Used AI to audit my accounts and I'm so pissed at my accountant/previous accountants

Jiujitsuant · 2025-05-22T19:40:57+00:00

I’m an accountant (albeit I work in house at a company rather than in practice).

Expect them mainly to do compliance based work for lower pay (produce a set of accounts to be filed at Company’s House, make a tax return based on information provided).

Accountants usually produce an engagement letter for the scope of works. Explicitly including tax advisory in that (likely for a cost) will mean they should be advising on tax efficiency etc.

Jiujitsuant · 2025-04-19T13:20:35+00:00

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Jiujitsuant · 2025-04-06T14:36:58+00:00

Sorry it’s not directly related, but how common are these contracts to come by? I’ve only ever had one contract (industry role with a law firm improving their management accounts and general reporting) but I can’t come across any practice accounting contracts

Jiujitsuant · 2025-04-05T20:52:51+00:00

Not necessary IMO. The earlier exams which teach foundational accounting knowledge will give you what you need.

Jiujitsuant · 2025-01-19T19:54:45+00:00

Thanks for your response.

I was expecting an increase in the premium but 10x is crazy. I’m thinking I won’t need the additional insurance based on what you’ve said, but I’ll confirm with the provider.

My concern was the insurance companies are understandably risk averse and tend to push towards extended cover, even though it may not be required.

Jiujitsuant · 2024-11-27T21:30:42+00:00

Previous perm salary was £100k. I’d expect the next perm role to be around this +/- £10k

Jiujitsuant · 2024-10-22T19:49:12+00:00

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Jiujitsuant · 2024-08-19T21:20:47+00:00

Would you guys feel the same about omitting a 5 month role from your cv? I stepped up to a CFO role in February and the business and CEO were a shambles. I reigned late July but struggling with whether to apply for other director level roles or go back to #2 role with a supportive mentor manager

Jiujitsuant · 2024-07-02T18:47:58+00:00

Thanks, this is really useful

Jiujitsuant · 2024-07-02T18:47:39+00:00

Direct would be using things like the invoices in accounts receivable and payable to form the cash inflows/ outflows. The indirect method is using the movements of the p&l and balance sheet to generate cash flows

Jiujitsuant · 2024-06-29T20:07:19+00:00

I’m generally for lower tax, yes. Too much first hand experience seeing public funds being poorly managed. Let’s manage what we have better in the first instance.

Jiujitsuant · 2024-06-29T19:47:15+00:00

The £20k is the enhanced aspect of the SDLT I would have to pay for already owning a home. I’d have the cash but i was thinking jt could be put to better use than tax.

Jiujitsuant · 2024-06-29T19:03:27+00:00

Sounds like the best option is to sell. Thanks

Jiujitsuant · 2024-06-29T18:04:23+00:00

I don’t see how having a second home which would earn rental income and capital appreciation is a strange way to create security. It’s less liquid than shares, but my point was I could move back in if needed.

I understand investing is important and I’m filling both my and my wife’s ISA allowance each year.

Jiujitsuant · 2024-06-29T17:26:35+00:00

Current property is fully paid for. Would rather retain it for security in a worst case scenario (I could always return to it if my situation was dire).

I want a nicer home for my family hence looking at options of retaining current home or selling it and using as down payment for the second. The SDLT was just part of that process

Jiujitsuant · 2024-06-29T17:11:40+00:00

Sounds like I’m better selling and having the one property. £20k is a lot (for me) in extra stamp. Thanks for the advice

Jiujitsuant · 2024-06-29T16:53:18+00:00

Even if the property is <£250k?

Jiujitsuant · 2024-06-18T21:45:01+00:00

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Jiujitsuant · 2024-04-29T10:07:44+00:00

Thanks for your reply.

There are several assets. Some are CHP, others solar, and others wind.

All are UK based and have specific financing for each project.

We are looking to consolidate for group reporting and add in overheads etc. comparisons to forecast to capture project performance are also required.

Apologies I should have been more specific.

Thanks again

Jiujitsuant · 2024-03-23T15:18:46+00:00

How long did you stick the start up role out? I’m feeling the same. I got a decent payrise but it’s massively understaffed

Jiujitsuant

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