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Importance of CPA-Led Bookkeeping

 

There is no statutory governing body for bookkeepers – choose your bookkeeper wisely!

Importance of CPA-led Bookkeeping

That is part of the reason why, at Deuzeman CPA, we have gone out of our way to develop in-house systems and services so that we can be a one-stop-shop for you to get all your bookkeeping, accounting, taxes and planning taken care of under one roof. We take great pride in making it convenient for you to have all your accounting and tax needs handled and done properly from start to finish in one spot.

Unregulated Industry

In Canada, there currently does not exist a statutory governing body for bookkeepers. That means that there is no association that has a primary purpose of protecting the public interest and business owners by ensuring that bookkeepers meet professional standards and comply with a code of conduct.

Other major professions have governing bodies that provide assurance to the public that they’re dealing with a licensed professional. For example, in Ontario, an accountant is really only an accountant if they’re a member of the Chartered Professional Accountants of Ontario (CPAO), a dentist is really only a dentist if they’re a member of the Royal College of Dental Surgeons of Ontario (RCDSO), a doctor is really only a doctor if they’re a member of the College of Physicians and Surgeons of Ontario (CPSO) and a veterinarian is really only a veterinarian if they’re a member of the College of Veterinarians of Ontario (CVO).

Because there is no statutory governing body for bookkeepers, business owners who are considering hiring a bookkeeper should be aware of this fact and particularly careful and exercise due diligence before choosing a bookkeeper.

CPA Design & Oversight

At Deuzeman CPA, we have made the conscious decision to put together an in-house, CPA-led bookkeeping team so that we can provide existing and new clients with the quality of bookkeeping that they deserve. Business owners need to know that their bookkeeping is done properly and they’re not just receiving data-entry services. Just because there are numbers being shown on a piece of paper, it doesn't mean that the bookkeeping is being done properly or that you’re being provided with the most meaningful results.

Our bookkeeping systems have been designed by CPA’s and bookkeepers together to ensure that as much as possible has been considered in the financial reporting cycle and the needs of a business. In addition to that, our bookkeepers perform their work throughout the year with CPA oversight to ensure internal financial statements are being completed at the highest quality level and errors are avoided.

Access to a CPA

Outsourcing your bookkeeping to a full-service CPA firm allows you to also have access to a CPA for tax and other advisory services without needing to go elsewhere to work with another service provider. Not only do you know that you bookkeeping is being performed at CPA-level standards, but you know that you can contact your CPA at anytime and they’ll have quick and easy access to your financial reports to help you analyze your situation and make recommendations.

Deuzeman CPA is here to help Canadian businesses with full service outsourced bookkeeping and to be the one-stop shop for all other tax and accounting needs.

Please feel free to contact us for additional information or to discuss your situation. We would be glad to assist you.



Caveat: The information in this publication is current as of the time it was written. This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Deuzeman & Associates to discuss these matters in the context of your particular circumstances. Deuzeman & Associates does not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.

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