How can I make a complaint about an accountancy firm?

noddy75

My old accountants charged me a hefty fee to transfer all the documents over to my new accountants. However, there is a lot of stuff missing and I am having to call them almost every day to get them to send stuff, like copies of invoices, photocopies of VAT returns etc. They have also seemingly messed up a lot of the finances which I am having to correct along with the new accountant.

So, I want to make a complaint about their conduct. However, they don't seem to be regulated. Who could I make a complaint about them to? Which body (if any) is supposed to regulate accountants?

Thanks.

Yorksblue

I guess the important line is they are not regulated. Anyone can claim to be an accountant and set up business but like you say they are not regulated. Those that take the time and effort to pass the professional exams and join one of the professions are regulated by these bodies. THey may be more expensive but there is some where to go when things go wrong. I hope your new accountant is regulated.

Maybe trading standards? if they are not giving a good service then they should be shut down.

Cook_County

Why do you not have copies of such things already?

Their working papers belong to them, but other documents of the kinds you refer to belong to you so you would already have these in your possession. It is your responsibility to provide data to your accountant.

Why did you select an unqualified salesman at all?

dancingqueen_tr

Where they chartered accountants? If so, try to speak to the senior partner of the firm. If that doesnt work, then contact the ICAEW.

noddy75

Cook_County wrote: »

Why do you not have copies of such things already?

Their working papers belong to them, but other documents of the kinds you refer to belong to you so you would already have these in your possession. It is your responsibility to provide data to your accountant.

Why did you select an unqualified salesman at all?

I am not an accountant and I had relied on my old accountant to tell me what papers I should have as I am not a financial expert. This is what I was paying my accountant to do. I am not a mind reader. Now that I am with a new accountant I am chasing all these documents that my previous accountant was supposed to send to me as my new accountant has told me I should have them. I can't know accountancy law and regulations as I am not an accountant. Why would I bother employing someone to do all my accounting if I knew how it all worked myself . I didn't even know that accountants could be unregulated. They were recommend by someone I know and who I trusted.

lesley1960

noddy75 wrote: »

I am not an accountant and I had relied on my old accountant to tell me what papers I should have as I am not a financial expert. This is what I was paying my accountant to do. I am not a mind reader. Now that I am with a new accountant I am chasing all these documents that my previous accountant was supposed to send to me as my new accountant has told me I should have them. I can't know accountancy law and regulations as I am not an accountant. Why would I bother employing someone to do all my accounting if I knew how it all worked myself . I didn't even know that accountants could be unregulated. They were recommend by someone I know and who I trusted.

because its very important that you understand how your business is running from a day to day basis . Plus you will save a fortune in doing the basics yourself

dunstonh

You pay the accountant to do your tax calculations and prepare the accounts. You dont pay them to keep copies of your paperwork on your behalf. That is your responsibility.

They dont need to see evidence on most things. So, there is no requirement for them to hold documents. Although certain things they will. This may explain why in your eyes you are getting some things and not others.

kazwookie

Can you physically go to the old accountant and collect your paperwork?

With my accountant at the end of each year, I take all the paperwork in a box and files to him, he then brings it all back to me as few weeks later, and we sit and have a meeting about any points raised, and look at the paper work at the same time if relevant.

I do not know who you can complain to, sorry.

Pennywise

noddy75 wrote: »

Why would I bother employing someone to do all my accounting if I knew how it all worked myself .

You can't abdicate your responsibiliites. An accountant is there to help you to help yourself comply with the law and plan your affairs. You are still responsible and have to sign the accounts, tax returns, etc. I really can't see why you expect your accountant to keep copies of your invoices - why didn't you? Same with VAT returns - you have to sign them before they are submitted, so why didn't you copy them. To be honest, it sounds like the previous accountant has done what they are required to do - there is a "standard" for the transfer of information from one accountant to another but that is quite a low level of information - little more than copies of the latest accounts and tax return with supporting analyses. I'm not at all sure that you have any cause for complaint. The law requires you, the business person, to keep proper accounting records - it doesn't sound as if you have done that if you are relying on your accountant to send you copies of your own invoices. I think your best option is to forget it and move on with your new accountant. Have you checked that your new accountant is properly regulated? Ideally they should have the name "chartered" in their full business name and description - that way you will have more comfort that the firm is regulated and complying with the relevant rules and regulations.

noddy75

Pennywise wrote: »

You can't abdicate your responsibiliites. An accountant is there to help you to help yourself comply with the law and plan your affairs. You are still responsible and have to sign the accounts, tax returns, etc. I really can't see why you expect your accountant to keep copies of your invoices - why didn't you? Same with VAT returns - you have to sign them before they are submitted, so why didn't you copy them. To be honest, it sounds like the previous accountant has done what they are required to do - there is a "standard" for the transfer of information from one accountant to another but that is quite a low level of information - little more than copies of the latest accounts and tax return with supporting analyses. I'm not at all sure that you have any cause for complaint. The law requires you, the business person, to keep proper accounting records - it doesn't sound as if you have done that if you are relying on your accountant to send you copies of your own invoices. I think your best option is to forget it and move on with your new accountant. Have you checked that your new accountant is properly regulated? Ideally they should have the name "chartered" in their full business name and description - that way you will have more comfort that the firm is regulated and complying with the relevant rules and regulations.

Because all the invoices were generated by the accountants on behalf of the company and I have not ever signed any VAT returns, they have done absolutely all the paperwork on behalf of my Ltd company. My company was even registered at their address on Companies House and for VAT which I am not sure was even correct. That is what I am trying to get hold off - all the paperwork that I was supposed to sign and have. I will try and explain this again - I am a total novice, I know nothing about accounting regulations or law. I was recommended this firm by a friend. The only things I have ever received from them whilst they were my accountants were payslips, remit forms and a dividend tax credit certificate. They even had access to the company bank account and paid all the various taxes on behalf of the company (before anyone asks, they have not taken anything out of the account that they shouldn't have). I feel like I am having to learn all about business law and accountancy just to find out what I should have. I understand it is my responsibility to do this but it takes people something like 5 years to qualify as an accountant and therefore as someone who has no knowledge of this field as a layman it is taking me time to find out what I should have legally and what I am obligated to do. I hope this makes sense and thank you for all your replies so far.

Pennywise

noddy75 wrote: »

Because all the invoices were generated by the accountants on behalf of the company and I have not ever signed any VAT returns, they have done absolutely all the paperwork on behalf of my Ltd company. My company was even registered at their address on Companies House and for VAT which I am not sure was even correct. That is what I am trying to get hold off - all the paperwork that I was supposed to sign and have. I will try and explain this again - I am a total novice, I know nothing about accounting regulations or law. I was recommended this firm by a friend. The only things I have ever received from them whilst they were my accountants were payslips, remit forms and a dividend tax credit certificate. They even had access to the company bank account and paid all the various taxes on behalf of the company (before anyone asks, they have not taken anything out of the account that they shouldn't have). I feel like I am having to learn all about business law and accountancy just to find out what I should have. I understand it is my responsibility to do this but it takes people something like 5 years to qualify as an accountant and therefore as someone who has no knowledge of this field as a layman it is taking me time to find out what I should have legally and what I am obligated to do. I hope this makes sense and thank you for all your replies so far.

Are you sure you were with an accountancy practice? It sounds far more likely that you were with an umbrella or service company management firm. It is very rare for a proper firm of accountants to sign your VAT returns and have control of your bank account - professional institutes and PII insurers don't like that kind of thing. It sounds like you signed up to a "fully managed" company administration service - that is quite a difference from the normal relationship between a client and an accountant. If you had been clear from the outset that you had signed over the entire running of your business to such a firm, then you'd have got more relevant and appropriate replies. Are you aware of the "managed service companies" legislation brought in last year which effectively stops the payment of dividends from companies such as yours that are managed by another firm rather than yourself? Is your new accountant aware of this? If you have been taking a low salary and dividends for the past 18 months, you could have quite a potential tax bill! As you have still not said whether they were regulated or not, I take it that your previous company management firm weren't with one of the "chartered" bodies. Neither have you said about your new "accountants" - are they "chartered" or not. To avoid falling foul of the managed service company legislation, you need to run your own company yourself - that means at the very least, being responsible for your own payments, i.e. writing the cheques yourself! As mentioned above, you can only claim to an accountancy body if the firm is regulated by that body. If the firm in question isn't a proper firm of regulated accountants, your only complaint is to trading standards and to be honest, I can't see that being much use as they're more concerned with people being ripped off financially rather than get involved in arguments over whether a particular service was good enough or not. Put it down to experience, and learn from it - make sure your new firm is properly regulated!