Would you use an unqualified Dentist?Posted 2015 by admin
Would you use an unqualified Dentist, Doctor or Solicitor? Would you let a self-taught dentist extract your teeth; an amateur doctor operate on you; or an unqualified solicitor represent you in a big case that could cost you your house?
Of course you wouldn’t – So why would you use an unqualified accountant?
What you may not realise is that unlike Dentist, Doctor or Solicitor, the term Accountant is unregulated!
That’s right, all you need is a sign above your door “Accountant” some business cards and away you go into the unsuspecting public.
Chartered Accountants must study for many years and take many exams to prove their technical knowledge. We are regulated by our governing bodies such as the ICAEW or ACCA so that in the event of a complaint the client knows that there is a regulatory body that can censure the accountant. All of our work is subject to Professional Indemnity Insurance that will offer financial redress and we are required to undertake regular CPD.
Unfortunately, that is not always the case for unregulated firms and there will be many “accountants” (I use the term loosely) practicing with very little (if any) training, qualifications or insurance just working on a fingers-crossed basis. Sure there will be some who have may have some letters after their names to present a veneer of respectability but in many cases these can be obtained for not much more than a nominal fee from the internet in pretty much the same way that you can download a degree from a fake University.
Next time you deal with a firm of accountants look closely. Don’t be fooled by grand sounding names and logos. If you want best advice only ever use a Chartered Accountant and if it doesn’t say Chartered on their paperwork they are not Chartered.
You have been warned!