What are the risks?
I met a new potential client yesterday who has a one man band limited company. The current accountant does everything, according to the potential client.
He had no accounts, no company documents, no cert of incorporation, no register, no articles, etc, even though his home is the registered office, and he assumes they are all with the accountant. He had never heard of dividend vouchers or Directors Loan account. He doesn't know whether he gets Directors remuneration. He just gets a call from the accountant saying he needs to spend some money!!!!!!
This is so different to our way of doing things so I explained that if he liked the current accountants way of doing things then he wouldn't be very happy with us, but he is keen to find an accountant more local to his home.
I haven't quoted yet because I haven't enough information, but I do wonder if I am wasting my time and the clients money, by insisting everything is done correctly. I meet clients like this quite often and the lack of proper records, documentation, etc. never seems to cause a problem, and some clients think we are being pedantic by insisting on them, so is it worth bothering about for the really small companies?
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