Scottish accountants’ failure to boost their profile in the business community despite the positive research has prompted ICAS to launch two new services to promote the chartered accountancy brand.
The research commissioned by ICAS found that 74% of more than 300 respondents trusted the advice they received from accountants. This figure compared favourably with the results of the same question put about lawyers. Only 44% said they trusted advice from lawyers.
Andrew Christie, ICAS president, said: ‘There is no substitute for a qualified adviser who has the backing of a professional institute and 76% of respondents in the research stated that knowing that an accountant was a CA “inspired confidence”.’
Accountants also came out top for being able to understand what is important to business.
Christie said: ‘We need to reinforce this belief and maintain the support of 74% of respondents while trying to convert the remaining 26%’.
Other findings revealed that although accountants dominate in the areas of tax, VAT and audit, competitors still outsell them in pensions, life assurance, business advice and financial planning. One in four business clients claimed accountants ‘do not sell themselves enough’.
Business CAre and Financial CAre launched this week are plays on the CA brand and are designed to encourage people to use chartered accountants for all business matters from tax advice and investment to growing and selling a business.
Christie said: ‘Business CAre and Financial Care have been developed to help the business community and individuals to recognise the services that can be provided by a CA and the subsequent value that can be added. CAs can add value beyond their recognised expertise and in tax advice and audit.’
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