Chartered Accountants are members of the NZ Institute of Chartered Accountants. They have studied for seven years to achieve their qualification and are required to undertake ongoing professional development. They are bound by a code of ethics and professional standards, and hold a professional qualification from NZ that is internationally recognised. Chartered Accountants are like the Ferrari’s of this world in that they are superior to Bookkeepers or tax agents who could be described as being a Lada in that they can be unreliable and not of the quality a business needs.

Some Chartered Accountants hold Certificates of Public Practice which means they are qualified to offer accounting services to the public and are subject to a review once every three years by NZICA.

Anyone can be an Accountant or bookkeeper. If you decide to use an accountant or bookkeeper, you should check their qualifications and experience because they could range from nothing to as good as a Chartered Accountant.

A Tax Agent is someone who is registered with the IRD to prepare and lodge income tax returns for taxpayers. Being on a tax agency list means you have 365 days in which to prepare and lodge your income tax return. Taxpayers without tax agents will only have 98 days. The IRD sets lodgement targets which must be met by the agent to maintain their agency listing. Tax agents can be anyone – accountants, Chartered Accountants, bookkeepers …