Changing accountants can feel significant.
The transition is often simpler than expected.
Businesses change. So do their accounting, tax and advisory needs.
Your accountant may be retiring, the practice may have changed
ownership, or your business may now need more support.
PRATT Partners works with businesses across
accounting,
taxation
and
business advisory.
THE SHORT ANSWER
You can generally change accountants at any time.
Once the engagement and authorities are in place,
the transition can begin.
WHEN TO REVIEW
5 signs it may be time to change.
01
You only hear from your accountant at tax time.
Some tax, cashflow and business decisions are better
considered before year end.
02
Your accountant is retiring.
A successor may suit you, but it is also a natural time
to consider who you would choose today.
03
Your business is more complex.
Companies, trusts, employees, financing, Division 7A
and succession can increase the advice required.
04
Tax or cashflow keeps surprising you.
Better visibility can help you prepare for tax,
GST, PAYG instalments and superannuation.
05
You want a better fit.
There does not need to be a dispute.
The relationship may simply no longer suit.
Changing accountants is not always about what went wrong.
Sometimes it is about what comes next.
THE TRANSITION
How does the change work?
01
Initial discussion
Discuss your entities, current position and the services required.
02
New engagement
Confirm the scope of accounting, tax and advisory services.
03
Authorities
Complete the required authorities and, where relevant,
ATO client-to-agent linking.
04
Information transfer
Relevant information can then be requested from the outgoing adviser.
05
Review
Identify outstanding lodgements, deadlines and ATO matters.
See the ATO's
client-to-agent linking guidance
where relevant.
YOUR NEXT ACCOUNTANT
What should you look for?
Price matters, but so do experience, communication
and whether the service suits your business.
Experience
Relevant experience with businesses and structures like yours.
Communication
Know who will look after you and how you will communicate.
Scope
Accounting, tax and advisory support that matches your needs.
Visibility
Better information before tax, cashflow and business decisions.
SYDNEY · GOLD COAST · AUSTRALIA-WIDE
Considering another accountant?
PRATT Partners works with businesses, private companies
and family groups from Sydney and the Gold Coast,
as well as clients Australia-wide.
Our services include accounting, taxation and business advisory.
COMMON QUESTIONS
Changing accountants FAQ.
Can I change during the financial year?
Generally, yes. You do not ordinarily need to wait until
30 June or until your next tax return is completed.
Is changing accountants difficult?
A straightforward change can generally be managed through
the engagement, authorities and transfer of information.
What happens to my ATO matters?
Existing debts and lodgement obligations remain.
The new adviser can review them once authorised.
What if my accountant is retiring?
You can consider the successor practice or use the transition
to review other options.
Can PRATT Partners help?
Yes. We can discuss your entities, current position
and the services you require.
Considering a change?
If your accountant is retiring, your business has changed
or you simply want to understand your options,
speak with PRATT Partners.
Discuss your position
