Finding a good auditor does not always end up being a simple task. There actually are so many auditors that seem to appear every year; it is hard to know who to decide to put in charge of your finances.
This is how to choose an auditor
Pick some auditors from your local business directory or newspaper and interview each one over the phone. Choose one that you feel can help you in your current and future business goals.
Family and friends
Ask for recommendations from family and friends. It is unlikely that a friend or family member will recommend an auditor that they have had a bad experience with or who is not up to the job.
Ask other professionals
Your solicitor or bank manager may be able to recommend a suitable firm of auditor for you. Again, it is unlikely for a professional to recommend someone who is not that good.
Very popular today are social media platforms such as facebook and twitter. You could put a status update on your social media pages and request recommendations from your friends for auditors that they may have used.
You can also search for auditors in your particular city via social media platforms
Once you have a list of auditors, you will want to explore deeper before you shortlist and finally choose the auditors firm most suited to your business.You may want to consider these:
You may also want to consider taking out insurance to cover uncertainties such as tax investigations which can be very expensive. Obviously, in this case, the cost of the insurance needs to be added to the auditor’s fees to provide you with a good indication of overall costs.
Size of firm
Are you looking for a personal service, or would you prefer a larger firm where you may not feel that valued by your auditor? The advantage of a larger firm is that they may have various experts in the house – this is not something a smaller firm will be able to do for you.
Location of auditors firm
How important is the location of your auditor? Do you have a local business where you need to see your auditor every other week?
You will also want to ask your auditor about their client base. Some auditors may specialize in your particular business type – this auditor will have more experience in your specialized business needs than one who does not have any clients in your business niche.