Irrespective of the kind of enterprise that one is running, it is imperative to have a capable chartered accountancy (CA) firm on board. A CA firm offers a lot more apart from helping out with company incorporation services, preparing PnL (profit and loss) account and creating the balance sheet. A CA firm would also be a strategic business partner for an enterprise and could play a key role in the latter’s growth.
Therefore hiring a suitable Chartered Accounting firm becomes vital. One can consider hiring a CA firm through the following channels:
1. Searching on Google- You can enter relevant keywords such as ‘top CA firm’ or ‘best CA firm’ to get a list of top CA firms in India. You could also use city based key phrases such as best CA firm Mumbai or best CA firm Delhi etc to search for CA firms from your city.
2. Network- You could check with people in your professional or personal net.
1. Experience:
One of the qualities that a company should look for is the experience of the firm and its history. While experience does not guarantee the quality, a firm which has been in existence for a longer period is an indirect testament to their quality. Company registration services through such an experienced firm will not ensure the quality of services but the company and its owner would also receive the benefit of their experience. A company can find such firms through the local ICAI chapter in the city or even through conversation with other businesses in the city.
2. Number of Partners:
The growing complexity of the business environment and the increasing number of laws mean that it is difficult for a single Chartered Accountant to keep pace with all such laws. In today’s fast-paced world, a business would prefer a firm wherein all matters related to various laws could be handled from a single office. A firm with multiple partners can ensure such services. Many CA firms have a policy wherein each partner is in charge or lead of a single area of practice or law. This ensures a high level of quality in such areas and high focus for the clients.
3. Areas of Practice:
Apart from the various laws, a business involves many activities that require professional attention. Activities such as attracting project finance, project reports, and even investor meetings have now become part of the overall service that is required from a professional. A CA firm that can provide such services in addition to the traditional area of practice would enable the company to keep the compliance and development part of the company at the same firm. A company or its owner could take guidance from banks or financial institutions that often have good relationships with many professionals. Selection of such recommended firms would on most occasions ensure quality.
4. Collaborations:
Thanks to the deeply connected world that we live in, a business can scale up exponentially across multiple regions. This means that one would not only have to work with employees in different offices but there is also a possibility of working with teams across different time zones. Therefore, if your CA firm has existing collaborations across multiple regions, it turns out to be helpful. This would ensure that the company doesn’t have to hire another firm and can continue with its professional relationship with the existing firm. A CA firm with multiple branches in the country or the world may also be preferred.
5. Testimonials:
Testimonials given by clients is an excellent parameter to shortlist a suitable service provider. While browsing through the websites of the CA firms which one wishes to shortlist, one can also check out testimonials on their sites given by their clients. Video testimonials on Youtube or even Google Reviews would be of immense help.
It is also recommended that one creates a checklist of important factors to consider while hiring a CA firm. This would be useful to shortlist an appropriate CA firm from a pool of multiple options.
