Questions to ask before choosing an accountant

In a nutshell: Before entrusting your financials to someone, seven questions are all it takes to distinguish a true professional from a less-than-reliable candidate. The good news: Bankeo already checks the essentials for you, for free, as part of the Bankeo Trust Index and its more than 20 criteria.

Choosing an accountant isn’t just about comparing rates. It’s about making sure the person is reliable, properly insured, competent, and a good fit for your situation. Here are the questions to ask, and what a good answer should sound like.

1. Do you have professional liability insurance?

The right answer: Yes, up to date, with a certificate available. This is your protection if a mistake occurs. No insurance, no safety net.

2. Are you a member of a professional association?

If an accountant identifies themselves as a CPA, they must be registered and in good standing with the Order of CPAs (Quebec or Ontario). You don’t always need a CPA, but if they claim to be one, it must be true and verifiable.

3. How long have you been practicing, and with which business?

You’re looking for a real, registered business with experience, not an anonymous profile. Knowing who you’re entrusting your financials to is essential.

4. Are you familiar with my industry?

An accountant who understands your industry (restaurant, construction, technology, healthcare, real estate) knows the tax deductions and pitfalls specific to your business. Ask for specific examples of clients in your industry.

5. Do you have any clients who can provide references?

A solid reputation can be verified. Reviews, references, and a track record, these are reassuring. A blank page is less so.

6. How do you set your fees, and what’s included?

You want clarity: a price quoted up front, what’s included, and what isn’t. Transparency helps avoid unpleasant surprises. To give you an idea of the range, the median cost of an accountant for an SME in Quebec is about $3,000 per year, ranging from $500 to $6,000 depending on the sector, from self-employed individuals to incorporated companies. These are general ranges, not your specific price: see the details in The Bankeo Fee Barometer.

7. How and how often will we communicate?

A good accountant responds quickly and stays available over the long term, not just during tax season. Availability is what really matters in day-to-day business.

The good news: Bankeo already takes care of the essentials for you

Asking each accountant these questions, requesting supporting documents, and cross-checking the answers, that takes hours of work. That’s exactly what The Bankeo Trust Index We’ll take care of it for you.

Before introducing you to an accountant, Bankeo verifies their insurance, their business, their CPA license status, their client reviews, and their expertise in your industry, among more than 20 criteria. You have the final say, for free and with no obligation. And if the relationship no longer works out, even later on, we’ll find you another accountant at no cost.

Skip the checklist, focus on the results. Find your ideal accountant, vetted.

In summary

• Seven questions are all you need to evaluate an accountant: insurance, professional association, business, industry, reviews, fees, and communication.
• Asking and verifying these questions takes time that few entrepreneurs have.
• Bankeo has already checked the essentials for you, for free, with The Bankeo Trust Index.