There are many different types of accountant who can act for small businesses.

Legally, there are no resetrictions preventing anyone setting up an accountancy practice or calling himself or herself 'an accountant'.

When engaging an accountant to act for your business, you need to ensure that they are appropriately qualified. The main accountancy qualifications are Chartered Accountants (ACA), Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA) or Associate of Accounting Technicians (AAT).
What do these mean?

By holding one of these qualifications, the individual demonstrates that:-

• They have obtained a minimum standard in passing entrance examinations;
• They hold professional indemnity insurance;
• They are committed to maintaining their professional knowledge by undertaking continuing training; and
• Their practice work is monitored for its quality by the professional body to which they belong.