The growing complexity in the global corporate world has made the role of chartered accountants very crucial. Today, businesses have to keep their books in order and comply with numerous laws and regulations set by domestic and international government bodies. Hiring a reliable CA firm can help you save plenty of time and resources that you can channel into other productive uses. Finding the right CA firm for your financial needs can be tricky. Here are some best practices to follow if you want to hire top CA firms in India.
Professional competence
The first and most essential thing to look for while hiring any CA firm is their professional competency. A good chartered accountancy firm must have a thorough understanding of the latest domestic and international tax regimes. Apart from the taxation laws, they should also have excellent knowledge about accountancy laws. They must have a good understanding of various industries that are linked to your business. All top-notch CA firms in India employ the most talented professionals who have a sound understanding of the accounting and taxation landscape.
Industry experience
One of the most important factors that you must consider before hiring a CA firm in India is their overall experience in the industry. Experienced CA firms have a better understanding of the laws and regulations that might affect different operations related to your business. The top CA firms in India have considerably higher industry experience that helps them deliver the best services. CA firms which have the required experience are also well-versed with the common challenges and
complications that might arise while filing for taxes and keeping the books in order. It helps them to easily overcome these challenges with ease.
ConfidentialityÂ
You must hire a reliable CA firm that is also trustworthy. Since you will be sharing confidential data with your accountant, the CA firm you are planning to hire should keep your information secure. You can conduct your research about a CA firm based on their clientele and their experience. You must refrain from hiring CA firms that have a history of data breaches. Data is the real deal in the contemporary digital world and you must do everything to keep your data secure.
Trade license and government approvals
It is always advisable to check for trade license and certifications that establishes the authenticity and competency of a CA firm. You should also check for the necessary government approvals that are needed for a CA firm to practice. Most governing bodies require CA firms to take a professional tax registration, a trade license, approval from the local municipality, etc.
Technological infrastructure
Another important thing to look for while hiring a CA firm is the level of technology they are equipped with. The top CA firms in India leverage the best technology to deliver services in real-time without compromising on any aspect of the work. Timing can be crucial in tax filing and having the best technological infrastructure will help you easily accommodate any last-minute changes.
