Accountants are all the same, aren't they?

It is a common presumption that all accountants are the same. Nothing could be further from the truth! Just as in all walks of life you have the good, the bad and the down right ugly! We explain here who can call themselves "accountants".

Alarmingly the word accountant is not a protected term in the UK. This means that anybody can call themselves an accountant! Or for that matter a tax adviser or business consultant! The result is that many of the businesses that call themselves accountants are being run by people without any professional accountancy qualification. What is worse, often many of these firms and individuals are not regulated. That's right, you could open up tomorrow as an accountant with no training, qualification or even professional indemnity insurance! I am sure if you were buying a house you would want a qualified lawyer to handle your affairs, or similarly if you needed an operation you would want a qualified doctor to carry out the procedure. So make sure that you get a qualified accountant to look after your tax and business affairs.

The directors of Harries Watkins & Jones are both members of the ‘Institute of Chartered Accountants in England and Wales' and also the ‘Association of Chartered Certified Accountants'. This means that they:

Passed professional exams
Have undertaken supervised training
Have to continue to keep up to date with changes in tax and accountancy
Are subjected to monitoring and quality control
Have strict professional rules and ethics that must be adhered to

When choosing an accountant ask them what qualifications they hold.