WeCount Team
09 August 2019
Choosing an accounting firm in Morocco is not an easy task. It means putting your trust and the financial future of your company in the hands of a professional who can support you throughout the life of your company.
You need to be sure that your accounting and financial information—one of the most important and sensitive aspects of your business—is in the right hands.
On top of basic tasks such as keeping accounts and respecting your tax and social security obligations, thereby avoiding any potentially significant pitfalls (penalties or tax audits), a good accounting professional will also be able to act as a co-pilot for your business, offering advice on your strategic decisions and legal and financial arrangements.
To find the right firm for this vital role, consider the criteria laid out below.
Any professional working as an accountant must hold a diploma in chartered accountancy (the "diplôme d’expertise comptable" or DEC). This qualification certifies that the person in question has the necessary skills to keep the company's accounts and carry out statutory or contractual audits.
To practice legally, all professionals must also belong to the Moroccan association of chartered accountants. It is therefore essential that you check this information. The directory on the association of chartered accountants website lists all the qualified professionals: simply enter a candidate's name to check their status.
It might seem obvious, but the team of the accounting firm you will select must include English speaking accountants. Indeed, the partner, along with the team members with whom you will interact frequently, must have an excellent command of both spoken and written English.
As you may already know, Arabic and French are the two official languages for conducting business in Morocco. Consequently, it is advisable to be wary of this matter as it might lead to unnecessary communication issues with the accountant.
Any accounting firm in Morocco can buy the latest technology, but they also need to know how to use it. A digital platform is a real asset, allowing them to work faster and exchange information easily with your company. It should use the SaaS model and benefit from responsive design, allowing users to view the accounts from anywhere.
You should also try to find out whether the solution they use is compatible with your own tools. Their software should be able to create dashboards and balance sheets whenever you want. The WeCount platform meets all these requirements, as do several other platforms created by accounting solution designers. Accounting document archives are also extremely important to keep your data and accounting records to hand.
To best meet your needs, your accountant should be able to draw on a breadth of experience. You should also consider their preferred sector or specialisation, as it represents their new skills.
It is easier to assign the fiduciary management of your company to an experienced individual. The same rule applies if you are planning to make regular investments or set up new offices: look for professionals who have specialised in those specific areas.
As your accountant uses your company's legal and financial information every day, security is paramount. In Morocco, personal data is protected by law no. 09-08. You therefore need to ensure that your accountant complies with this regulation.
IT security plays a vital role in the accounting profession. Some of the first steps include using secure servers in Morocco and strong passwords, as well as adopting an IT security charter. A bespoke IT solution is the ideal choice to keep your company’s data encrypted.
To ensure that your accountant is always available, choose an accounting firm with a team made up of several staff. You can therefore be confident that your accounting entries will be completed in full, and can also be delegated if there is urgent work to be done.
Do not hesitate to visit their offices to take a look at how they are organised and get an insight into their workload. This will tell you whether they are ready to take on a new client with specific needs. Using digital tools for certain tasks will also allow them to free up more time. These precautions will help create a trusting relationship, allowing you to rely on this professional for all of your business projects.
However, you should be careful not to choose an accounting firm based purely on cost. The right professional is an investment, not an expense. By allocating your resources to high quality accounting and tax services, you are investing in your company and its future success.
Earnings before interest taxes depreciation and amortization: this is the description of the acronym EBITDA. This may seem incomprehensible to many of you. If this is the case, you should know that what we are talking a ...
Read more
If you are looking for more information regarding the income statment in Morocco. This blog post will answer your questions as it will review all aspects of this essential financial statement. Indeed, this financial sta ...
Read more
A company is not only defined by its name. A company is also distinguished by its balance sheet, which highlights its asset situation at a specific moment, in principle when closing its accounts. In other words, a compa ...
Read more
