Hiring Chartered Accountant Firms in Dubai: What Businesses Need to Know
With the increasing number of companies and stringent regulatory requirements, the need for hiring the best Chartered accountant firms has become crucial in the UAE. The businesses are looking at service providers who are a one-stop shop for all their requirements such as accounting, auditing and VAT filing. A lot of factors including experience, cost, qualifications, industry specialisation, and reputed clients are the top criteria that the businesses are considering while hiring a Chartered Accountant firm in Dubai or the UAE.
Following are some of the factors all businesses need to consider while hiring a Chartered Accountant firm in the UAE:
1. Industry Specialisation
The Chartered Accountant firms in the UAE are often specialised in different sets of services like Accounting, Auditing, and VAT. The companies need to have a clear idea of what services they require specialised assistance for or they require a one-stop-shop for all the services. The businesses also need to check whether the Chartered Accountant firm has proven experience in the industry their clients are conducting businesses in. The Accounting tasks in a trading company may be different from those in the logistics or hospitality sectors. The business owner should obtain clarity on what the CA firm offers.
2. Ability to Offer Financial Advice
The best Chartered Accountants in Dubai will guide their clients through every step of accounting or auditing processes. The recommendations and guidance are indispensable to the growth and financial health of the company. Hence it is recommended to know beforehand whether they are able to provide guidance throughout, and not just at the initial stage. Chartered Accountant firms that ignore giving the right attention to the clients will hurt the company’s productivity.
3. Level of Service
The business owners should have a clear understanding of the services provided by the Chartered Accountant firm in the UAE. In the case of accounting services, companies can opt for full-time or part-time service providers. If a full set of the accounting process is required, it is recommended to go for full-time services.
4. Ready Availability
The best Chartered Accountant firms would keep in touch with their clients frequently. This is a good practice as the clients get to know how to solve the issues with their business and enhance their business plans. The companies need to choose an accounting firm that will be available whenever the business requires them with regard to solving business issues.
5. Good Rapport With Clients
The client and the Chartered Accountants need to be having a good personal rapport throughout their tenure of association. The lack of personal connection would do no good to the client even if he or she is hiring the best Chartered Accountant firm in the UAE. Good bonding with the accounting firm is a must for the business growth of the companies.
6. Audit Support
The audit process is one of the most crucial services that Chartered Accountant firms offer to businesses in the UAE. The external auditors provide an independent assessment of the company’s financial statements in accordance with the local and international regulations such as the IFRS. The best accounting firms are also a one-stop shop for all services including auditing services. The businesses need to ensure that the Chartered Accountant firm could efficiently execute the auditing process to comply with the regulations.
7. Good References
The companies in the UAE need to check whether the Chartered Accountant firm they are planning to hire is well experienced in the industry. This could be verified through the references of the previous clients. The clients who had a good experience with the services of the accounting firm would naturally refer them to others. Always choose the accounting firm with a good number of references.
Chartered Accountant Firms in Dubai, UAE
Hiring a Chartered Accountant firm is a critical decision for the companies in the UAE which might have a lasting impact on business growth. Factors including cost, experience, qualifications, industry experience and the number of satisfied clients determine the efficiency of such firms. Jitendra Chartered Accountants (JCA) is one of the most reputed accounting firms in Dubai, UAE with thousands of satisfied clients. JCA’s Chartered Accountants are highly qualified and have experience in providing accounting, auditing and VAT-related services to clients belonging to a variety of industries. JCA provides high-quality financial recommendations to the companies thereby helping them setting robust business goals. JCA is a one-stop shop for all the services and is committed to bolstering the financial growth of the companies by providing top-notch business solutions.