Finding an accounting firm is like looking for a trusted business partner to run your organization. It is crucial to hire a firm that can independently manage your business finances. If you are looking for professionals to serve your business requirements, you must do extensive research and it is very much required, especially, if you want to hire a top accounting firm in Singapore to take care of the financial matters in your organization.
If you are looking for top accounting firms in Singapore, you can look at the following aspects
- The area of specialization
You will find a range of specialized services in an accounting firm that includes auditing, financial reporting, drafting of financial statements, tax planning, etc. Apart from accounting, the firm should be capable of offering major financial advice about your organization and should be able to anticipate things by preparing a year-long plan so that your organization can run smoothly.
tements, tax planning, etc. Apart from accounting, the firm should be capable of offering major financial advice about your organization and should be able to anticipate things by preparing a year-long plan so that your organization can run smoothly.
- Knowledge of taxation
A minor mistake in tax documentation can create a lot of problems in matters of finance. To get rid of expensive penalties and fines, you must hire a firm which has sound knowledge of taxation. Most importantly your accounting report should be done according to the guidelines prescribed by the IRCA, Inland Revenue Authority of Singapore. Your accounting firm should have expert knowledge on tax calculations and make sure that the statutory reporting is submitted on time.
- Professional Experience and Qualifications
It is a wise idea to check the business accreditation of the accounting firm. The firm should have legal permission to offer various accounting services. If you find accounts who are holding membership of any accounting organization will be a better choice. This is because they maintain strict membership criteria and thus the quality of service is resting assured with them. Additionally, the accountants should have precise knowledge of the companies act and regulations in the country.
- Experience and skills
The accounting firm you choose should have proven experience in working with other organizations. It should have an independent team with the best professionals. This would eventually help in materializing things in the best manner by way of better communication with the customers, affordable fee structure and focusing on realistic expectations.
- Consider the fee
The fee of an accounting firm depends on the nature of the services they offer and the type of industry you are working. They could offer an hourly rate or a fixed rate or some packaged services. What is important in this aspect is that the firm should provide a clear cut payment structure with no hidden cost.
- Seek recommendations
You can seek advice from your family members, relatives, friends for any such reference. Even reference given by other businesses can also help in this regard. The positive response gets from the clients always work and this led to the continuity of service of a firm. If the client is satisfied he or she will give you a referral.
- The size of the firm also matters
A team can work more efficiently rather than a single person while taking care of your accounts. A talented and experienced team will contribute to the progress of your organization.
- Scheduling an interview
A face to face conversation with the accounting firm will help you to know them better. You will share your business requirements and the way you want your finances to be taken care of by them.
Mismanagement of financial matters could cause your business to fail. You should always be careful about choosing the right business firm as the matters of finances are complex and a lot of knowledge and skills are required to solve them. A better organization of your finances will help to grow your business. So hiring a qualified accounting firm will increase the overall value of your business.