My company was victimised by a fraudulent accountant and I am not sure what to do?
He is not a qualified accountant to practice the profession. He used my company and did many dodgy things and started a new accounting firm. I am afraid to complain to Inland Revenue as it may put my company in red. Recently he got some visa problems and leaving this country along with many clients and telling that he can do their accounts from abroad. I don't know his client list to alert them. What should I do and whom should I complain and how can I sort my own accounts? Please help me and guide me.
Small Business - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Report him to the Institute of Chartered Accountants as a start it sounds as if he is acting illegally
Answer 2 :
Did he claim to be qualified when you employed him? If so, then reporting to the body he claimed to be qualified with, or trading standards may be an option. You can't really protect anyone else unless approached for a reference, or until a criminal conviction is obtained - otherwise the local newspapers would be full of such stories of complaint. To sort yourself out, hire a properly qualified accountant. There is a lot of regulation that accountancy firms have to comply with. Either approach an institute directly, or look in the yellow pages for the group adverts under the ACCA or ICAEW banners.
Answer 3 :
Contact your company solicitor and ask for advice. There's no getting around this and you will have to make statements to the IRS and probably the police. If you had truly no knowledge that he was unqualified before working on your accounts, you will be okay but an independent audit will need to be carried out and you will be liable to pay any outstanding taxes. The best thing is to co-operate as fully as you can. If you are asked a question to which you do not know the answer or you do not remember, just say that. Don't make anything up, even to get this guy convicted. It could backfire on you. There are some good accounting packages such as Quicken and Sage that are useful. But you'll probably still need and accountant to give them the 'once over' at the end of the financial year. Best Wishes.
Answer 4 :
How do you know he did 'dodgy' things? What was dodgy about them? Sorting out the mess starts with getting your business information from all taxing authorities and suppliers. They will know what your company owes them and can give you a current statement. As for putting your company in the red - it's best to know sooner than later. contact the Inland Revenue and let them know you are concerned about some of the practices of your previous accountant. Ask for their help, they'd much prefer you have a going concern that earns profits (and therefore gives them tax money) than see you go under.
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