Фото: How to control the accountant?

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How to control the accountant?

Reading time: 3 min.

Accounting is an integral part of any business. Not only the company's financial well-being depends on its correct management, but also its reputation, as well as possible fines and sanctions from regulatory authorities. That is why monitoring the work of an accountant is an extremely important task for a business owner.

In what cases is it important to control the accountant?

Control over the accountant's work is recommended to be established in the following cases:

  1. You are running a new business. In this case, it is important to make sure that the accountant has set up the accounting correctly from the beginning, because correcting mistakes made in the early stages can be difficult and expensive.
  2. You do not have an accounting education. If you do not have knowledge in the field of accounting, it will be difficult for you to independently assess the correctness of the accountant's work.
  3. You have doubts about the accountant's competence or integrity. If you have any doubts about the qualifications or integrity of an accountant, it is important to take immediate steps to verify their work.
  4. You want to optimize your accounting costs. Monitoring the accountant's work can help you identify inefficient costs and optimize the accounting process.

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The main risks in the absence of accountant control

Lack of control over the accountant's work can lead to serious negative consequences for your business. Here are some of the main risks you may face:

  1. Financial losses:
  • Improper recordkeeping can lead to errors in the calculation of taxes, which can lead to significant fines and penalties.
  • Loss of funds can occur due to fraud or theft by the accountant.
  • Inefficient use of funds can prevent your business from achieving its goals.
  1. Fines and sanctions:
  • Regulatory bodies can impose fines on your company for violating tax laws.
  1. Reputational losses:
  • Accounting errors can cause your partners and investors to lose confidence in your business.
  • Negative media coverage can seriously damage your reputation.
  1. Criminal liability:
  • In some cases, errors in accounting can have the characteristics of a criminal offense.
  • You may be held criminally liable if it is proven that you were aware of the breach but did not take steps to correct it.
  1. Impossibility of obtaining loans:
  • Banks and other financial institutions may refuse you a loan if they have doubts about your financial stability.
  • Investors may not be interested in investing in your business if they do not have confidence in its financial transparency.
  1. Loss of control over business:
  • If you don't keep track of your bookkeeping, you may not know how much money you have, where it's going, or how to use it. This can cause you to lose control of your business and be forced to sell or close it.

Consult about the service

Control over the accountant's work is not a one-time event, but an ongoing process. It is important to review its performance regularly to ensure that it meets your expectations and legal requirements.

Outsourcing: a reliable way to control the accountant

Do you want to be sure that your accounting records are kept correctly, but do not have the time or knowledge to control them? Contact our company "Prykhodko and Partners" and we will offer you the service of an accountant or chief accountant on outsourcing with a controlling function.

  • We will take care of your accounting: from primary documents to tax returns.
  • We will establish a clear system of control: we will regularly check the accountant's work to ensure that it meets your expectations and the requirements of the law.
  • We will inform you about all the important points: you will always know what is happening with your finances.

Contact us and we will help you establish effective control over the work of your accountant and ensure the accuracy and reliability of your accounting.

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