Companies which use an external
accountant may benefit from useful advice and tips, it has been claimed.
Business Link, a self-help website for small and medium businesses, has advised entrepreneurs that employing an
accountant who specialises in a particular industry will help their company substantially.
Claire Savidge, business adviser and local adviser manager with the firm, stated that external accountants can assist companies reduce their tax bills and also make them aware of particular schemes available to them.
"Even if business owners don't use an external
accountant they should perhaps use an external consultant who can look over their financial details to make sure they are heading in the right direction," she said.
Ms Savidge advised company bosses to ensure their accounts are audited at least every six months and for those who are not particularly financially minded, a quarterly review may be necessary.
The Professional Oversight's Board recently announced that many small company directors were unsure about how to obtain help and what options were available with financial reporting.
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