The IAB has led the UK and international bookkeeping profession for more than 40 years, raising the professionalism of its members through regulated qualifications, and aiming to ensure those starting or running a small business have access to the financial skills that are critical for success.
IAB members are professionally qualified bookkeepers and frequently updated on changes in legislation or guidance from the likes of HMRC, ensuring they are always equipped to offer the best help and advice to their clients. Their skills are relevant for the modern world, and cover cashflow, VAT, tax and payroll – many of the things an accountant can do.
IAB members are:
- Qualified: In order to gain professional membership with the IAB applicants need to have either an IAB level 2 qualification or higher or be qualified via experience. They can also join if they have gained an equivalent qualification with another recognised awarding body. The IAB offers extensive qualifications – regulated by Ofqual, which is the non-ministerial government department that regulates qualifications, exams and tests in England and vocational qualifications in Northern Ireland.
- Supervised: It is a legal requirement for bookkeepers in practice to hold supervision under the Money Laundering Regulations. The IAB is an approved supervisor under the regulations and our Members in Practice are supervised by the IAB.
- Professional and up-to-date: As members of the IAB they receive regular technical updates and access to a range of resources to assist them with various legislation and changes taking place. IAB members also have the opportunity to attend seminars throughout the year which often have speakers from HMRC, The Pensions Regulator and many more.
A good bookkeeper is a small business’s best friend – a reassuring presence who can keep records up to date, ensure regulations are being met and provide early warning of potentially damaging issues. When businesses go beyond the simplest of accounts, they need appropriately qualified and skilled support – either provided from within the company by a member of staff, or outsourced – that can ensure they not only comply with HMRC requirements but gain the maximum benefit from cashflow and regular financial information to make good and timely business decisions.
This isn’t a question of whether or not a business can afford to keep its finances in good order – it simply can’t afford not to. In any case, using the services of an external bookkeeper need not be expensive.
Bookkeepers are perfectly placed to understand the challenges and pressures unique to small businesses, as many are business owners themselves, including sole traders. They understand the importance of taking away uncertainty and risk, and being a reliable partner and friend to small businesses.
There are many benefits of hiring a bookkeeper including:
- Enjoy the reassurance of knowing your business finances are on track and being closely monitored, allowing you to spend more time on other areas of the business.
- Get additional support to keep your cashflow up to date and be made aware as soon as any issues arise.
- Bookkeepers are excellent value for money.
All UK IAB members who provide services to firms are listed on the IAB website. Visit: https://www.iab.org.uk/find-bookkeeper/.
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