Cardiff based accountants Graham Paul, are advising local businesses to take note of recent warnings regarding cowboy accountants operating across the region.

The firm of accountants and business advisers believe small businesses are being put at increasing risk by bogus individuals who have no formal qualifications.

John Squire, partner at Graham Paul, comments: “We often hear from new clients that they have had a bad experience in the past, or that they are not fully aware of what constitutes a qualified accountant. The main point to consider is to be sure the accountant is a member of one of the main professional bodies, The Institute of Chartered Accountants, The Association of Chartered Certified Accountants or The Chartered Institute of Management Accountants.

“It can also be useful to speak to your local business contacts to see who they use. A personal recommendation is the best endorsement for any accountant. Then before meeting with a number of proposed firms, do some background work.”

The warning comes following reported pressure from the Association of Chartered Certified Accountants for the government to introduce a clear definition of the term “accountant.”

John concludes: “Unfortunately anyone can set themselves up as an accountant and this can result in bad advice, costly mistakes or even illegal accounts for local businesses.”

For more information call Graham Paul on 01656 679800.