Confidence through a systematic approach to accountancy

Advertisements use a multitude of key buzz words to attract customers one of the main purposes of which is to give the potential client confidence in the service or product they intend to purchase.

How do we as accountants in reality instil such confidence as distinct from just putting it down in an advertisement because it’s good for marketing?

Accountants are there to prepare your tax returns and tell you whether you made a profit or a loss and therefore advice if your business is financially viable or not and what changes you need to make it profitable. Also on a psychological level he/she is there to give you a certain peace of mind that you are compliant with your taxation responsibilities and numerous other statutory requirements such as to the Central Statistics Office and the Companies Registration Office.

In order to provide my clients with this level of confidence I find the underlying principal is the systematic approach we take in the practice to each client’s files. I know every client on a personal level and analysis what they need done and how to achieve it. After this every figure we prepare is fully backed up with detailed analysis prepared on a systematic basis. By doing this I can be confident in the figures we produce and so is the client. Our sets of accounts can be analysed the way you peel an onion. The outer layer is the overall figure but you can peel away to reveal the figures and breakdowns behind each number.

Over the last year I have had five revenue audits and in each one the auditors went away without a single euro more than the figures I had submitted to them. This is because each figure is simply explained and then behind each one there is a detailed analysis so that when the Revenue Officers come down I can prove my figures are correct and have a strong basis for countering any arguments they may come up with.

You should expect this from any professional you deal with and although it seems obvious it isn’t always in fact what people get.

(C) Frank McGivney BA(1st class) ACMA CGMA, 0469293891