accounting or bookkeeping firms in the UAE.
Who will work directly with your company?
When you go to an accounting firm, you must get an idea about how people are working for the firm and how the accountant will work for your company. Both of these are two different things but work side by side. So, when you pay a visit to any firm for hiring an accountant, you must ask the firm for identifying the partners and the higher authorities and also the biographies of the people that will be handling your work. This will help you in perceiving whether the accountant that will work for you is up to the mark or not. If you do not find him good enough, you can switch to some other firm.
How can an accountant add more value to your company?
All the businessmen keep on striving to become better and make their company even better. This is why the businessmen are very keen about the person who will provide them with his services. So, when you go out for hiring an accountant you must ask the firm about their expertise. Also, the firm must be able to distinguish itself from other accounting firms in the UAE. this will help you in getting an idea about the specialities of the firm.
The money you spend on the accounting firm should help your company in gaining a better position.
What fee structure should you offer?
When you take accounting services of someone, you should be able to pay them back finely. So, before hiring someone, you should ask the accounting firm what they charge their clients and how much do they usually take. Before taking the services of an accounting firm, you better negotiate their charges properly to avoid any inconveniences in the future.
Are there any major clients the firm has lost?
This is a very major question. If the firm you are going to take services from is good enough to provide its services and satisfy its clients or not. If not, what were the major reasons behind the loss of potent clients? All these questions will help you observe the future outcomes and process them for issue resolving in the future.
How does the firm maintain its continuity?
Ask the firm about its turnover in the 3 years. If you are handing over your precious financial system to the hands of someone else, they must be trustworthy.
How much time has the firm been in the business?
Is the firm you want to take services from is new in the business or has been there for quite a long time? These questions matter because it helps you gain an idea about the quality of the work you can expect from the company.
Have you gone to peer-review?
To know whether the firm is reliable or not, you should check the peer-review. The firms who are licensed must be peer-reviewed for once every three years. You can also go and check the website of the state society for checking whether the firm is registered or not.
Is the firm large or medium?
If a firm has more than or at least 5 CPAs, it would be sufficient for providing the private company with its accounting services.
What are the specialities of your firm?
Different firms and different specialities. Some work for government companies while some work for small organizations.
When can I have a meeting with you?
When you meet a firm and the people working in it, you get introduced by their working style and professionalism. So, before taking the accounting and bookkeeping services, go to the firm in person and have a meeting with the person for about 20 to 30 minutes. This will clear your mind about what you want and what the firm serves.
Accounting and bookkeeping services play a huge role in the development of an effective business system. If the company’s financial structure is weak, it would not be able to become better because
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