An investment accountant is that finance specialist that is saddled with the responsibility of keeping track of the investments of an individual or an entity. They ensure that funds sourced for investments and proceeds from already invested finance are properly accounted for.
Also, it is the duty of the investment accountant to ensure that relevant legal requirements that concerns investing is strictly adhered to. The work of an investment accountant is similar to that of a financial planner but subtly different is scope.
Sourcing for investment accountants is one critical aspect of investment decision that needs to be thoroughly handled. You cannot ask a blind man to lead you when you also have eye problem. Even when your sight is okay, you might not be familiar with the path. Selecting investment accountants is like every other things that we do on a daily basis, we surely want the best out of all that we do. And to get that, we need to make sure that the best tool is employed for every task. In this case, the tools needed to get the best out of our investment is; investment accountant.
In this article are those qualities that we must look out for before selecting an investment accountant.
His/ her knowledge of investment; anybody you must employ as your investment accountant must be a person that has knowledge of investment. Where possible, ask them to provide proof of such investment knowledge, you can for instance ask them to provide their investment portfolio.
Work experience; having experience in similar position in the past will help re-assure you that they will provide you and your investment the much needed result.
Qualification; it is a good practice to only engage highly qualified professional accountants as your investment accountants. Being a member of CIMA or ACCA will be sufficient to prove this. Although being a member of a professional accountancy body is not a guarantee that the potential investment accountant is the best, it is an indication of quality working knowledge of accounting. It will be an added advantage if your service provider has what it takes to be a fraud fighter as fraud prevalence keep increasing.
Must be knowledgeable in the use of cutting edge technologies; in this world of today where every thing has gone digitalized, it will be a taboo to engage the service of anybody who is not technologically savvy as your investment accountant. In fact, the line between accounting and Information Technology no longer exist. Hence, accounting professional but meet the basic IT baseline required for success in delivering accounting services for today’s clients.
Must have a high credit score; there is no way a person who cannot manage his/her own finances can be the best person to handle your investment portfolios. Always search for accountants that have sound, high and clean credit score.
Must not be a person who has gone bankrupt in the past; this is in line with the previous point, if he/she was not good enough to avoid going bankrupt in the first place, how then do you think they will make a better investment accountant?
Finding and keeping good investment accountants has never been as important as it is now before. So do all that you can to keep your investment accountant motivated and energized at all times.
Good luck in your search for an investment accountant!