Here’s a riddle for you.
What’s the difference between a doctor, a solicitor and an accountant?
Stumped? The answer might shock you.
If you visit a doctor or a solicitor, you can be certain they’re properly qualified. They’ve passed rigorous exams, earned their licences, and are held to strict standards by professional bodies that regulate their work.
It is a legal offence to pretend to be a doctor or a solicitor if you don’t meet these requirements.
With accountants? Not so much.
In the UK, anyone can call themselves an accountant — even if they have no formal qualifications whatsoever. Unlike ‘doctor’ or ‘solicitor’, ‘accountant’ isn’t a legally protected term.
The same goes for ‘bookkeeper’ — a title that could mean anything from basic data entry to preparing financial reports and accounts. In fact, I know several bookkeepers who call themselves ‘accountants’ — which just goes to show how loose these labels really are.
So here’s the big question: Do you actually know whether your accountant is qualified?
I’m not saying you’ve been misled — cases of outright fraud are rare. But this ties into the point I made in my last article. Many business owners assume that because they have an accountant, their finances are in safe hands. They trust that everything is being handled to a professional standard.
But how can you be sure, when the title ‘accountant’ carries no legal weight, and does not guarantee any specific education, knowledge or skills?
You may not realise anything’s wrong until it’s too late, and your accounts are in a complete mess. It’s a risk.
When you work with Insight Associates, you can be sure.
Four members of our team are qualified with the Association of Chartered Certified Accountants (ACCA) — one of the UK’s leading professional accounting bodies.
The rest of our team work under their direct supervision, with some actively studying towards their own qualifications. Others, while not training for formal accreditation, are essential to delivering a fully rounded, full-service finance function.
As a result, we are an ACCA-regulated practice. This means we must prove that our team is properly trained, that we have the right levels of expertise and that we comply with crucial legislation, such as anti-money laundering regulations.
And if a client ever had a complaint, they would have formal recourse through the ACCA. (For the record, we’ve had zero complaints in 30+ years!) We also have professional indemnity insurance, providing you with additional security.
The bottom line?
When you work with Insight Associates, you’re not just getting an ‘accountant’ — you’re getting a properly qualified, highly regulated team that ensures your finances are in safe hands.
We’ll install all the financial systems and processes you need in your business to manage your finances to world-class standards, and to produce timely, accurate numbers. And we’ll work with you, as the founder or CEO of your business, to gain a clear understanding of your company’s financial picture – and make the best possible financial decisions for your future.
If you’d like to discuss how we can support your business, let’s have a chat.
Simply email garry@insightassociates.co.uk or call us on 01279 647 447 to find out more.
Warmly,
Garry
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