The accounting profession, perhaps more than any other comprises members seeking to be all things to all people. The general practitioner may claim to be across:
• Income Tax
• Indirect Taxes
• Property Taxes
• Financial Planning
• And of course Business Valuations.
Sensibly, the Chartered Accountants Australia and New Zealand body (the fourth largest accounting body in Asia) has taken steps to recognise those practitioners with superior education and experience in a given field. Most recently this has occurred in the area of Business Valuation and follows similar moves covering superannuation and audit services.
For business owners, valuation and other transactional services while not necessary on an annual basis, will most likely be required at certain times through the business life cycle. It makes sense that when the need arises you ask yourself, is it to be performed by a Business Valuation Specialist. There is simply too much at stake to leave this work to a ‘Jack of All trades’.
At WMS we are delighted to have specialists in this field noting that there are less than 100 nationwide.