There are several factors to consider, namely the expertise, trustworthiness and transparency of the outsourcing provider. As the information provided and managed by the third party provider is sensitive in nature, your outsourcing accounting partner must be able to manage your accounts professionally and with integrity. As your partners in success, the accounting company must also have the expertise to handle the most complex situations, and to grow and adapt alongside your business.
Communication should also be a key factor for consideration. When outsourcing to a team of third-party accountants, it is essential that good communication and transparency is maintained between both parties to ensure streamlined passing of information. This helps to reduce risk and errors when processing your financial statements.