Can anyone that calls himself an Accountant, File Accounts for a Ltd Co.

[Once]

Please I need advice from a Chartered Accountant. We have just engaged the services of an Accountant who told me he is ACCA qualified. He has filed our accounts with Companies House and has submitted our Corporation Tax to HMR & Customs and Final Accounts for our bankers. I became suspicious if this man was truly an accountant as he was showing too much interest in the job of our book keeper, so I decided to check for his name on the ACCA website but he is not a member. Now we our concerned about all the accounts he has produced.

What I would like to know is whether anyone that calls himself an accountant can file our accounts with Companies House and submit our Corporation Tax to HMR & Customs and Final Accounts for our banks?

Many thanks

 

[Astaroth]

As far as I am aware, and certainly for the corporation tax and companies house aspect, anyone can file with the appropriate authority from the company and doesnt need any specialist qualifications to do so as long as you are in the SME world

 

[elaine@cheapaccounting]

What I would like to know is whether anyone that calls himself an accountant can file our accounts with Companies House and submit our Corporation Tax to HMR & Customs and Final Accounts for our banks?

Many thanks

Yes is the answer but if they are holding themselves out to be a member of one of the profession's institutes I would suggest that you report them. I know that ICAEW has a complaints process so I would assume that ACCA has as well.

 

[Neilh]

Hi

Further from what has been said, anyone can prepare and file the accounts for a limited company. Should the company have/require a statutory audit then this must be carried out by a registered auditor/audit firm.

The ultimate responsibility for the accounts and the tax return lies with the directors of the company and except for audit the only signature (signing off) required on statutory accounts is that of the board/director/s. Should there be an issue with the accounts or tax return, it would be the responsibility of the company - as such the company would be liable for any disciplinary action. Of course you would have recourse with your accountant but the company would bear the brunt!

In terms of qualification, I think it’s more important to find an accountant you can trust and feel comfortable with and one that can do the job with competence. Clearly you have justifiable issues with this accountant (which you may wish to raise with the ACCA) but unfortunately qualification alone doesn’t make my fellows and me good accountants.

Neil

 

[elaine@cheapaccounting]

In terms of qualification, I think it’s more important to find an accountant you can trust and feel comfortable with and one that can do the job with competence. Clearly you have justifiable issues with this accountant (which you may wish to raise with the ACCA) but unfortunately qualification alone doesn’t make my fellows and me good accountants.

Neil

Couldn't agree more and at least having a recognised qualification should provide some level of confidence in the ability of the accountant.

For example as a Chartered Accountant I need to comply with practice assurance, have a practising certificate, complete my continuing professional education etc.

 

[Basement_Studios_Ltd]

Agree with all the above...

But, may I just add;

Just because a non/partially or otherwise accountant does not belong for ICAEW or ACCA does not mean they do not do the same. From the 15th Dec all accountants will be governed in one form or another.

As a non qualified accountant, I still complete a CPD file, comply to the Practice Assurance standards and believe my small firm standards will match those of either the above institutes. In fact as Neil said, qualifications are no assurance for quality, I know of many chartered Accountants that would fail a practice assurance visit....by miles, I also know many that have 'created files' for the auditors...

I think its the same as has been said on this forum many times before, go off recommendations where you can.

i'm sure there are many that use for forum that can say some reassuring words about all of us wonderful accountants on the board - I know I've picked up 3-4 clients from here and I'm sure the others have too!

Thanks,


Rob.

 

[Once]

I'm getting a bit confused now, this is because as a student member of one of the Professional Accountancy Bodies, the warning in the guidance note is that if I'm self-employed I should only prepare account for the internal use of a business but not for a "Third Party" to see and that I must never mention the name of that Professional Body to my clients. This to me suggests that if I call myself Accountant and I'm not qualified then I cannot prepare accounts for a business if the accounts is for external use.

 

[Philip Hoyle]

I'm getting a bit confused now, this is because as a student member of one of the Professional Accountancy Bodies, the warning in the guidance note is that if I'm self-employed I should only prepare account for the internal use of a business but not for a "Third Party" to see and that I must never mention the name of that Professional Body to my clients. This to me suggests that if I call myself Accountant and I'm not qualified then I cannot prepare accounts for a business if the accounts is for external use.

They're just the rules of your professional body which, as a member/student, you have to abide by. If you aren't a member/student of a body, then you don't have those rules to comply with!!!

 

[Once]

What about the Banks will they also acept accounts that are not prepared by a qualified accountant?

 

[Neilh]

What about the Banks will they also acept accounts that are not prepared by a qualified accountant?

Banks (and other third parties) usually have their own requirements, and may vary them depending on why they need to see the accounts or the size of the business in question etc. Generally the high street banks recognise the CCAB bodies and the AAT. The IFA, AIA and ICSA also carry recognition with banks, but i'm not sure on the exact details.

Neil

 

[Once]

Many thank for all your contributions.

 

[Once]

Many thanks for all your contributions.

 

[streetslocal]

Im sure i read somewhere that if you filled accounts with companies house and your not an accountant then you leave youself wide open for an investigation?

 

[Kent Accountant]

Im sure i read somewhere that if you filled accounts with companies house and your not an accountant then you leave youself wide open for an investigation?

I guess the person who wrote it heard it from a bloke down the pub

Sorry streetslocal, not meant to be rude :redface:

In truth, HMRC do not know who filed the accounts at Companies House

 

[streetslocal]

I guess the person who wrote it heard it from a bloke down the pub

Sorry streetslocal, not meant to be rude :redface:

In truth, HMRC do not know who filed the accounts at Companies House

DOH,thats why i employed an accountant!!

I shall now review this!!

 

Couldn't agree more and at least having a recognised qualification should provide some level of confidence in the ability of the accountant.

And a Caymen Island Bank account.?

Earl