As tax season wraps up, every company big and small is finally able to take a step back and let out a long sigh of relief. Though some might have skated through this season seamlessly, providing all the necessary documentation and allowing their accountant to handle the rest, others faced serious challenges and barriers to getting everything demanded by the government sent in before the deadline.
During tax season, every accounting firm across the country receives desperate calls from companies who either placed their business financials in the wrong hands or tried to take on the IRS on their own.
As a financial institution, you may understand that you don’t have the luxury of “shopping around” for the right accountant or software during tax season, or any season for that matter. When dealing with large amounts of money, particularly other people’s money, a company has no room to make mistakes, and therefore, you need your accountant to deliver.
If you are a financial institution looking for someone to handle all your financial needs this year from tax planning to certified audits, there are three core principles you should be searching for.
Expertise
Everyone needs to start somewhere, right? Well if you are a financial institution dealing in outrageous amounts of money every year, you’re not going to want to be the guinea pig, and you shouldn’t have to be. When looking for an accounting firm to handle the needs of your financial institution, expertise should be a priority. You should feel rest assured that anyone providing the work you paid for has the experience and knowledge to not only complete the task, but to exceed your expectations in doing so.
Eye for Detail
The numbers involved in any accounting process can be tedious, however, when dealing with a financial institution, these numbers can be even more cumbersome. An eye for detail should be a quality required of any accountant or team who will be dealing in your books, training your staff, or conducting audits on your financial institution. You need to be able to trust that your accountant will be able to notice any aspect of your business that is even remotely out of compliance and provide flawless work.
Trust
Like any other field where money is involved, when looking for an accounting team for your financial institution, trust should be a non-negotiable. This is something that can only be achieved by your own intuition, and you should feel free to ask any questions you need to ensure that your institution’s financials are in good hands.
Choosing an accounting firm to handle your organization’s financials can be a tedious task with many factors involved. No matter what criteria you prioritize, these three qualities should be chief characters in your search. If you are looking for an accounting firm that offers years of expertise, tedious attention to detail, and dedication to earn your trust, contact us today to discuss your financial institution’s accounting needs.