Does your practice get its own accounts checked/certified by another accountant?
Being mentioned in our office and we just wondered what others were doing.
Replies (14)
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Daft
What?
And give details of all your clients, your charges, etc to a rival? What a stupid idea.
Absolutely not
And yet, I can see there might be some benefit if the practice named in my continuity agreement was involved.
-- Kind regards Andy
physician
heal thyself springs to mind..?
Absolutely no benefit whatsoever unless specific circumstances a la Andy...indeed may raise an eyebrow at HMRC if you're getting another firm to certify your own accounts...not exactly a vote of confidence...?
Caveat ...we used to have our accounts audited (by a firm in another City) before they raised the threshold....would be a nice problem to have but can't see it in the present climate !
As I said .......
Who mentioned giving out details of client list or charge out rates? Plus, we also know several accountants who are not local and who are not rivals. Thanks for your positive feedback though!
Posted by mark1975 on Thu, 09/09/2010 - 13:25
Well no accountant is going to certify your accounts without seeing your sales invoices.
Daft?
As they say it's completely daft, except that those who operate under a LTD banner presumably have their accounts audited.
"record"
I could easily provide a detailed record of our income without prividing names or charge out rates, the same with WIP.
Posted by mark1975 on Thu, 09/09/2010 - 15:52
And no accountant is going to sign off a set of accounts without seeing the prime records from which your record is prepared.
What about mortagages
A non qualified practioner may find it easier to obtain a mortgage if their accounts were signed off by a CCAB member firm.
Oh no
please don't start the qualified/unqualified debate...!...good point though particularly in these troubled times and as "self certs" thankfully seem to be a thing of the past...