FAQ

We answer some of the more common questions about our profession and the way The Peak Partnership works with our clients.

• How do I know my accountant is reputable?
• How much do your services cost?
• When am I expected to pay my accounting fees?
• How long will my work take?
• Why are my fees are more than I expected?
• Who does the work on my account?
• What if I have financial needs other than accounting and taxation?

Q: How do I know my accountant is reputable?

A: Many people appoint an accountant as a result of referral from someone they trust. However, you should check an accountant’s credentials for yourself to ensure they are fully compliant with industry regulations.
 
The Peak Partnership has undertaken a Quality Assurance Review through CPA Australia to ensure we meet the highest professional and ethical standards. In addition, our senior staff are all members of the peak industry bodies – Institute of Chartered Accountants in Australia (ICAA) and CPA Australia.

Q: How much do your services cost?

A: Our Accounting Schedule of Fees is contained in our Letter of Engagement, which is issued to all new clients at the time of formal appointment. This Schedule outlines hourly charge rates for staff of different levels of qualification and experience.

As a rule, we don’t quote on a project beforehand – the fees will depend on a range of issues – including complexity, follow up required, additional information to be provided, staff assigned to the work etc. The key to remember is that accounting firms charge for their time, so the more complex your work is the more it is likely to cost. 

Q: When am I expected to pay my accounting fees?

A: Depending on the amount of work and time involved, we’ll normally issue progress invoices for you to pay within 30 days. Even though your work might not be fully completed, we need to maintain regular income to provide for staffing and other resources. For smaller tasks, we’ll send you an invoice for the total owing when the work is finalised.  

Q: How long will my work take?

A: While we believe in punctuality, a quick turnaround isn’t always possible. Accounting is a seasonal profession, with peaks and lulls throughout the year.

Depending on the work you want us to do and the time of year, our completed response could range from a few days to a few months for in-depth and ongoing assignments. Regardless, our policy is to keep you informed of our progress.

Q: Why are my fees are more than I expected, based on previous accounting work I’ve had done?

A: This could be due to a number of factors.

There might be more work to do on your account than before, especially if you’ve had a number of additional financial transactions, maybe increased business operations and so on. Or we may have needed you to provide us with additional information – or our staff have sourced that information on your behalf. And the complexity of your financial affairs might mean we have to allocate more senior resources and more time to your account than previously.

Q: Who does the work on my account?

A: Again, that depends on what’s involved. We believe in assigning staff with the appropriate level of experience for each task, ensuring your fees aren’t more than necessary – especially for more routine work.

One thing you can be sure of is that all work is finalised by your Senior Accountant, your Partner or both before it is presented to you or submitted to government or other authorities.

Q:  What if I have financial needs other than accounting and taxation?

A: That’s why you’ve chosen The Peak Partnership. We can co-ordinate with our in-house specialist advisors to take you through the opportunities across our other financial services. And your designated Accounting Partner will directly assist in establishing those relationships.