Here’s a scary fact: there is no legal obligation for an accountant to hold a relevant professional qualification. Shocking, isn’t it? Would you knowingly trust your personal or business tax and accounting to someone who isn’t formally trained to do so?

A survey by AAT (The Association of Accounting Technicians) found that a third of the accountancy sector is unregulated, with a high percentage of complaints to HMRC about unregulated advisors. The survey found that 59% of people who had used an accountant or tax advisor were unaware that no professional or formal qualifications were required.

Working with an unregulated accountant is a huge risk. There’s potential to miss deadlines and opportunities, to make mistakes and use outdated methods. Plus … poor accountancy practice can attract HMRC’s attention. The type of qualification an accountant holds matters. It affects the type of work they can complete for you and their knowledge of current practices.

At Spicer & Co, we believe being a Chartered Accountant offers the best knowledge and practical experience to clients, both individuals and businesses.

Reasons to choose a Chartered Accountant:

1. Professional Qualification and Expertise: Chartered accountants undergo rigorous training and exams set by professional bodies like ICAEW (Institute of Chartered Accountants in England and Wales). This ensures they have deep knowledge and expertise in accounting principles and practices.
2. Regulatory Compliance: They keep abreast of changing regulations and compliance requirements, helping clients to stay fully compliant. This involves tax laws, financial reporting standards and other regulatory requirements.
3. Trust: Chartered Accountants adhere to strict ethical standards and codes of conduct, promoting integrity and trustworthiness in their services.
4. Strategic Business Advice: Beyond numbers, they are best placed to provide valuable strategic advice on tax and business planning, financial management and growth strategies. Their broad understanding of business operations informs this tailored guidance.
5. Audit and Assurance Services: Chartered Accountants are authorised to conduct audits and provide assurance services. This is crucial for businesses requiring independent verification of financial statements.
6. Continual Professional Development: They are committed to ongoing professional development. This ensures they stay updated with industry trends, new regulations, and best practices.
7. Ongoing Reassurance. To use the term ‘chartered’, an accountant must pass a series of rigorous exams and complete a minimum of three years of relevant work experience. Chartered Accountants must have a practising certificate and professional indemnity insurance. With a Chartered Accountant, you’re in safe hands!

“Being chartered offers our clients the perfect blend of current knowledge, informed insights and tailored advice for the future,” says Suzanne Spicer of Spicer & Co Chartered Accountants in Dunstable. “Whether we’re working with individuals or limited companies, we’re proud of the standard of service and expertise our clients receive. I’m pleased to say all our accountants are either qualified or training to be qualified.”

Suzanne is a member of the ICAEW Practice Committee (IPC) which aims to:

• influence ICAEW policy on issues affecting practitioners by bringing fresh ideas, challenging positions and sharing insights and opinions of members in practice, and
• actively scan the horizon to ensure that members in practice are informed of emerging trends, threats and opportunities to ensure they are prepared to meet these head on.

With the Spicer & Co team you are definitely in safe, fully informed hands.

Are you worried about how your tax and accounts are managed?

Would you like your accountant to be more proactive?

Talk to the friendly team at Spicer & Co Chartered Accountants. Let’s have a jargon-free discussion without obligation. Explore a different way of working.