Hi I don't know any accountants where I live and I know a friend who owns an accountant firm in a different city. Is it ok to use an accountant who is
a) a friend
b) who lives in a different town?
Thanks
Hi I don't know any accountants where I live and I know a friend who owns an accountant firm in a different city. Is it ok to use an accountant who is
a) a friend
b) who lives in a different town?
Thanks
Involuntary autocorrect in operation on mobile device. Apologies in advance.
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Yes to both, but I would avoid (a) where possible. You are giving them access to your financial life, and if things go sour somewhere...........
Gavin / xpd / FastRaccoon
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Yes what was I thinking lol
Involuntary autocorrect in operation on mobile device. Apologies in advance.
What sort friend? The type of relationship and the level of commitment is important becauseyou may have to forgo friendship for the sake of your business.
What sort of experience do you have working together? No experience then no trusting with your finances. A lot of experience will have exposed you to your friend's modus operandi (work habits and behaviour).
What sort of overlap is there between your shared friendships? The greater the overlap then the greater the assurance that you are likely to stay friends BUT the greater the likelihood that your confidential information will be revealed, inadvertently or by design.
i think i have my answer guys, thanks
Involuntary autocorrect in operation on mobile device. Apologies in advance.
280.01
A member in public practice shall determine when providing any professional service whether there are threats to
compliance with the fundamental principle of objectivity resulting from having interests in, or relationships with, a client or
its directors, officers or employees. For example, a familiarity threat to objectivity may be created from a family or close
personal or business relationship.
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Sometimes I just sit and think. Other times I just sit.
My stepmum is my accountant, and lives at the other end of the North Island. No issues so far (over 20 years).
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